LIC’s Market Plus – I (Plan 191): , started on 17th June 2008, is a Unit Linked Deferred Pension plan. Under this plan the policyholder can select the plan with or without life cover.  This plan is closed for sale.

Benefits
On demise of the policy holder during the deferment period where Life cover is selected for and is in force, the nominee is entitled to get the amount equal to the Sum Assured under the Basic Plan in addition with the policyholder’s Fund value.
On demise of the policy holder when the policy is taken without risk cover, then the policyholder’s fund value is only payable to the nominee.
IF the policy holder survives up to the date of vesting, the policyholder’s fund value will compulsorily be used to give pension based on the then current immediate annuity rates under the applicable annuity option.
The policyholder can give Top-up premium in multiples of Rupees. 1,000/- with no limit at anytime throughout the term of the policy.

Common Queries:

I have taken LIC Market Plus. My agent told me that If I invest Rs 1 lakh and will get a return of around 20% or more. Is this true? Abhijeet

LIC’s Market Plus-1 is a Unit Linked Pension (retirement) Plan. Returns of this insurance plan are share market related and so cannot be guaranteed. Neither should you expect an yearly return of 20% from your plan in the long term throughout accumulation time, nor a earnings of 9% per year is feasible during distribution phase after 20 years. There are various alternatives available in the plan. Please read the document carefully.

Benefit Illustration