LIC’s Index Plus Plan 873 Calculator
Plan No. 873 (UIN: 512L354V01) - Estimate your potential benefits
Premium Payment Options
Note: Base Annualized Premium chosen: . Calculated Basic Sum Assured: .
Premium Details (Mode)
Year-wise Projection
Pol. Yr = Policy Year (End), Age = Life Assured's Age (End), AP = Annualized Premium. All charges (PAC, Mortality, Policy Admin, Rider, FMC) are deducted as applicable. Fund Values are illustrative based on assumed gross investment returns of 4% and 8% p.a. before deduction of Fund Management Charge (FMC of 1.35% p.a. for chosen funds). Guaranteed Additions (GA) are added to the fund as per schedule. Surrender Value shown is Unit Fund Value; Discontinuance Charge may apply in the first 4 policy years. Death Benefit is highest of BSA, Unit Fund Value, or 105% of total premiums paid. These are not guaranteed values and are for illustration purposes only.
Maturity Benefit (Illustrative)
| Particulars | @4% Fund Growth | @8% Fund Growth |
|---|
Maturity Benefit = Unit Fund Value at the end of the Policy Term. Additionally, on survival to maturity with all due premiums paid, an amount equal to the total mortality charges deducted (excluding any extra amount due to underwriting or taxes levied on mortality charges) will be refunded. Assumed gross investment returns for fund projection are 4% & 8% p.a. These are not guaranteed and actual returns may vary.
Death Benefit Illustration (Policy Year 10)
| Particulars | @4% Fund Growth | @8% Fund Growth |
|---|
On death after Date of Commencement of Risk: Highest of (Basic Sum Assured less partial withdrawals in last 2 years if any, Unit Fund Value, OR 105% of total premiums received less partial withdrawals in last 2 years if any). If ADB Rider is opted and death is accidental, ADB Sum Assured is also payable. On death before Date of Commencement of Risk: Unit Fund Value is payable. Risk commencement depends on entry age (details in policy document). Illustration assumes death in Policy Year 10 for example purposes.
Guaranteed Additions Schedule
As a percentage of one Annualized Premium, added to the Unit Fund if policy is in-force and all due premiums are paid:
| End of Policy Year | GA Rate (if AP < ₹48k) | GA Rate (if AP ≥ ₹48k) | GA Amount Added (Illustrative) (₹) |
|---|
Guaranteed Additions are subject to policy terms and conditions. If partial withdrawals are made, future GAs may be reduced pro-rata. Refer to the policy document for full details.
Plan Summary & Brochure
▼Key Features of LIC’s Index Plus (Plan 873):
- A Unit Linked, Non-Participating, Individual Life Insurance plan.
- Offers life insurance cover cum market-linked returns.
- Choice of two funds: Flexi Growth Fund (NIFTY 100 based) or Flexi Smart Growth Fund (NIFTY 50 based).
- Guaranteed Additions as a percentage of Annualized Premium added to the Unit Fund.
- Flexibility through Partial Withdrawals after the 5-year lock-in period.
- Option to enhance coverage with LIC's Linked Accidental Death Benefit Rider.
- Refund of Mortality Charges on maturity, provided all due premiums have been paid.
- Settlement option for Death Benefit (in instalments over up to 5 years).
Eligibility & Key Terms:
- Entry Age: [90] Days (completed) to [60] years (nearer birthday).
- Policy Term: If Annualized Premium < ₹48,000: [15] to [25] years. If Annualized Premium ≥ ₹48,000: [10] to [25] years.
- Premium Paying Term: Same as Policy Term (Regular Premium).
- Min. Annualized Premium: Yearly: ₹30,000; Half-Yearly: ₹15,000; Quarterly: ₹7,500; Monthly (NACH): ₹2,500.
- Max. Annualized Premium: No Limit (subject to underwriting).
- Premium Multiples: Yearly: ₹1000; Half-Yearly: ₹500; Quarterly/Monthly: ₹250.
- Basic Sum Assured (BSA):
- Age at entry up to 50 years: 7 or 10 times Annualized Premium.
- Age at entry 51 to 60 years: 7 times Annualized Premium.
- Max. Maturity Age: If BSA is 10 times AP: 75 years (nearer birthday). If BSA is 7 times AP: 85 years (nearer birthday).
- Min. Maturity Age: 18 years (completed).
Charges:
- Premium Allocation Charge (PAC): Offline: 8% (1st yr), 5.5% (2-5th yr), 4% (6th yr+). Online: 3% (1st yr), 2% (2-5th yr), 1.5% (6th yr+).
- Mortality Charge: Deducted monthly based on Sum at Risk.
- Policy Administration Charge: NIL for first 5 years. From 6th year: Min of (3.25% of AP/12 or ₹125)/month, escalating 5% p.a. (max ₹500/month).
- Fund Management Charge (FMC): 1.35% p.a. of Unit Fund value for active funds. 0.50% p.a. for Discontinued Policy Fund.
- Switching Charge: 4 free switches per year, then ₹100 per switch.
- Partial Withdrawal Charge: ₹100 per withdrawal (after 5 years).
- Discontinuance Charge: Applicable if discontinued within first 4 years (as per IRDAI norms).
- Miscellaneous Charge: ₹100 for alterations like mode change.
- ADB Rider Charge (if opted): ₹0.40 per ₹1000 ADB Sum Assured per annum.
Note: All charges are subject to applicable taxes (e.g., GST @18%). Please refer to the official sales brochure and policy document for complete and authoritative details.
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