LICS PENSION PLUS

TABLE NO 803

LICS PENSION PLUS

A unique Unit Linked Pension Plan with
guarantee on the minimum rate of
interest.
Rate of Interest applied to gross
premium.
Being a ULIP plan the fund has
immense possibility for growth.
Benefit of Annuity from Maturity
Proceeds.

LICS PENSION PLUS

Benefit on Maturity :
Annuity purchased from Fund Value or
Guaranteed Maturity Proceeds
whichever is higher.
Option to commute 1/3rd. of the
Maturity Proceeds.
Benefit on death - Fund Value.
Nominee has the option to receive the
amount in lump Sum or as Annuity.

Guaranteed Maturity Proceeds: If all due

premiums are paid till maturity, a guaranteed
interest shall accrue on the gross premium,
including Top-up premiums, at the end of each
financial year. The guaranteed interest rate shall
be 50 basis points above the average of the
reverse repo rate prevailing as on the last
working day of June, September, December and
March of the preceding year.
However, the guaranteed interest rate shall be
subject to a maximum of 6% and a minimum of
3%. This guaranteed interest rate is not applicable
to a discontinued policy.
The minimum guaranteed rate of 4.5% p.a. is
applicable to all premiums received up to 31st
March, 2011, including any Top-up premiums paid.

PENSION PLUS - Fund Type

Fund
Type

Investment in
Government /
Government
Guaranteed
Securities /
Corporate
Debt

Short-term
investments
such as money
market
instruments

Investment
in Details
and
Listed
Equity objective of the
Shares
fund
for
risk
/return

Debt
Fund

Not less than Not more than Nil

60%
40%

Mixed
Fund

Not less than Not more than Not less than Steady Income
45%
40%
15% &
Lower
to
Not more than Medium risk
35%

Low risk

PENSION PLUS : ELIGIBILITY

Age at entry

18 to 75 years

Age at vesting

40 to 85 years

Minimum
Deferment
Term
Mode -

10 years

CONDITIONS

Premium

RP

MLY (ECS)

SP

Minimum

` 15000 pa

` 1500 pm

` 30000

Maximum

1 lac

1 lac

No limit

Sum Assured

NA

PENSION PLUS : CHARGES

Single Premium
Regular Premium
Year
Charge
1st
6.75%
Premium
Allocation
3.3%
2nd to 5th 4.50%
Charge
Thereaft 2.50%
er
Top-up premium: 1.25%
` 30/-pm during the first policy year and
Policy Administration
` 30/- pm escalating at the rate of 3%
Charge
pa. thereafter
Fund Management
Debt Fund
0.70% p.a.
Charge
Mixed Fund 0.80% p.a.
Switching Charge
2 switches free . ` 100 thereafter
Miscellaneous charge ` 50/- for alteration.

Pension Plus Other features

If premiums are not paid within days of
grace life assured has to exercise option
to (i) Revive the policy or
(ii) Withdraw the policy.
Revival: Payment of Arrears without
Interest.
Withdrawal : On Withdrawal, Monetary
Value is due. 1/3rd of the Monetary Value
can be commuted, Balance is used for
Annuity.

Pension Plus Other features

Withdrawal before 5 years: Monetary Value is
calculated on the date of termination. The
amount so calculated will earn interest @
3.5% p.a. from date of withdrawal to
completion of 5 years and will be due only on
completion of 5 years from the date of
commencement.
Withdrawal after 5 years : Fund Value is due.

Pension Plus Other features

Two free switches per year.
Top-up premiums allowed except
during the last 5 years of Maturity.
Partial Withdrawal Not allowed.
Surrender allowed. Discontinuance
charges applicable for the first 5 years.

PENSION PLUS: DICONTINUANCE

CHARGES
Disc Annualized premium up to
` Annualized premium above `
onti 25,000/25,000/nuan Discontinuance charges shall be lower Discontinuance charges shall be
ce
of
lower of
Year
Annualised
Maximum
Premium or Fund
Value

Annualised
Premium or FV

Maximum

10%

2500/-

6%

6000/-

7%

1750/-

4%

5000/-

5%

1250/-

3%

4000/-

3%

750/-

2%

2000/-

5
abo
ve

NIL

NIL

NIL

NIL

Why Pension Plus

Minimum Interest Guaranteed. This
protects against fluctuation of interest due
to policies of the government in the distant
future.
Since individuals in Private Employment
and those engaged in Business do not
have pension security, Pension Plus fulfils
their need for a secured future.
Being Market Linked, the plan has
possibility of getting excellent returns.
Easy Purchase.

Why Pension Plus

Convenient modes of payment , Single
Premium mode also available.
Compulsory purchase of Annuity ensures
channelisation of funds for specific
purpose.
Regular income from the commencement of
annuity.
Thank You !