Sure, here is a summary of the LIC Profit Plus policy details:



LIC Profit Plus is a unit-linked life insurance plan that offers a combination of life insurance protection and investment opportunities. The plan provides a guaranteed sum assured on death and the potential for high returns through investment in a variety of funds.

Key features of the LIC Profit Plus plan:

  • Unit-linked: The plan offers a variety of investment options to choose from, allowing you to tailor your investment strategy to your risk appetite and return expectations.
  • Guaranteed sum assured: The plan provides a guaranteed sum assured on death, regardless of the performance of the funds.
  • Maturity benefit: On maturity, you receive the accumulated fund value along with any bonuses declared by the Corporation.
  • Tax benefits: Premiums paid towards the plan are eligible for tax deductions under Section 80C of the Income Tax Act.

Benefits of the LIC Profit Plus plan:

  • Potential for high returns: The plan offers the potential for high returns through investment in a variety of funds.
  • Flexibility: The plan allows you to choose from a variety of investment options and switch between funds as needed.
  • Life insurance protection: The plan provides a guaranteed sum assured on death, offering financial protection for your loved ones.
  • Tax benefits: Premiums paid towards the plan are eligible for tax deductions under Section 80C of the Income Tax Act.

Eligibility for the LIC Profit Plus plan:

  • Age: 18 to 55 years
  • Sum assured: Rs. 50,000 to Rs. 2 crores
  • Premium payment term: Single premium, 3 years, 4 years, or 5 years

Documents required for the LIC Profit Plus plan:

  • Completed proposal form
  • Proof of identity and age
  • Address proof
  • Income proof (if applicable)
  • Medical examination report (if applicable)

How to apply for the LIC Profit Plus plan:

You can apply for the LIC Profit Plus plan online or through an LIC agent.

Here are some additional details about the LIC Profit Plus plan:

  • Premium allocation: The premium paid towards the plan is allocated into two parts: a risk cover charge and a fund value. The risk cover charge is used to provide the life insurance protection, while the fund value is invested in the chosen funds.
  • Fund options: The plan offers a variety of fund options to choose from, including equity funds, debt funds, and balanced funds.
  • Switching: You can switch between funds as needed, subject to certain restrictions.
  • Partial withdrawals: You can make partial withdrawals from your fund value after five years of policy inception.
  • Surrender: You can surrender the policy after three years of policy inception, but you will receive a reduced sum assured.

Please note that this is just a summary of the LIC Profit Plus plan. The full details of the plan are available in the policy document. You should carefully read the policy document before applying for the plan.