LIC Introduces Innovative Unit-Linked Life Insurance Plan: Index Plus

On Monday, Life Insurance Corporation of India (LIC) revealed the introduction of Index Plus, a unit-linked individual life insurance plan featuring regular premiums. In a statement, LIC highlighted that the plan provides a combination of life insurance coverage and savings throughout the policy’s duration.

The statement further explained, “Guaranteed additions as a percentage of annualized premium shall be added to the unit fund on completion of a specific duration of policy years under an in-force policy and shall be utilized to purchase units.” The plan incorporates an option for partial withdrawal of units, which becomes available after a five-year lock-in period, subject to specified conditions.

This new offering from LIC aims to provide policyholders with a comprehensive life insurance and savings solution, emphasizing flexibility and guaranteed additions to enhance the overall benefits of the plan.