LIC Group LIC'S Superannuation Plus
LIC Group LIC's Superannuation Plus is a unit linked contribution plan defined for the management of superannuation funds. This plan differs from that of other traditional cash accumulation funds, because under this plan the returns are linked to the performance of the type of fund chosen.
LIC Group LIC's Superannuation Plus will be a better choice only for those companies having employees with the flexibility in the choice of investments.
The following things tell how this plan becomes the best to choose among other plans.
This plan is backed with more than 23 crores policy holders with an asset size of about Rs.740000 crores from a leading insurer of the country. There are four types of funds available for choosing in order to meet different kinds of risk appetites.
Under this LIC Group LIC's Superannuation Plus, with respect to the acceptable level of risk, there is a flexibility to build the fund. There is also a facility to switch between different kinds of funds and for each member four switches are allowed at free of cost each year.
Under this LIC Group LIC's Superannuation Plus scheme, there is no offer of bid and after the first contribution payment date, the policy can be surrendered at any time if required. The benefit on surrendering is subjected to the charges appropriately.
This is a better choice for the various reasons and it has many benefits along with the actual benefit or the maturity benefit of this policy and it is so clever to take up this policy.
For each fund, the net asset value would be calculated on daily basis. At any time of request by the member or at least one time per year, arrangements are made to the policy holder about the number and bid value of the units by the corporation.