LIC’s Flexi Plus

Plan No. 811

Flexi Plus - Highlights

Life Insurance Protection Payment of Sum Assured on death

Financial protection Payment of Fund Value on Maturity

Liquidity Advantage – Partial Withdrawal allowed after 5 yrs

Stock Market Advantage – Market linked Returns

• Regular Premium ULIP Plan

• Life Cover Protection for full Sum

Assured

•Multiple Benefits in case of Death-

• Immediate payment of full Sum Assured

• All future premiums credited to the policy

account (In units)

• Payment of Fund value on Maturity

•Maturity Benefit -Fund Value

Flexi Plus - Features

•Maturity Benefits payable irrespective of

survival of the Life Assured during the

term.

• Partial Withdrawal after 5 years.

• Two funds to choose from -

‘Mixed Fund ‘ and ‘Debt

Fund’.

• Four free switches during a policy year.

• Sum Assured dependent on premium.

Flexi Plus - Features

Flexi Plus - Eligibility Conditions

PARTICULARS MINIMIUM MAXIMUM

Age at Entry 18 years 50 years

Age at Maturity 28 years 60 years

Policy term 10 20

Premium

Yearly 15000 100000

Half-yearly 10000 50000

Quarterly 5000 25000

Monthly (ECS)

2000 8000

Note For monthly(ECS), instalment premium shall be in multiples of Rs.250. For other modes annualised premium shall be in multiples of Rs. 1000/-

Sum Assured (SA) SA shall be 10*AP or 105% of the total premiums paid including any premiums that have fallen due but not paid, whichever is higher.

Benefits payable on Death:• Immediate lump sum payment equal to the Sum

Assured shall be paid to the nominee / legal heir.

• An amount equal to sum of all future premiums payable after the date of death shall be credited to the Policyholder’s Fund.

• On the Date of Maturity an amount equal to the Policyholder’s Fund Value will be given to the nominee/legal heir.

 Benefits payable on Maturity: On Life Assured surviving the date of maturity, an amount equal to the Policyholder’s Fund Value is payable

Flexi Plus - Benefits

Fund Type

Investment in Government / Government Guaranteed Securities / Corporate Debt

Short-term investments such as money market instruments

Investment in Listed Equity Shares

Details and objective of the fund for risk / return

Debt Fund

Not less than 60%

Not more than 40% Nil Low risk

Mixed Fund

Not less than 45%

Not more than 40%

Not less than 15% &Not more than 25%

Steady Income – Low to Medium risk

Flexi Plus - Investment Fund Types

Switching:A policyholder can switch between ‘Debt Fund’ and ‘Mixed Fund’ during the policy term, if he/she so desires. Four (4) such switches are free during a policy year.

Partial Withdrawal:Partial Withdrawal is allowed after the fifth policy anniversary.

Partial withdrawals may be in the form of fixed amount or in the form of fixed number of units. This facility is available to the policyholder only and subject to minimum balance of 2 Annualised Premiums in the Policyholder’s Fund.

Flexi Plus - Additional Features

Surrender:On Surrender of the policy, Policyholder’s Fund Value is payable. There is no Discontinuance Charge after completion of 5 policy years.Before completion of 5 years, Discontinuance Charge is applicable to the Fund Value. The Fund Value so arrived shall be credited to the Discontinued Policy Fund. This Fund will earn a minimum guaranteed interest as applicable to savings bank account of State bank of India, and shall be payable on completion of 5 years.

Revival:It should be noted that all the benefits under the policy are applicable only if the policy is in full force. If the due premium is not paid within the days of grace the policy lapses. In case of discontinuance before 5 years the policyholder shall have the right to revive such policy within 2 years from the date of discontinuance but not later than 5 years from the date of commencement subject to continued proof of insurability.

Flexi Plus - Additional Features

Description Particulars

Age 35 years

Policy Term 20 years

Premium Mode Yearly

Premium Amount 25000/-

Fund Type Debt Fund

Maturity Value Assuming Gross Interest Rate of 6% p.a.

767825/-

Maturity Value Assuming Gross Interest Rate of 10% p.a.

1243436/-

Flexi Plus - Simple Illustration

Description Particulars

Age 35 years

Policy Term 20 years

Premium Mode Yearly

Premium Amount 25000/-

Fund Type Mixed Fund

Maturity Value Assuming Gross Interest Rate of 6% p.a.

757196/-

Maturity Value Assuming Gross Interest Rate of 10% p.a.

1224777/-

Flexi Plus - Simple Illustration

Charge

s

Premium Allocation Charge

Mortality Charge

Other Charges

Policy Administration

Charge

Fund Management Charge

Service

Tax

When On payment of

premiumEvery month. Every month Every Day

AsPer

Prevailing

Service

tax

Law

How much

Premium ChargeFirst Year 7.50%2nd to 5th year 5.00%Thereafter 3.00%

This Charge depends upon the age of the life Assured and the Sum at Risk.

Policy Yr Charge1st Rs. 502nd Rs. 41.203rd Rs.42.444th Rs.43.715th Rs. 45.026th Rs.34.78Thereafter – escalating @3%p.a.

Debt Fund – 0.50% p.a.Mixed Fund –0.60% p.a.(The NAV declared will be net of FMC)

Description

This is the percentage of premium appropriated towards charges from the premium received.Premium Allocation Rate=Premium Paid (- )Prem. Allo. Chrg.

This is the cost of life cover. The appropriate number of units is cancelled out of the Policyholder’s Fund Value.

This charge shall not be deducted after death of the Life Assured.

Depends on type of Fund and are deductible on date of computation of NAV This Charge is not applicable to a discontinued policy.

Flexi Plus - Charges

Charge SwitchingMiscellaneous

chargeDiscontinuance

WhenWhen switches exceed the 4 free switches in a given policy year.

An alteration within the contract at the request of the policyholder

On discontinuance of the policy before 5 policy years

How much Rs.100/- Rs.50/-

Depends on the policy year of discontinuance and premium amount

Applicable in event of changes effected by the policyholder:

Flexi Plus - Other Charges

For parents who want to protect their child’s financial

need

for a good

education.

For the financially prudent who have planned

commitments to meet at the end of the

term.

For those who wish to save regularly for the future and

reap

the benefits at

maturity.

Flexi Plus –The Plan That Gives You Confidence

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Flexi Plus - Highlights