LIC Nivesh Plus Plan
LIC Nivesh Plus is a single premium ULIP plan that combines insurance and investment in one policy. It allows you to invest your money in market-linked funds while also getting life cover. This plan is suitable for people looking for long-term wealth creation along with protection.
What is the LIC Nivesh Plus Plan?
LIC Nivesh Plus is a unit-linked, non-participating, single-premium life insurance plan where you pay once and stay covered for the policy term. Along with life insurance protection, money is invested in market-linked funds that help in wealth growth over time.
In this plan, you can choose your sum assured at the beginning and invest in one of the available fund options based on your risk preference. The premium (after charges) is used to buy units, and the value of these units depends on the Net Asset Value (NAV).
Policyholders deal with the investment risks, as it depends on market performance. Also, like all ULIPs, this plan has a 5-year lock-in period, during which you cannot withdraw or surrender your investment.
Key Highlights of LIC Nivesh Plus Plan
| Feature | Details |
|---|---|
| Plan Type | Unit Linked Insurance Plan (ULIP) with life cover + investment |
| Premium Payment | One-time (single premium) |
| Life Cover | Insurance cover throughout the policy term |
| Market-Linked Investment | Returns depend on fund performance (NAV-based) |
| Fund Choice | Option to invest in different funds as per risk level |
| Sum Assured Options | Choose 1.25x or 10x of single premium (based on age) |
| Guaranteed Additions | Extra units added at specific durations to increase fund value |
| Partial Withdrawal | Allowed after a 5-year lock-in period |
| Lock-in Period | 5 years (no withdrawal or surrender allowed) |
| Death Benefit Option | Payout available in a lump sum or instalments |
| Rider Option | Option to add an accident benefit rider for extra protection |
Eligibility Criteria for LIC Nivesh Plus Plan
| Feature | Details |
|---|---|
| Minimum Premium | Rs 1,25,000 |
| Maximum Premium | No limit |
| Premium Payment Mode | Single premium (one-time payment) |
| Minimum Entry Age | 90 days (completed) |
| Maximum Entry Age | Option 1: 70 years Option 2: 35 years |
| Minimum Maturity Age | 18 years |
| Maximum Maturity Age | Option 1: 85 yearsOption 2: 50 years |
| Sum Assured | Option 1: 1.25x of single premiumOption 2: 10x of single premium |
| Policy Term | 10 to 25 years (varies based on age and option) |
How Does LIC Nivesh Plus Plan Works?
You invest once Money grows with market performance Get fund value at maturity
Pay Once
You pay a single premium (one-time amount) to start the policy.Choose Coverage & Fund
You select:Sum Assured (1.25x or 10x of premium)An investment fund based on your risk levelMoney Gets Invested
Your premium (after charges) is used to buy units in the chosen fund. The value of these units depends on market performance (NAV).Fund Value Changes Over Time
Your investment grows or falls based on the market. But the returns are not guaranteed, and you have to bear the risk.Use Flexibility Features
You can switch fundsMake partial withdrawals after 5 yearsGet Benefits
On maturity You receive fund valueOn death The higher of the sum assured or fund value is paid
Benefits of LIC Nivesh Plus Plan
Here are some of the key benefits of the LIC Nivesh Plus plan that you should know before purchasing:
Life Cover with Investment
This plan offers life insurance along with market-linked investment, so your family stays financially protected, and your money grows over time.
Market-Linked Growth Potential
Your premium is invested in funds, and the value depends on market performance (NAV), giving you a chance to earn higher returns in the long term.
Guaranteed Additions Boost Returns
LIC adds extra units to your fund at specific policy years, which helps increase your overall investment value without extra cost.
Flexible Fund Options
You can choose from different fund types (low to high risk) based on your financial goals and risk appetite.
Flexibility to Switch Funds
You can switch between available funds during the policy term to adjust your investment strategy as market conditions change.
Partial Withdrawal Facility
After the 5-year lock-in period, you can withdraw money partially to meet financial needs while continuing the policy.
