Profit Plus and Fortune Plus : 2 new unit linked plans

LIC of India launches its 2 unit linked plans – Profit Plus & Fortune Plus. Both the plans are unit linked endowment plans combining insurance cover with market related returns.
About LIC of India’s Profit Plus :

Premium can be paid in single instalment or in instalments of 3,4 or 5 years. The premium allocated to purchase units under the plan will be invested according to the investment pattern chosen from among the 4 fund types that are Bond fund, Secured fund, Balanced fund and Growth fund. Critical illness Rider benefit and accident benefit are optional to add on extra payments. Premium paid by the policyholder after deduction of administrative charges, fund management charges [FMC], Risk premium and premium for riders opted will be invested in the fund type chosen.

The minimum premium is Rs 20,000 for single premium and Rs 10,000 pa for Limited premium paying term policies.The plan is available for persons aged 0 to 65 years.

About LICI’s Fortune Plus :-

Here the premium payment is limited to 5 years and the premium payable in the first year is four times the premium payable in subsequent years.

E.g.: If someone opt for a premium of Rs 1,00,000 the premuim for 2,3,4 and 5th year will be Rs25,000 only.

The plan is available for persons in the age group of 12 to 60 years.

The minimum premium payable is Rs 20,000 for the first year.

Common features of both plans :-

There is no bid offer spread i.e. the sale & purchase of the units will be the same as the NAV declared on day to day basis.

There will be option to switch over from one fund to another fund. Within a given
policy year four switches will be allowed free of charge.

Partial withdrawls are allowed after the third policy anniversary after atleast three years premia have been paid.

Higher of the sum assured or the policyholder`s fund value shall be available as death benefit. On maturity an amount equal to the Policyholder`s fund value is payable.

For More Details contact LIC Agent or Visit LIC Branch

Regards:
Tarun K Bansal : Life Inusrance Advisor, Delhi
Member: http://www.savingwala.com

A.K. Dasgupta: Managing Director of LIC of India

Mr. A K Dasgupta takes over as Managing Director ofLife Insurance Corporation of India Mr. A K Dasgupta, a direct recruit of 10^th batch has taken over charge as the Managing Director of Life Insurance Corporation of India. A science graduate fromDibrugarh University & also PGDBM from Punjab University, Mr. A K Dasgupta has held various important posts in the Corporation such as Sr Divisional Manager, Guwahati & Karnal, Deputy General Manager, LIC(International) Bahrain, Regional Manager(Marketing), Western Zone, Mumbai, Chief Executive, LIC Housing Finance, Mumbai & Zonal Manager, LIC, Central Zone, Bhopal. Prior to his taking over as MD he was heading the International Operations & Corporate Communications Department as Executive Director in the Corporate Office.  Apart from being associated with many organizational development programmes in LIC, he was also instrumental in introducing many new initiatives. In LIC HFL he also led the successful maiden GDS issue of the Company. He is a strategist and has taken many initiatives to enhance the image of the Corporation through publicity activities & leverage information technology for giving boost to the marketing activities. His hobbies are traveling & photography & he is a voracious reader. His vision is to bring about qualitative changes in the marketing strategies of theCorporation & expand the horizon of activities.

Source: LIC of India’s official Website
Contributed by: 
Tarun 
Member: http://www.savingwala.com