if i will put mony in market plus what are the benifit?

Answer 1

it is a ulip policy catering insuance and investment

but
best way is to do it sepratly
buy any balance mutual fund and a term plan so that u will get better cover and higher return

Answer 2

LIC's MARKET PLUS:

This is a unit linked deferred pension plan. You can take the plan with or without risk cover. You can also choose the level of cover within the limits, which will depend on whether the policy is a Single premium or Regular premium contract and on the level of premium you agree to pay.

The allocated premiums will be applied to purchase units as per the Fund type chosen. Your Unit Account will be subject to deduction of charges as specified in the Policy Conditions. The value of the units in the Unit Fund may increase or decrease, depending on the investment return of the assets representing the chosen Fund.

Payment of Premiums: You may pay premiums regularly at yearly, half-yearly or quarterly intervals over the term of the policy. The minimum annual premium will be Rs.5,000/- increasing thereafter in multiples of Rs.1,000/-. Alternatively, a Single premium can be paid subject to a minimum of Rs.10,000 and thereafter in multiples of Rs.1,000.

Benefits:

A) Death Benefit:

If the Life cover is opted for, the Sum Assured under the Basic Plan together with the Fund Value of units either as a lump sum or as pension. In case the policy is taken without life cover, then the Fund Value of the units held in the Policyholder’s Unit Account shall be payable either as a lump sum or as a pension.

The amount of pension will depend on the then prevailing immediate annuity rates under the annuity option chosen.


B) Benefit on Vesting:

On your surviving to the date of vesting, the Fund Value of the units held in your Unit Account will compulsorily be utilised to provide a pension based on the then prevailing immediate annuity rates under the relevant annuity option. However, you may opt to commute up to one-third of the Benefit to be paid as a lump sum. Further, you may choose to purchase pension from LIC or other life insurance company.



Accident Benefit Option: If you have opted for life cover, you may opt for Accident Benefit equal to life cover subject to minimum Rs. 25,000 and maximum Rs. 50 lakh (taken all policies with LIC of India and other insurers). In case of death by Accident, an additional sum equal to Accident benefit will be payable.