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LIC Nivesh Plus (Plan No. 849)

LIC Nivesh Plus is a unit-linked, non-participating and single premium individual life insurance plan. It offers insurance cum investment benefits that help you to stay protected and earn great returns. The plan allows the insured to monetize the investment opportunities associated with the stock market. It offers guaranteed additions at low charges. LIC allows the insured to invest in LIC Nivesh Plus Policy through online and offline modes.

LIC Nivesh Plus Policy: Eligibility

Minimum entry age90 days-70 years
Basic sum assuredOption 1: 1.25 times of single premium
Option 2: 10 times of single premium
Policy tenure10-35 years
PremiumMinimum 1 lakh and no maximum limit
Lock-in period5 years
Max maturity age85 years

Key Features

Death Benefit:

On the death of the insured, the nominee will be liable to receive the death benefits. In case of death before the date of commencement of risk, an amount which will be equal to the unit fund value will be paid. If the death occurs after the date of commencement of risk, an amount which will be higher of basic sum assured or unit fund value is payable.

Maturity Benefit:

In the case where the insured survives until the maturity date, he/she will receive an amount which will be equal to the unit fund value as maturity benefit.

Guaranteed Additions:

LIC Nivesh Plus Plan offers guaranteed additions. It will be a fixed percentage of the single premium as mentioned below.

End Of The Policy YearGuaranteed Addition

Partial Withdrawals:

The plan allows for partial withdrawals. The insured can do the same after completing 5 years of the policy. It can be in the form of a fixed amount of fixed number of units. In case of a minor, the partial withdrawal is allowed after 18 years of age.


The plan allows the insured to switch among 4 different funds during the fixed policy tenure. If the insured opts for switching, the entire fund value will get the switch to the new fund.


The plan offers the option to receive the death benefits in instalments.


The insured is allowed to surrender the policy in case of need. If you surrender the plan in the initial 5 years, the unit fund value after deduction of the discontinuance charges will be payable. If you surrender after the end of the lock-in period (5 years), the entire unit fund value will be payable.

Free-look Period:

The plan comes out with a free look period of 15 days under which you are allowed to cancel the plan and get a refund (if you want).


The insured can’t avail loan against LIC Nivesh Plus Policy.

LIC Nivesh Plus Plan: Charges You Need To Pay

As LIC Nivesh Plus is a ULIP plan, the insured has to pay multiple charges under the same. Let’s check them below-

Premium Allocation Charges: The company will collect the premium allocation charges at the starting of the policy. Such charges will be reduced from your single premium and the balance can be used to buy the units. Below are the premium allocation charges that you need to pay-

  • Offline Sale – 3.3%.
  • Online Sale – 1.5%.

Mortality Charges: The company will take the mortality charges at the time of commencement of the policy only for the insurance cover. It will be based on the sum at risk which is the difference between the basic sum assured and the unit fund value.

Fund Management Charges: It is a fee that is required to run the funds under LIC Nivesh Plus. It will be similar to the expense ratio under mutual funds which is fund management fees.

It is 1.35% of the total fund value.

In case of discontinued policy, the same would be around 0.5% of the fund in the year.

Discontinuation Charges: The same charge would be levied by cancelling the units in the policy.

1st yearLower of 2% of single premium or fund value. The max is Rs 3,000.
2nd yearLower of 1.5% of single premium or fund value. The max is Rs 2,000.
3rd yearLower of 1% of single premium or fund value. The max is Rs 1,500.
4th yearLower of 0.5% of single premium or fund value. The max is Rs 1,000.
Lower of 0.5% of single premium or fund value. The max is Rs 1,000.Nil

Optional Rider

Accidental Death Benefit is available as an optional rider under LIC Nivesh Plus. You can opt for the rider at the time of policy commencement or the anniversary of the policy. The benefit of this additional rider will be available till the date of maturity or till the policy anniversary. In case of accidental death, the rider will pay an accidental death benefit sum assured along with the death benefit under the basic plan. The accidental death benefit sum assured can’t exceed the limit of the basic sum assured.


Suicide: If the life insured committed suicide during the initial 12 months of the policy, the beneficiary or the nominee will receive the available unit fund value. The plan will not entertain any other coverage under the plan and will be terminated.


1. What is the compulsory termination under LIC Nivesh Plus?

If the plan has already run for 5 years and the balance that you have in the unit fund is not sufficient to recover the required charges, the policy will be terminated and the balance in the unit fund shall be refunded.

2. What are the different types of funds available under LIC Nivesh Plus Plan?

The plan has come out with 4 fund options which include secured fund, bond fund, balanced fund and growth fund.

3. Is there any grace period under LIC Nivesh Plus Policy?

Yes, LIC Nivesh Plus comes out with a grace period of 15 days under which you can make the payment of due premium after the premium payment date.

4. How many free switches are allowed under LIC Nivesh Plus?

LIC Nivesh Plus allowed the insured to make 4 free switches.

5. Does the plan offer any liquidity during the initial years of the policy?

The plan does not offer any liquidity benefit during the first five years of the plan.

6. What are the partial withdrawal charges under Nivesh Plus?

Rs.100 is the charge that you need to pay to process the partial withdrawal.

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Last updated on July, 2020