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Home » Products » Withdrawn Plans » LIC's Flexi Plus

LIC's Flexi Plus

Date of Withdrawal : 16.11.2013

LIC’s Flexi Plus is a unit linked assurance plan, which not only provides a lump sum benefit on death but also the maturity benefit irrespective of the survival of the Policyholder. This plan is specially designed for you to provide a very good combination of protection and long term savings and also provides you greater flexibility to build a better life and realise your dreams.
Key benefits under this plan are:

  • Flexibility to choose the policy term
  • Flexibility to choose the premium paying mode as per your convenience
  • Flexibility to choose from 2 fund types to suit your investment needs
  • Flexibility of partial withdrawals to meet your emergency needs

A) Death Benefit:
On death during the policy term, when the cover is in full force:

  • Immediate lumpsum payment equal to Sum Assured shall be paid to the nominee / legal heir.
  • An amount equal to sum of all future premiums payable after the date of death shall be credited to the Policyholder’s Fund. The units shall be allocated at the unit price applicable for the fund type opted under the policy on the date of booking of liability of death.

On maturity date, units available in the Policyholder’s Fund will be multiplied by the NAV as on that date and the total fund value will be given to the nominee/legal heir.
B) Maturity Benefit:
On Life Assured surviving the date of maturity, an amount equal to Policyholder’s Fund Value shall be payable.

Risks borne by the Policyholder:
  • LIC’s Flexi Plus is a Unit Linked Life Insurance product, which is different from the traditional insurance products.
  • The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
  • Life Insurance Corporation of India is only the name of the Insurance Company and LIC’s Flexi Plus is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
  • Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer.
  • The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.
  • All benefits under the policy are also subject to the Tax Laws and other financial enactments as they exist from time to time.

Last modified date :12/04/2021
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