LIC's Wealth Plus policy details

priya · 02-10-2010, 01:16 PM

I am looking for the new policy information "LIC's Wealth Plus" plan. Can you give me some key points or detailed information about wealth Plus. I am very keen in investment plans.

I also heard that LIC is offering guaranteed highest NAV than any other company. Please explain me.

**lic-agent** · 02-13-2010, 01:17 AM

Hi Priya,

Here is the key points

1. LIC Wealth Plus is Unit Linked Plan with Policy Term of 8 years.
2. Free Insurance Cover for 2 years after maturity.
3. Amount payable on maturity will be based on highest NAV in the 1St 7 years or the NAV at the end of 8 years whichever is higher.
4. Accident benefit upto 50 lacs is available. (Accident Benefit Raider (EDAB) allowed at a nominal charge of Rs 0.50 per 1000)
5. 3 years premium payment term or single premium (Your choice)
6. Minimum single premium of Rs 40,000 and Minimum Yearly premium of Rs 20,000
Min. premium Rs. 2000/- p.m. for monthly (ECS) mode. Maximum premium - No limit.
7. Min. Age of 10 years & Max. 65 years.
8. Min. Sum Assured - 5 times the annualized premium & 1.25 times Single premium.
9. Partial withdrawal allowed at any time after 3 years.

LIC Wealth Plus is good ulip policy.

If you have any question on LIC Wealth Plus plan then ask here.

LIC Wealth Plus Plan details 2010. LIC Wealth Plus policy

sampatb · 02-15-2010, 09:56 AM

Can you clarify the following charges in LIC Wealth Plus

Yearly Premimum Allocation Charge (from 2nd year, assuming every year an amount is invested)
Risk Cover Charge / Mortality Charge,
Policy Administration Charge,
Fund Management Charge,
Rider Charge.
Other charges are:
Switching Charge (Equity to Debt funds, vice versa)
Service Tax Charge,
Miscellaneous Charge / Alteration Charge

Thanks

**lic-agent** · 02-17-2010, 01:29 PM

Quote:

Originally Posted by sampatb

Can you clarify the following charges in LIC Wealth Plus

Yearly Premimum Allocation Charge (from 2nd year, assuming every year an amount is invested)
Risk Cover Charge / Mortality Charge,
Policy Administration Charge,
Fund Management Charge,
Rider Charge.
Other charges are:
Switching Charge (Equity to Debt funds, vice versa)
Service Tax Charge,
Miscellaneous Charge / Alteration Charge

Thanks

Allocation Charge: 5%
Mortality Charge: NA
Policy Administration Charge: Rs.60/mo first year then Rs.25/mo
Fund Management Charge: 1%
Rider Charge: NA
Other charges are: 0.35% guarantee charges
Switching Charge: NA

Let me know, if you have any more question.

Gummi · 03-03-2010, 06:44 AM

I have some doubts in the policy.

1) If I take Single Premium of Rs.40000, What is the sum assured at the
end of 8 years? if I take yearly I need to pay Rs.20000/Year,
Which one is the best?

2)What is the fine if I take money after 3 years?

3)What is the insurance cover in that case?What is the cost
of accidental benefit during the course of the policy

4) Can I take more than 1 policy in my name or someone else name?

SamirLIC · 03-04-2010, 11:53 PM

See if you go for single then the mini S.A will be 1.25 times of the premium where as in regular premium the S.A will be mini 5 times and maximum 10 times of the besic premium.

I suggest u to take more S.A. at a lower age. coz Higher some assur gives future protecion to our family. at the same tahe S.A is a cost effective compair to the age. cost of the S.A increase with the increase in age...

SO GO FOR WELTH PLUS 20000-50000 YEARLY PREMIUM. WITH MAXIMUM S.A 10 TIMES. YOU CAN TAKE MORE THEN ONE POLICY IN MULTIPAL OF 20000 EACH...

NOTICE:-
This plan is for 8 years, if u will be with com. for 8 years then and then only you will get the HIGHEST NAV rest if you surrender after 3years then you are going to get only the fund value on the sate of surrender.....NO SURRENDER CHARGES IS THERE.....

FOR MORE DETAIL CALL ME ON 9898399219. I can show you some more options wi LIC itself...

vaibogam · 03-11-2010, 07:39 PM

Can you please give example for

"8. Min. Sum Assured - 5 times the annualized premium & 1.25 times Single premium."

