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LIC money plus is Unit Linked insurance plan. You can view the number of Units allotted from the customer portal. money plus NAV is updated daily on LIC website. Number of units allotted multiplied by today's NAV will be your cash value.
This is a ULIP Endowment plan with regular premium payment term which offers investment cum insurance cover during the term of the policy. You can decide the level of cover within the limits, which will depend on the level of premium you ready to pay.
Eligibility Conditions And Other Limitations:
(a) Minimum Age at entry - 0 (age last birthday)
(b) Maximum Age at entry - 65 years (age nearer birthday)
(c) Minimum Maturity Age - 18 years (completed)
(d) Maximum Maturity Age - 75 years (age nearer birthday)
(e) Policy Term - 10, 15 to 30 years
Partial Withdrawals: Allowed after three years of completion by encashing units.
Switching: Switch over is allowed , there may be some charges.
You cannot Increase / Decrease of risk covers:
Reinstatement: A policy once surrendered cannot be reinstated.
Cooling off period: If you are not happy or satisfied with the “Terms and Conditions” of the policy, you may give back the policy to LIC within 15 days.
Loan: not available.
Assignment: is allowed.
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