LIC Endowment Plus Policy – A Review |
Posted: December 28, 2016 |
Purchasing an insurance policy makes you think. You need to be well aware of the benefits and features of the plan and make sure they suit your needs. LIC is one of the most sought after the insurance company. LIC Endowment Plus Policy is one of its well-known policies. It is an insurance plan (ULIP) where the policy holder has to be accountable with regards to investment. You might want to go through the following details of the plan. Overview of LIC Endowment Plus Policy LIC Endowment Plus Policy is a ULIP, as already mentioned. Apart from this, the overview of this scheme goes as follows.
Why Buy LIC Endowment Plus Policy? As you can see, LIC Endowment Plus Policy provides you a lump sum amount of money as well as comes with some additional riders. It has quite a few other features and options, which you can go for. As such, LIC Endowment Plus is an excellent choice of insurance plan. Features and Benefits of This Insurance Plan This insurance plan comes with some attractive features which make it a good insurance policy. While purchasing this system, you must keep in mind the following features:
The benefits that this plan provides an insurance holder with are as under:
Inclusions in The LIC Endowment Plus Policy The two major compositions of the Endowment Plus insurance plan are:
Additional Features Under this insurance coverage, you are allowed to switch between the four available fund options during the policy tenure for the entire Fund Value. This will obviously be subject to some switching charges, if applicable. Further, this policy allows for partial withdrawals. However, it is allowed only after either the completion of 5 policy years or if the policyholder is 18 years of age – whichever comes later. A Few More Facts You Should Know What happens if you stop paying your premium? Say, after five years? Well, keep in mind that if you do so, the policy fund amount accumulated up to the date of discontinuance will be paid to the insurance holder. And then, the policy will be terminated immediately. The LIC Endowment Plus Policy also allows you to take loans, under given term and conditions of the policy.
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