Quote:

Originally Posted by lic-agent

Hi Priya,

Here is the key points

1. LIC Wealth Plus is Unit Linked Plan with Policy Term of 8 years.
2. Free Insurance Cover for 2 years after maturity.
3. Amount payable on maturity will be based on highest NAV in the 1St 7 years or the NAV at the end of 8 years whichever is higher.
4. Accident benefit upto 50 lacs is available. (Accident Benefit Raider (EDAB) allowed at a nominal charge of Rs 0.50 per 1000)
5. 3 years premium payment term or single premium (Your choice)
6. Minimum single premium of Rs 40,000 and Minimum Yearly premium of Rs 20,000
Min. premium Rs. 2000/- p.m. for monthly (ECS) mode. Maximum premium - No limit.
7. Min. Age of 10 years & Max. 65 years.
8. Min. Sum Assured - 5 times the annualized premium & 1.25 times Single premium.
9. Partial withdrawal allowed at any time after 3 years.

LIC Wealth Plus is good ulip policy.

If you have any question on LIC Wealth Plus plan then ask here.

LIC Wealth Plus Plan details 2010. LIC Wealth Plus policy

kiranvalvankar · 03-11-2010, 11:31 PM

Hi, i have few queries regarding this policy:
1) what is the minimum sum assured i will get other that highest NAV for eg. if i invested 40k single time then at the time of maturity, how much guaranteed amount i will get ?? i mean 1 lakh/1.20 lakh ??
2) Can i put this policy as a mortgage for loan in bank? if yes then how much amount will be considered for loan for 40k policy ?
3) Is there any Tax benefit for this plan ??
4) Now i am 27 years old so which mode of payment will give me highest return? i.e. 2k per month/20k per year/ 40k single time

SamirLIC · 03-19-2010, 05:18 AM

Dear vaibogam

Its very simple i give u one example,

Welth plus comes with Sum Assured right,

~~~~Now if you will select a regular premium paying mode then you have 2 options 1st is S.A= mini 5time of 1st year premium, 2nd is S.A= Max up to 10 times of 1st year premium.

e.g premium is 20,000 rs. yearly for 3years

then mini S.A.= 1,00,000rs.
and max S.A.= 2,00,000rs. now its up to customer to select S.A. level between 1lac to 2lac, but not less then 1lac and not more then 2lac.

~~~~~~Now if you select Single premium option, e.g. 40,000rs. single one time pay then the S.A. will be 1.25 times only, it means 1.25 times of 40,000rs premium= 50,000rs will be your SUM ASSURED.

Thanks & Regards
SAMIR DAVE
LIC of INDIA
Ph:- 09898399219

SamirLIC · 03-19-2010, 05:26 AM

Dear kiranvalvankar,

Answer 1= you will minimum get 2.5 to 3times of the total investment on the 8th year.

Answer 2= No, you Can not put this policy as a mortgage for loan in bank?

Answer 3= 100% investment with this policy is TAX free

Answer 4= 20k to 50k per year for next 3years depanding on your saving power.

02-10-2010, 01:16 PM	#1
priya Junior Member Join Date: Jan 2010 Posts: 6	LIC's Wealth Plus policy details I am looking for the new policy information "LIC's Wealth Plus" plan. Can you give me some key points or detailed information about wealth Plus. I am very keen in investment plans. I also heard that LIC is offering guaranteed highest NAV than any other company. Please explain me.

02-13-2010, 01:17 AM	#2
lic-agent LIC Agent Join Date: Dec 2009 Location: Mumbai Posts: 24	LIC Wealth Plus ULIP plan Hi Priya, Here is the key points 1. LIC Wealth Plus is Unit Linked Plan with Policy Term of 8 years. 2. Free Insurance Cover for 2 years after maturity. 3. Amount payable on maturity will be based on highest NAV in the 1St 7 years or the NAV at the end of 8 years whichever is higher. 4. Accident benefit upto 50 lacs is available. (Accident Benefit Raider (EDAB) allowed at a nominal charge of Rs 0.50 per 1000) 5. 3 years premium payment term or single premium (Your choice) 6. Minimum single premium of Rs 40,000 and Minimum Yearly premium of Rs 20,000 Min. premium Rs. 2000/- p.m. for monthly (ECS) mode. Maximum premium - No limit. 7. Min. Age of 10 years & Max. 65 years. 8. Min. Sum Assured - 5 times the annualized premium & 1.25 times Single premium. 9. Partial withdrawal allowed at any time after 3 years. LIC Wealth Plus is good ulip policy. If you have any question on LIC Wealth Plus plan then ask here. LIC Wealth Plus Plan details 2010. LIC Wealth Plus policy

