LIC Money Plus is a unit linked Endowment plan in which one need to pay regular premium. This is a policy in which one can have insurance as well as investment during a term of policy. The policy holder can also choose the level of cover and that hugely depends on the amount of premium in which one agrees to pay.
In LIC money Plus, one need to choose from four types of investment fund and these are also subject to various changes. The value of units can either increase or decrease and that depends solely on the Net Asset Value (NAV).
One needs to pay premium for this insurance plan. There are also plenty of options for the payment of premiums. People can opt for, monthly, quarterly, half-yearly or yearly. The minimum yearly premium for this LIC Money Plus is Rs. 5, 000/- and the amount of this premium goes up by adding Rs. 1000/- every year. The minimum monthly premium for LIC Money Plus is Rs. 1000/- increasing thereafter in multiples of Rs. 250/-.
So this is the Money Plus policy from Life Insurance Corporation if India (LIC). More information regarding this scheme can be obtained from an LIC agent or from a nearby LIC office. It is also available on the official website of Life Insurance Corporation if India in Full Detail and one can also apply for this online as well.
There are four types of Money plus Plan namely Bond fund, Secured fund, Growth fund and balanced Fund. People can choose any one of the above mention plan to secure their future.