Fortune Plus
Summary:
LIC’s Fortune Plus is a Unit Linked Plan (ULIP) where premium payment term (PPT) is 5 years and the premium payable in the first year will be 50% of total premium payable under the policy. Fortune Plus serves the purpose of insurance-cum-investment. Four types of investment Funds are offered in Fortune Plus. The Policyholder has the option to choose any ONE out of the following 4 funds. Bond, Secured, Balanced and Growth.
Fortune Plus Features:
Payment of Premiums:
You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (ECS) intervals for 5 years. The minimum First year premium will be Rs.20,000/- and you may pay any amount exceeding it. From second year onwards each year’s premium will be 25% of the first year premium.
Partial Withdrawals:
You may encash the units partially after the third policy anniversary subject to certain conditions.
Switching of funds:
You can switch between any fund types for the entire Fund Value during the policy term subject to switching charges, if any.
Discontinuance of premiums:
If premiums are payable either yearly, half-yearly, quarterly or monthly (ECS) and the same have not been duly paid within the days of grace under the Policy, the Policy will lapse. A lapsed policy can be revived during the period of two years from the due date of first unpaid premium.
Settlement Option:
When the policy comes for maturity, you may exercise “Settlement Option” and may receive the policy money in installments spread over a period of not more than five years from the date of maturity. There shall not be any life cover during this period. The value of installment payable on the date specified shall be subject to investment risk i.e. the NAV may go up or down depending upon the performance of the fund.
Eligibility Conditions and Restrictions for Fortune Plus:
1. Minimum Age at entry: 12 years (age last birthday)
2. Maximum Age at entry: 60 years (age nearer birthday)
3. Minimum Maturity Age: 18 years (completed)
4. Maximum Maturity Age: 65 years (age nearer birthday)
5. Minimum Policy Term: 5 years
6. Maximum Policy Term: 20 years
7. Minimum Premium: Rs.20,000/- for first Premium
8. Sum Assured under the Basic Plan: Higher of 5 times the first year’s annualized premium or half of the policy term times the first year’s annualized premium.
Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to LIC of India within 15 days.
How to Apply for LIC Fortune Plus policy?
Contact your nearest Life Insurance Of India (LIC) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)
Register to receive LIC Policy updates on your Mobile . Click here: MyLICindia SMS Alert
Note:
The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.
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Leave comments:
Sir,
1. I had taken a LIC’s Fortune Plus (187-10) policy No 956351056 plan for Rs 1,00,000/- on 04 Jan 2008. I had paid two installments Rs 25,000/- each on 03 Jan 2009 and 08 Jan 2010 respectively.
2. But, so far can’t get any information about how many NAV units allotted to me for above said amounts.
3. May I request your honour to let me know how many NAV’s allotted to me on my e-mail address as early as posible.
Thanking you !
sir i have taken up LIC fortune plus (plan no 187 ),policy no 141849030,on 18-02-2008 for rs 2 lakh..so far i have paid three installments of rs 50,000,12,500,12,500 respectively. i want to know the NAV ALLOTED TO me on my email address
hi i want to know the information about policy no 471779909 i want to get all the information about this policy and its premium
I have purchased lic future plus policy no 352571040 in the name of my wife Mrs.Indu singh at single installment of Rs.50,000/- only.Pl informe current NAV OF FUTURE PLUS & MONEY PLUS-1.
Regards
(Dadan singh)
Manager (E-E)
Barapani Airport,Shillong.
(M)09856023314.
Misha shaji 07.11.2010 sir, 1. I had taken a LIC’s Fortune plan (187-10) policy No.783918334 plan for Rs.100000/- on 04.03.2008 . I had paid two installment’s Rs.25000/- each on 2009,2010 respectively. 2.May I request your honour to let me know how many NAV’s alloted to me on my e-mail address as eary posible Thanking you.
Amit 14.03.2010
Sir, I had taken a LIC’s Child Fortune plus (194) policy No.333004824 plan for Rs.4,00,000/- on Feb’2010. I had paid two installment’s Rs.20000/- each on 2010,2011 respectively.
May I request your honour to let me know how many NAV’s alloted to me on my e-mail address as eary posible
Thanking you.
sir, i had taken a LIC’s Fortune Plus (187) policy no. 536660305 plan for RS.2,00,000/-.I want to know unit statement and fund value statement of my policy. So please, send the details about both statements on my email address.
Thanking you.
sir, i had taken a LIC’s Fortune Plus (187) policy no. 655416828 plan for RS.2,00,000/-.I want to know unit statement and fund value statement of my policy. So please, send the details about both statements on my email address.
Thanking you.
Regards
C. RAVI PRAKASH.
I have Purchase FORTUNE PLUS policy on10/11/2008 & policy no is
439926116 with 1st prem. of Rs 40000/-.
Then paid two instt. of Rs 10000/- each on 11/11/2009, 11/11/2010.
Now my question?
1. How many alloted units ag. my name upto & what is unit NAV?
2. If i not continued for next 2 yrs. what i will get after 5yrs.
3. If i continued up to 5 yrs. then what i will get at end.
Pl. send your suggession / reply my ques. on my mail.
Thanking you,
ANUJ RAM KURRE
FEBRUARY 10 th, 2012 @20.00 pm
Sir,
1. I had taken a LIC’s Fortune Plus (187- 20- 05 ) policy No 385530289 plan for Rs 20,000/- on 14 Jan 2008. I had paid four installments Rs 5,000/- each on 12 th march 2009 and 05 th Jan 2010 and 13th jan 2011 and 14 th jan. 2012 respectively.
2. But, so far can’t get any information about how many NAV units allotted to me for above said amounts.
3. May I request your honour to let me know how many NAV’s allotted to me on my e-mail address as early as posible.
Thanking you !
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Life Insurance Corporation of India (LIC of India) is the largest insurance company in India. LIC of India was founded in 1956 with the merger of 200 insurance companies. Currently, LIC has Rs.9.31 trillion worth of assets. Its fully owned by Govt. of India and LIC funds about 1/4th of government expenses.
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I HAVE INVESTED FORTUNE PLUS IN DECEMBER 2008 WHAT IS
THE CURRENT MARKET VALUE OF MY PLAN MY POLICY NUMBER IS
379391985
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