Table of Contents

1. LIC Index Plus – An Overview

LIC Index Plus (Plan 837) is a Unit Linked Insurance Plan (ULIP) designed to combine the dual benefits of life insurance and market-linked investment returns. It offers flexibility, transparency, and growth potential, making it ideal for individuals aiming to secure their future while growing their wealth.


2. Key Features of LIC Index Plus

  • Investment Option: Invest in funds linked to market performance.
  • Insurance Cover: Provides life insurance along with investment.
  • Flexibility: Choose your premium payment term and policy duration.
  • Partial Withdrawals: Allowed after a specified lock-in period.
  • Tax Benefits: Premiums qualify for tax deductions under Section 80C.


3. Eligibility Criteria

  • Entry Age: Minimum 18 years, maximum 55 years.
  • Policy Term: 10 to 25 years.
  • Premium Payment Mode: Single, regular, or limited premium.
  • Minimum Premium: ₹50,000 for single premium; ₹5,000 annually for regular premium.

4. Benefits of LIC Index Plus

  • Maturity Benefit: Fund value paid at maturity.
  • Death Benefit: Higher of fund value or sum assured.
  • Fund Switching: Option to switch funds during the policy term.
  • Market-Linked Returns: Opportunity to earn better returns compared to traditional plans.

5. Optional Benefits

  • Riders: Add-on covers like accidental death benefit and disability rider.
  • Top-Up Premiums: Enhance your investment with additional premiums.

6. Policy Details of LIC Index Plus

  • Fund Options: Equity, Balanced, and Debt funds.
  • Lock-In Period: 5 years.
  • Charges: Premium allocation, fund management, and mortality charges apply.
  • Surrender Value: Allowed post lock-in with applicable charges.

7. What is Not Covered under LIC Index Plus?

  • Suicide Exclusion: If the policyholder commits suicide within the first policy year, only the fund value is returned.
  • Market Risks: Returns depend on market performance, which is subject to volatility.

8. FAQs

Q1. What is the minimum premium for LIC Index Plus?
A: The minimum premium is ₹50,000 for single premium policies.

Q2. Can I switch funds during the policy term?
A: Yes, you can switch between equity, balanced, and debt funds as per your investment goals.

Q3. Is there a lock-in period for withdrawals?
A: Yes, the policy has a 5-year lock-in period for partial withdrawals.

Q4. Are premiums eligible for tax benefits?
A: Yes, premiums are tax-deductible under Section 80C of the Income Tax Act.

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