Friday, April 13, 2012

LIC Samridhi Plus

Samridhi Plus plan from LIC has unit linked plan's feature that safeguards investment from market vacillations so by using LIC samridhi plus your investments will get protection in economically unstable era. You will have the facility to pay fund value at the end of policy term with Samridhi Plus and that will be based on utmost NAV  above 100 months of the policy or the NAV as valid on the date of maturity, whichever is superior. NAV of the fund will be focus to a least of ` 10/-. Availability for the sale of this plan is a maximum 3 months after the launching date.

You can choose 2 options to pay premiums, either paying term of 5 years or a single pay. You can prefer the stage of cover within the confines, which will depend on your age, whether the policy is a Single premium or Limited premium contract and on the level of premium you concur to reimburse. Premiums paid after allotment charge will obtain units of the Fund. The Unit Fund is subject to different charges and cost of units may boost or reduce, depending on the Net Asset Value.

You can pay premiums in monthly, quarterly, half-yearly or yearly over the premium term of 5 years. Keep in mind that monthly premiums can only pay by ECS mode. You can also have the facility pay a premium in single phase.  LIC also provides a facility of grace period of 15 days for monthly premium pay and 30 days for yearly, half-yearly or quarterly premium pay.

Eligibility criteria:
Minimum age limit for this plan is 8 years (last birthday) and maximum is 65 years (nearer birthday). Term of policy is 10 years and minimum premium would be for 5 years.

Premium Installment Guide:
If a person goes with single one time premium then Rs. 30,000 will be required as premium.  If a person choose monthly (only with ECS mode) then Rs. 1,500 will be required as premium and Rs. 15,000 Rs. 8,000 Rs.  & Rs. 4,000 as a premium simultaneously for yearly, half-yearly and quarterly.