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Today LIC is launching a new plan called “Wealth Plus”, an unit linked insurance plan (ULIP) having a term of 8 years.

Salient features of this LIC Wealth Plus plan:

* Gauranteed return of highest NAV of the first 7 years or the 8th year NAV,whichever is higher.
* 8 years of Policy term
* Either 3 years premium payment term or single premium as per client’s choice.
* Minimum single premium of Rs 40,000 and Minimum Yearly premium of Rs 20,000.
* Risk cover of 5 times of the annualized premium or 1.25 times of single premium.
* In case of death during policy term, the plan returns basic sum assured plus fund value
* Extended risk cover for 2 years even after term end.
* Partial withdrawal allowed at any time after 3 years.
* Accident Benefit Raider (EDAB) allowed at a nominal charge of Rs 0.50 per 1000

Age Limit:
People in the age group of 10 to 65 years can avail this plan by paying a minimum premium as mentioned above. Maximum premium has no restrictions.