LIC’s Fortune Plus, a Unit Linked Limited Endowment plan, (ULIP+Endowment) which provides twin benefits of insurance and capital market return. Brief stint with premium liability and longer period to stay invested makes it a worthy of note. It has entire range of fund options to accommodate both risk averse and aggressive investors. This plan has been designed to ensure that your money earns you handsome returns. Thus with a host of innovative options placed in front of you, Fortune Plus is definitely the right kind of insurance solution you could aim at.
An investment plan where you pay premiums only for 5 years.
Premium amount reduces to 25% after first year.
Policy term or first year's annual premium determines your sum assured.
No limit for maximum premium
Premium can be paid in yearly, half yearly, quarterly and monthly (ECS) installments.
Minimum and Maximum age to purchase policy under this plan is 12 and 60 years respectively.
You can choose policy term between 5 to 20 years.
Funds available under this plan are: Bond, Secured, Balanced and Growth.
Policyholder can switch between any fund types during the policy term. 4 switches will be
allowed free.
Flexibility of partially withdrawing the units after 3 policy years.
In case of maturity the policyholder will get an amount equal to the value of the units. In case of death the policyholder is eligible to get higher of sum assured or the value of the
units.
Maturity returns can be amplified by exercising Settlement Option wherein the
policyholder can encash the units in regular installments.
If premiums are not paid after paying at least 3 years premium then also the policyholder
enjoys life cover and accident benefit (only if opted) subjected to conditions.
Accident benefit rider option can be availed under this plan
Enjoy tax benefit under section 8OCCE. Great mixture of ULIP+Endowment Insurance Plan

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