Nivesh Plus Plan

The Nivesh Plus Plan is a comprehensive life insurance and investment offering that combines financial security with wealth creation. Typically offered by major insurance companies, such as LIC (Life Insurance Corporation) of India, this plan provides dual benefits: a life cover for the insured and an opportunity to accumulate savings over time through disciplined investments.

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Key Features of the Nivesh Plus Plan:

  • Single-Premium Investment:
    This is a unit-linked insurance plan (ULIP) that requires a one-time premium payment. This makes it ideal for individuals seeking hassle-free investment without the need for recurring payments.

  • Life Insurance Coverage:
    The plan offers a guaranteed life cover to protect your family financially in case of an unfortunate event. The sum assured is generally a multiple of the single premium paid.

  • Flexible Fund Options:
    Policyholders can choose from a variety of fund options based on their risk appetite, ranging from equity-oriented funds for high growth potential to debt-oriented funds for stable returns.

  • Wealth Creation:
    The investment portion of the plan grows over time based on market performance, helping policyholders accumulate significant savings for future financial goals.

  • Partial Withdrawals:
    The plan allows partial withdrawals after a lock-in period, typically 5 years, making it a flexible option for meeting unforeseen expenses or achieving medium-term goals.

  • Tax Benefits:
    Contributions to the Nivesh Plus Plan may qualify for tax benefits under Section 80C of the Income Tax Act, and the maturity proceeds could be exempt under Section 10(10D), subject to prevailing tax laws.

  • Maturity Benefits:
    On maturity, the policyholder receives the fund value, which includes the invested amount and market-linked growth. This can help achieve financial milestones like funding education, purchasing property, or planning for retirement.

Suitability:

    • The Nivesh Plus Plan is ideal for individuals seeking:

      • A one-time investment option with long-term financial growth potential.
      • Protection for their family through life insurance.
      • Flexibility in choosing investment funds tailored to their financial goals.
      • A combination of market-linked returns and financial security.

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LIC Policy Features: