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[QUOTE=muthukalee;293188][B][U]Name of the Organisation  [/U][/B]: Life Insurance Corporation of India (licindia.in)
[B][U]Type of Announcement  [/U][/B]: Flexi Plus Insurance Plans

[URL]http://www.licindia.in/Flexi_Plus_Features.htm[/URL] 
[URL]http://www.licindia.in/[/URL] 
[B][U]Flexi Plus [/U][/B]:
“IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER”
LIC’s Flexi Plus is a unit linked assurance plan, which not only provides a lump sum benefit on death but also the maturity benefit irrespective of the survival of the Policyholder. This plan is specially designed for you to provide a very good combination of protection and long term savings and also provides you greater flexibility to build a better life and realise your dreams.

[B][U]Key benefits under this plan are[/U][/B]:
    Flexibility to choose the policy term
    Flexibility to choose the premium paying mode as per your convenience
    Flexibility to choose from 2 fund types to suit your investment needs
    Flexibility of partial withdrawals to meet your emergency needs

[B][U]Payment of Premiums[/U][/B]: You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over the term of the policy.

A grace period of 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly (ECS) premiums.

[B][U]Eligibility Conditions And Other Restrictions[/U][/B]:
(a) Minimum Age at entry    -           18 years (last birthday)
(b) Maximum Age at entry    -           50 years (nearest birthday)
(c) Maximum Maturity Age  -           60 years (nearest birthday)
(e) Policy Term                          -        10 to 20 years

[B][U]Premium Amount      [/U][/B]:
[B][U]Mode Minimum (Rs.)  Maximum (Rs.) [/U][/B]:
Yearly  15,000 100,000
Half-Yearly         10,000 50,000
Quarterly 5,000 25,000
Monthly (ECS)  2,000 8,000

[B][U]Sum Assured under the Plan [/U][/B]:
(10 * annualized premium) or (105% of the total premiums paid including any premiums which have fallen due but not paid), whichever is higher

[B][U]Method of Calculation of Unit price[/U][/B]:
    Units will be allotted based on the Net Asset Value (NAV) of the respective fund as on the date of allotment.  There is no Bid-Offer spread (the Bid price and Offer price of units will both be equal to the NAV).  The NAV will be computed on daily basis and will be based on investment performance and Fund Management Charge of each type of fund and shall be computed as:

Market Value of investment held by the fund + Value of Current Assets – Value of Current Liabilities & Provisions, if any / Number of Units existing on Valuation Date (before creation / redemption of Units)

[B][U]Other Charges[/U][/B]: 
The following charges shall be deducted during the term of the policy;-

[B][U]Policy Administration charge [/U][/B]: This charge shall be deducted on monthly basis by cancelling appropriate number of units out of the Policyholder’s Fund Value.

[B][U]The Policy Administration Charge per month shall be as follows[/U][/B]:
            Policy Year                            Policy Admin Charge (per month)
              1st Year                                Rs. 50
              2nd Year                              Rs. 41.20
             3rd Year                                Rs. 42.44
             4th Year                                Rs. 43.71
              5th Year                               Rs. 45.02
             6th Year & Thereafter           Rs. 34.78 in 6th year escalating at 3% p.a. thereafter

[B][U]Fund Management Charge [/U][/B]: This is a charge levied as a percentage of the value of assets at following rates:
         0.50% p.a. of Unit Fund for “Debt” Fund
         0.60% p.a. of Unit Fund for “Mixed” Fund
            Fund Management Charge shall be appropriated while computing NAV.

No Fund Management Charge shall be deducted on Discontinued Policy Fund.

[B][U]Switching Charge [/U][/B]: This is a charge levied on switching of monies from one fund to another. Within a given policy year 4 switches will be allowed free of charge. Subsequent switches in that year shall be subject to a switching charge of Rs. 100 per switch. This charge will be recovered by canceling appropriate number of units out of the Policyholder’s Fund Value.
     Bid/Offer Spread – Nil.[/QUOTE]

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