LIC Samridhi Plus Plan

• Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
• Claim up to Rs. 1,50,000 deduction under section 80C**
• Choose between annual and monthly premium payment options

Keeping in mind the need to safeguard the investments of their customers, LIC has rolled out the Samridhi Plus Plan. The LIC Samridhi Plus Plan offers protection for the customer against market fluctuation. Policyholders are entitled to the fund value at the end of the policy term. With the LIC Samridhi Plus Plan, policyholders have the choice between the Single Premium or a Limited Premium.

Eligibility - Who is the LIC Samridhi Plus Plan for?

To be eligible to the LIC Samridhi Plus Plan, customers need to meet certain criteria with regard to their age and the premium paying term.

Sum Assured and Premium Range - What you get and what it costs?

Sum Assured: The sum assured varies if the policyholder has chosen either the Single Premium or the Limited Premium.

Limited Premium: If the policyholder is below the age of 45 years, he/she is entitled to a maximum of 20 times the annualised premiums and a minimum of 10 times the annualised premiums as the sum assured.

If the policyholder is above the age of 45, he/she is entitled to a maximum of 10 times the annualised premiums and a minimum of 7 times the annualised premiums.

Single Premium: If the policyholder is below the age of 45 years, he/she is entitled to a minimum of 1.25 times the annualised premium and for policyholders below the age of 45, he/she is liable to a minimum of 1.10 times the annualised premium. Policyholders up to the age of 55 years, they are entitled to a maximum sum assured of 5 times the annualised premium and 1.25 times the annualised premium if they are aged between 56 years to 65 years.

Premiums: Policyholders can choose between the Single Premium option or the Limited Premium option.

Plan Coverage - What the LIC Samridhi Plus Plan covers?

The LIC Samridhi Plus Plan comes with death and maturity benefits. The details are listed below.

Other Key Features – Freelook Period, Surrender Values, Grace Period etc.

LIC Samridhi Plus Plan comes with key features such as revival, grace period, free-look period and so on.

Tax Benefits – How you can save with the LIC Samridhi Plus Plan

In accordance with the Income Tax Act 1961, policyholders of the LIC Samridhi Plus Plan can avail tax benefits under:

• Section 80C of the Income Tax Act, 1961, for the premium contributions made towards the scheme.
• Section 10 (10D) of the Income Tax Act, 1961, for proceeds from death benefits.

Other Benefits – How you can save with the LIC Samridhi Plus Plan?

• Customers can make use of the online customer portal at the LIC Insurance website to access their life insurance details.
• The website also enables policyholders to pay for the LIC Samridhi Plus Plan online.
• Payments for LIC Samridhi Plus Plan can be made through the following channels:
  • Credit cards - American Express, Visa, Maestro, MasterCard, and Diners Club cards are accepted.
  • Debit cards - Visa, Maestro, MasterCard, and RuPay cards can be used to make online payments.
  • Bill Junction - Customers can login to Bill Junction and make premium payments.
  • Netbanking - Customers can pay premiums through the net banking facility offered by their banks.
  • e-Wallets - Premium payment can be done through e-Wallets such as iCashCard, Airtel Money, ITZCash, Jio Money, Oxigen, PayCash, and Idea Money
• The LIC also gives customers the comfort of requesting for a callback.

Why you should buy the LIC’s New Term Assurance Rider Plan from LIC?

The LIC Samridhi Plus Plan offers policyholders the benefit of protection of their investments against market fluctuation. In addition, the LIC Samridhi Plus Plan offer a lump sum coverage to the nominee of policyholder in case of untimely or unfortunate death, giving them financial security when they need it the most.

A state-owned insurance group, LIC is currently the largest insurer in the country with an asset value of $240 billion. Adding to their reputation in the country, in the financial year of 2016-2017, LIC recorded a claim settlement ratio of 98. 19% - the highest till date by a margin. LIC sets themselves apart from other insurers by having a dedicated customer support team that works round-the-clock and holds customer satisfaction as their priority.