LIC Nivesh Plus 749 – Full Details
LIC Nivesh Plus 749 is a unit-linked insurance plan (ULIP) that combines the benefits of life insurance with an investment component. This plan offered by the LIC of India allows policyholders to invest their premiums in various funds based on their risk appetite, providing an opportunity for capital appreciation over time. Moreover, the policyholder can select the sum assured when purchasing the LIC policy. Nivesh Plus LIC policy offers 4 types of investment funds and allows the policyholder to choose as per their convenience and risk appetite. The funds available are:
Bond Fund
Secured Fund
Balanced Fund
Growth Fund
Eligibility Criteria of LIC Nivesh Plus 749
| Parameters | Minimum | Maximum |
|---|---|---|
| Entry Age | 90 Days (completed) for Option 1 and 2 | 70 years (nearer birthday) for Option 1*. 35 years (nearer birthday) for Option 2**. |
| Maturity Age | 18 years | 85 years |
| Sum Assured | Under *Option 1: 1.25 times of the single premium | Under **Option 2: 10 times of the single premium |
| Policy Term | *Option 1 – If Basic Sum Assured is 1.25 X Single-Premium, the policy term is 10-25 years. **Option 2 – If Basic Sum Assured is 10 X Single Premium: | |
| • Age up to 25 years: 10–25 years | ||
| • Age 26–30 years: 10–20 years | ||
| • Age 31–35 years: 10 years | ||
| Premium Paying Mode | Single Premium only |
Benefits of LIC Nivesh Plus 749
LIC Nivesh Plus Plan 749 offers several benefits to its policyholders. They are as follows:
1. Death Benefit
If the policyholder dies during the policy term, the nominee will get a death benefit from the Nivesh Plus LIC Plan. The death benefit paid will be:
Basic Sum Assured less Partial Withdrawals, if any, made during the two-year period immediately preceding the date of death; or
Unit Fund Value.
2. Maturity Benefit
If the policyholder survives the policy’s maturity date, he will be paid a sum equal to the Unit Fund Value.
3. Guaranteed Additions
A fixed percentage of the Single Premium amount paid keeps getting added to the Policy Unit Fund once the LIC Nivesh Plus Policy has completed a specific number of years. They are as follows:
At the end of 6 years – 3%
At the end of 10 years – 4%
At the end of 15 years – 5%
At the end of 20 years – 6%
At the end of 25 years – 7%
4. Rider Benefit
A customer can obtain rider Benefits provided the LIC Nivesh Plus Plan 749 has an outstanding term of 5 years. Under the plan, the policyholder can avail of LIC’s Linked Accidental Death Benefit Rider for enhanced protection against accidental death.
Sample Premium Illustration of LIC Nivesh Plus 749
The LIC Nivesh Plus Policy premiums are to be paid as single premiums compulsorily.
Minimum premium: Rs. 1,00,000
Multiples: Rs. 10,000
Maximum premium: No limit
Example:
Mr. Sharma (Age: 30) invests ₹1,00,000 for 20 years under Option 1 (1.25× Sum Assured)
| Year | Return | Fund Value Before Additions | Guaranteed Additions | Fund Value After Additions | Sum Assured | Death Benefit |
|---|---|---|---|---|---|---|
| 6 | @4% | 1,10,338 | 3,000 | 1,13,338 | 1,25,000 | 1,25,000 |
| @8% | 1,38,538 | 3,000 | 1,41,538 | 1,25,000 | 1,41,538 | |
| 15 | @4% | 1,44,310 | 5,000 | 1,49,310 | 1,25,000 | 1,49,310 |
| @8% | 2,50,768 | 5,000 | 2,55,768 | 1,25,000 | 2,55,768 | |
| 20 | @4% | 1,67,824 | 6,000 | 1,73,824 | 1,25,000 | 1,73,824 |
| @8% | 3,47,186 | 6,000 | 3,53,186 | 1,25,000 | 3,53,186 |
Using the LIC Nivesh Plus 749 Returns Calculator, you can check the policy benefits, death benefits, and maturity benefits of your LIC Nivesh Plus Policy 749.
LIC Nivesh Plus 749 Plan Details
The LIC Nivesh Plus Plan offers flexibility with options like partial withdrawals, fund switching, and a settlement option for beneficiaries. The Nivesh Plus LIC policy details also include charges, a free-look period, and other key features, making it a versatile choice for securing financial goals.
Partial Withdrawals
Allowed after 5 years, based on age and other terms. After a withdrawal, the Sum Assured is reduced for 2 years, then automatically reinstated.
Switching
Switch between any of the 4 available fund types during the policy term. The entire fund value is transferred to the new fund on switching.
Settlement Option
Nominee can receive the death benefit in installments for up to 5 years, if opted by the policyholder during lifetime.
Charges under the Plan
Premium Allocation Charge
Mortality Charge
Accident Benefit Charge
Fund Management Charge
Switching Charge
Partial Withdrawal Charge
Discontinuance Charge
Tax Charge
Miscellaneous Charge
Free Look Period
Policyholders can cancel the plan within 15 days (offline) or 30 days (online). Refund is processed after deduction of certain charges.
How to Buy LIC Nivesh Plus 749 Online?
- Go to our contact Page fill your details
- our lic Expert Guide step by step
Documents Required for LIC Nivesh Plus 749
| For Buying | For Death Claim | For Closing (Non-Death) |
|---|---|---|
| ID proof | Claim Form, Policy Doc, NEFT mandate, Death & Title Proof | Discharge Form, Policy Doc, NEFT mandate |
| Date of birth proof | Age Proof, School/Employer Certificate | Age Proof (if requested by LIC) |
| Address proof | Medical treatment before death records |
What is Not Covered in LIC Nivesh Plus 749?
If the policyholder commits suicide within 12 months, only the Unit Fund Value is payable. The policy terminates, and no other claims are admissible.
Any charges (except FMC) deducted post-death are refunded
Any guaranteed additions after date of death will be reversed.
