LIC Nivesh Plus Plan (849): Benefits, Eligibility, Details, Reviews

LIC Nivesh Plus Plan | Features, Premium Details, Reviews, Benefits, Eligibility | LIC Nivesh Plus Maturity Calculator, Interest Rates, Tax Benefits


The LIC, which has won the hearts of millions of people, has always been the most respectable life insurance company in India. LIC’s mission has always been to improve the security and happiness of its consumers, therefore they consistently launch innovative products for everyone’s benefit. With the single Premium unit-linked LIC Nivesh Plus Policy, you may insure yourself and develop your money at the same time. To learn more about the LIC Nivesh Plus Plan, including its highlights, goals, advantages, features, documentation requirements, eligibility requirements, methods for purchasing LIC Nivesh Plus online, and much more, read on.


LIC Nivesh Plus Plan 849

A unit-linked individual life insurance plan called the LIC Nivesh Plus Plan was launched by the company on March 2, 2020. By investing a portion of your premium in the capital market, Nivesh Plus LIC, with its twin advantages of investment and insurance, aids in your wealth-building. A comprehensive variety of benefits and flexible options are offered to LIC Nivesh Plus policyholders at affordable rates.


Objectives of LIC Nivesh Plus Plan

Although LIC is a significant participant in the market for traditional life insurance, it hasn’t been particularly active there. The performance of the funds in which you put your money will determine the total return on your investment. When a policy is first purchased under this plan, you can select the kind of Sum Insured and invest the premium in one of four distinct types of investment funds. Units of the selected Fund type may be purchased with a single premium after subtracting the Premium Allocation Fee. A number of payments are due from the Unit Fund, and changes in Net Asset Value determine how much the units are worth (NAV).




Benefits of LIC Nivesh Plus Plan

Some of the key benefits of the LIC Nivesh Plus Plan are as follows:

Death Benefit:

• If a policyholder dies before the risk is initiated, he or she will receive the same amount as the unit fund value.

• If a policyholder dies after the risk is initiated, he or she will receive a sum of money that is greater than either the Basic Sum Assured or Unit Fund Value.


Maturity Advantage: 

If the policyholder lives to the policy’s maturity date, an amount equal to the unit fund value will be paid to him.


Significant Additions: 

Once the LIC Nivesh plus Policy has been in effect for a predetermined number of years, a specific portion of the one-time premium payment is perpetually contributed to the Policy Unit Fund. These are what they are:

·         3% –  At the end of 6 years

·         4% – At the end of 10 years

·         5% – At the end of 15 years

·         6% –  At the end of 20 years

·         7% –  At the end of 25 years


Rider Advantage: 

If the LIC Nivesh Plus Plan has an outstanding term of five years, a customer may be eligible for the rider benefit.


Partial withdrawals: 

Partial withdrawals are allowed whenever after the fifth policy anniversary. However, they are determined by a variety of criteria picked by the business, such as the age of the policyholder, etc. After it has been completed, the Basic Sum Assured will be reduced depending on the partial withdrawal amount for the next two years. After the two-year time has ended, the Basic Sum will be automatically restored.


Switching: At any moment throughout the policy’s duration, all LIC Nivesh Plus Policy owners may select one of four different types of funds. If a policyholder chooses to change funds, the whole Fund Value will be transferred to the new fund.


Option for Settlement: Policyholders have the choice of receiving their death benefit in a single lump sum or as a series of monthly payments from the Nivesh Plus LIC. Later, if the life assured passes away, his nominee will be compensated similarly.


Features of LIC Nivesh Plus Plan

  • At the moment the policy is initiated, the policy offers the policy applicants a choice between two basic sum guaranteed amounts.
  • The business will invest a portion of the insured person’s premium in unit funds, giving the consumer a choice between four different possibilities. Some of these funds are bond funds, balanced funds, growth funds, and secured funds.
  • During the course of the policy duration, customers of the Jeevan Nivesh Plan LIC may change their fund unit at any moment.
  • The nominee will receive death benefits under the LIC Nivesh Plus Plan if the life guaranteed dies within the policy period. The policy also offers settlement options that let the nominee receive death benefits in recurring monthly instalments for their convenience.
  • The insured is entitled to maturity rewards under the terms of the LIC Nivesh Plus policy if he lives out the policy’s term.
  • At the end of a predetermined period of the policy, the policy pays guaranteed addition as a percentage of single premiums. Depending on the type of fund chosen, the guaranteed additions will be calculated and credited to the unit funds in accordance with the NAV.
  • The life assured under the Jeevan Nivesh Plan LIC may withdraw a portion of his units once the policy has been in operation for five years.
  • The insured may return the insurance to the firm if, during the 15-day free look period for offline purchases and the 30-day free look period for online purchases of Nivesh Plus LIC, the insured is unsatisfied with the conditions of the plan. The ability to make a purchase offline through a LIC agent makes it simple. However, the official website also makes it simple to acquire the LIC Nivesh Plus plan. Before making a choice, make sure to examine Additionally, Turtlemint can help you compare several insurance options so you can pick the best one for your requirements.


Documents Required for LIC Nivesh Plus Plan

  • ID proof
  • Address proof
  • Date of birth proof


Documents required In case of a death claim

  • Claims form
  • Proof of death and medical treatment prior to death
  • Original policy document
  • NEFT mandate
  • Proof of title
  • Discharge form
  • School/ college/ employer’s certificate
  • Proof of age of the policyholder (if requested by the corporation)
  • In case of closing of policy other than deathOriginal policy document
  • Proof of age of policyholder (if requested by the corporation)
  • NEFT mandate


How to Purchase LIC Nivesh Plus Online

The steps to purchase the plan online are as follows:

  • First of all, go to the company’s official website
  • The homepage of the website will open.  
  • Click on the Buy Online option
  • Now, on the new page open, fill in all the required details like name, gender, date of birth, address, and phone number, etc
  • After that, enter any past medical issues as well as details about your drinking and smoking habits
  • Select the budget constraints and upload scanned versions of all supporting documentation.
  • Finally, once a client pays for the LIC Nivesh Plus Policy online, the procedure will be completed


Eligibility Criteria of LIC Nivesh Plus Plan

Policy tenure10 years to 35 years
Entry AgeMinimum: 90 days (completed) Maximum: 70 years for Option 1 and 35 years for Option 2 (nearer birthday)
Maturity AgeMinimum: 18 years (completed) Maximum: 85 years for Option 1 and 50 years for Option 2.
Sum Assured OptionsOption 1 – 1.25 times of the single premium Option 2 – 10 times of the single premium
Premium amountPremiums are to be paid in multiples of INR 10,000 Minimum: INR 1 Lakh Maximum: No Limit
Premium Paying ModeSingle-Premium


Investment Fund Options for LIC Nivesh Plus Plan

You have four fund choices to put your units in with the plan from LIC. If you’re not happy, you can even move your units from one fund to another.

Fund Type

Investment Objective

Risk Factor

Growth FundInvesting mostly in equities to provide long-term capital growth to the policyholders.High-risk
Balanced FundInvesting in both fixed income securities and equities in equal proportion to provide growth and balanced returns to the policyholders.Moderate risk
Secured FundInvesting in both fixed-income securities and equities to offer steady returns to the policyholders.Low to moderate risk
Bond FundInvesting in fixed-income securities provides a safe investment option for policyholders.Low risk


Leave a Comment