02-15-2010, 09:56 AM	#3
sampatb Junior Member Join Date: Feb 2010 Posts: 1	Charges Can you clarify the following charges in LIC Wealth Plus Yearly Premimum Allocation Charge (from 2nd year, assuming every year an amount is invested) Risk Cover Charge / Mortality Charge, Policy Administration Charge, Fund Management Charge, Rider Charge. Other charges are: Switching Charge (Equity to Debt funds, vice versa) Service Tax Charge, Miscellaneous Charge / Alteration Charge Thanks

03-03-2010, 06:44 AM	#5
Gummi Junior Member Join Date: Mar 2010 Posts: 1	I have Questions here to Answer I have some doubts in the policy. 1) If I take Single Premium of Rs.40000, What is the sum assured at the end of 8 years? if I take yearly I need to pay Rs.20000/Year, Which one is the best? 2)What is the fine if I take money after 3 years? 3)What is the insurance cover in that case?What is the cost of accidental benefit during the course of the policy 4) Can I take more than 1 policy in my name or someone else name?

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03-04-2010, 11:53 PM	#6
SamirLIC LIC Agent Join Date: Feb 2010 Location: Baroda, Gujarat, India.. Posts: 11	See if you go for single then the mini S.A will be 1.25 times of the premium where as in regular premium the S.A will be mini 5 times and maximum 10 times of the besic premium. I suggest u to take more S.A. at a lower age. coz Higher some assur gives future protecion to our family. at the same tahe S.A is a cost effective compair to the age. cost of the S.A increase with the increase in age... SO GO FOR WELTH PLUS 20000-50000 YEARLY PREMIUM. WITH MAXIMUM S.A 10 TIMES. YOU CAN TAKE MORE THEN ONE POLICY IN MULTIPAL OF 20000 EACH... NOTICE:- This plan is for 8 years, if u will be with com. for 8 years then and then only you will get the HIGHEST NAV rest if you surrender after 3years then you are going to get only the fund value on the sate of surrender.....NO SURRENDER CHARGES IS THERE..... FOR MORE DETAIL CALL ME ON 9898399219. I can show you some more options wi LIC itself...

03-11-2010, 11:31 PM	#8
kiranvalvankar Junior Member Join Date: Mar 2010 Posts: 1	Hi, i have few queries regarding this policy: 1) what is the minimum sum assured i will get other that highest NAV for eg. if i invested 40k single time then at the time of maturity, how much guaranteed amount i will get ?? i mean 1 lakh/1.20 lakh ?? 2) Can i put this policy as a mortgage for loan in bank? if yes then how much amount will be considered for loan for 40k policy ? 3) Is there any Tax benefit for this plan ?? 4) Now i am 27 years old so which mode of payment will give me highest return? i.e. 2k per month/20k per year/ 40k single time

03-19-2010, 05:18 AM	#9
SamirLIC LIC Agent Join Date: Feb 2010 Location: Baroda, Gujarat, India.. Posts: 11	Dear vaibogam Its very simple i give u one example, Welth plus comes with Sum Assured right, ~~~~Now if you will select a regular premium paying mode then you have 2 options 1st is S.A= mini 5time of 1st year premium, 2nd is S.A= Max up to 10 times of 1st year premium. e.g premium is 20,000 rs. yearly for 3years then mini S.A.= 1,00,000rs. and max S.A.= 2,00,000rs. now its up to customer to select S.A. level between 1lac to 2lac, but not less then 1lac and not more then 2lac. ~~~~~~Now if you select Single premium option, e.g. 40,000rs. single one time pay then the S.A. will be 1.25 times only, it means 1.25 times of 40,000rs premium= 50,000rs will be your SUM ASSURED. Thanks & Regards SAMIR DAVE LIC of INDIA Ph:- 09898399219

03-19-2010, 05:26 AM	#10
SamirLIC LIC Agent Join Date: Feb 2010 Location: Baroda, Gujarat, India.. Posts: 11	Dear kiranvalvankar, Answer 1= you will minimum get 2.5 to 3times of the total investment on the 8th year. Answer 2= No, you Can not put this policy as a mortgage for loan in bank? Answer 3= 100% investment with this policy is TAX free Answer 4= 20k to 50k per year for next 3years depanding on your saving power.