Tuesday, February 9, 2010

LIC Wealth Plus Plan - Guaranteed returns of Highest NAV from first 7 years payable on maturity

LIC has launched a Unit Linked plan called Wealth plus plan.
The feature of this policy are as follows.
  • Highest NAV payble from first 7 years or NAV on maturity of 8th year whichever is higher on maturity.
  • single premium or 3 years premium payment
  • Min Rs 40,000 for single premium or Rs 20,000 for 3 years
  • Policy matures after 8 years
  • Risk cover 1.25 times of single premium policy / 5 times of anualized premium of 3 year policy
  • Partial withdrawal allowed after 3 years
In face of it this looks a very good product which can give guranteed returns with stock market benefit on upside and no risk on downside. but we will have to wait for the fine print on the asset allocation and charges levied on this product before we can pass a judgement on it.

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