Maturity Benefit
If you survive the policy term, you receive the total fund value based on NAV, which reflects your investment growth.
Death Benefit Protection
In case of death, the nominee receives the higher of the sum assured or the fund value, ensuring financial security.
Settlement Option for Death Benefit
Your family can choose to receive the death benefit in instalments instead of a lump sum, helping manage finances better.
Optional Rider for Extra Protection
You can enhance coverage by adding an accidental death benefit rider for additional financial security.
Who Should Buy the LIC Nivesh Plus Plan?
Anyone who belongs to the following category can buy the LIC Nivesh Plan:
LIC Nivesh Plus vs Other Plans
| Feature | LIC Nivesh Plus | Other LIC Plans |
|---|---|---|
| Plan Type | Market-linked (ULIP) | Traditional plans |
| Returns | Based on market performance | Fixed/guaranteed |
| Risk Level | High (market risk) | Low |
| Investment Control | Yes (choose & switch funds) | No control |
| Premium Payment | One-time (single premium) | One-time or regular |
| Flexibility | High (fund switching, withdrawals) | Limited |
| Lock-in Period | 5 years | Depends on the plan |
| Best For | Growth + insurance | Safe and stable returns |
How to Buy LIC Nivesh Plus Plan?
To buy the plan online, follow these steps :
Step 1.
Visit the official LIC website.
Step 2.
On the homepage, select "Buy Policies Online" or choose the plan category (such as Endowment or Money Back).
Step 3.
Pick the specific plan you want to purchase.
Step 4.
Click on "Learn More" to access the application page.
Step 5.
Complete the form and upload the required documents.
Step 6.
Submit the form and pay online.
Identity proof such as Aadhaar Card, PAN Card, Passport, etc.Address proof, including Aadhaar, Driving Licence, Voter ID, etc.Age proof (Birth certificate, school certificate, passport, etc.)Recent passport-size photographBank details (cancelled cheque or account details)PAN Card (for KYC and financial transactions)
Market Risk is Involved
This is a ULIP plan, so returns depend on market performance. And, all the investment risk is borne by you.
5-Year Lock-in Period
You cannot withdraw or surrender money freely for the first 5 years. Your investment stays locked during this period.
No Loan Facility
You cannot take a loan against this policy.
Charges Are Applicable
Various charges apply, like:Premium allocation chargesFund management chargesMortality chargesSwitching and withdrawal charges
Fund Value Can Go Up or Down
Your returns are based on NAV (market value), so your investment value may increase or decrease.
Limited Liquidity in Early Years
You cannot access your money easily in the initial years due to the lock-in period.
Partial Withdrawals Have Conditions
Allowed only after 5 years, and limits apply based on the policy year.
Option cannot Be Changed Later
Once you select the sum assured option (1.25x or 10x), it cannot be changed later.
No Top-up Premium Allowed
You cannot invest extra money later in the same policy.
Returns Are Not Guaranteed
Unlike traditional plans, returns are not fixed and depend on market conditions.
Documents Required for LIC Nivesh Plus Plan
You need basic KYC documents, age proof, and bank details to buy the plan. This includes:
Things to Know About LIC Nivesh Plus Plan
Here are some important terms and conditions you should know before buying the LIC Saral plan:
Disclaimer: Squareinsurance does not promote, rate, or recommend any specific insurance company or insurance plan. The above information is for general understanding only. For complete and accurate details, please refer to the official plan brochure.
FAQs
LIC Nivesh Plus is a ULIP plan where you get life insurance along with market-linked investment.
LIC Nivesh Plus is safe for insurance, but returns depend on the market, so some risk is involved.
In LIC Nivesh Plus, you need to pay only once, as it is a single premium plan.
Yes, in LIC Nivesh Plus, you can withdraw money after 5 years, subject to conditions.
No, LIC Nivesh Plus does not offer any loan facility.
In LIC Nivesh Plus, your nominee will receive the higher of the sum assured or the fund value.