LIC Nivesh Plus Plan 2023 Benefits, Features, Details, Reviews

LIC Nivesh Plus Plan – LIC has won the hearts of millions of Indians and has always been the most dependable life insurance company. LIC has always tried to make their customers’ lives easier and safer, so they keep coming out with new products for everyone’s benefit. The company introduced the Nivesh Plus Plan, a unit-linked individual life insurance policy, on March 2, 2020. Nivesh Plus LIC offers both insurance and investment benefits. This means that the company puts a portion of your premium into the capital market to make money. Policyholders can take advantage of a variety of perks and adaptable options through LIC Nivesh Plus at rates that are within their budget.

LIC Nivesh Plus Plan 2023 has been announced by the insurance company. The LIC Nivesh Plus Plan 2023 offers excellent cover for both personal and commercial vehicles. The comprehensive cover under the LIC Nivesh Plus Plan 2023 includes third-party liability, comprehensive insurance against theft and damage to the vehicle, and roadside assistance.

LIC Nivesh Plus Plan 2023

In today’s world, our financial requirements have skyrocketed in order to keep up with our ever-changing lifestyles. We need to carefully plan in order to meet our needs and reach our financial goals. An essential component of successful retirement planning is making an investment in a life insurance plan. As a result, having a plan for life insurance is now more of a necessity than a choice. The Bima Nivesh Insurance policy was developed by The Life Insurance Corporation of India in response to the rising requirements of insurance applicants.

A traditional endowment plan with a single premium is the LIC Bima Nivesh Insurance policy. Bima Nivesh is not a participating plan, so it doesn’t have any bonus features. LIC has announced the LIC Nivesh Plus plan 2023. The new insurance plan will provide accidental death cover of Rs 1 lakh to Rs 5 lakh for individuals, and Rs 2 crore to Rs 10 crore for families. This is good news for those who are looking for insurance cover in case of an unfortunate event.

LIC Nivesh Plus Plan

LIC Nivesh Plus Plan 2023 Overview

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Benefits of the LIC Nivesh Plus Plan 

LIC Nivesh Plus has been a boon for many people over the years. It has helped them save money on their health care expenses, and it has also given them access to a wide range of treatments and procedures. In this blog, we will discuss some of the benefits of the LIC Nivesh Plus plan in detail. We’ll also discuss how you can get started with this plan, and what you need to do in order to qualify. Thanks for reading!

Death Benefit offered under the LIC Nivesh Plus plan:

  • If the life insurance policyholder dies before the risk begins:

The enterprise will pay a sum equivalent to the Unit Asset Worth.

  • If the life assured passes away after the date of commencement of risk:

The company will look at both the sum assured value and the unit fund value and give the plan’s nominee the one that is higher. Death benefits are paid alongside the mortality charge, tax charge, and accident benefit charge.

Note: You can claim the death benefit in one lump sum or in installments. This can be decided by the policyholder at the time of purchase.

  1. Maturity Benefit

    The insured receives a maturity benefit equal to the Unit Fund Value if the policyholder lives to the end of the Nivesh Plus LIC’s maturity period.

Optional benefits offered by LIC Nivesh Plus Plan 

LIC Nivesh Plus is an optional health insurance plan that offers a variety of benefits to its subscribers. These benefits can include hospitalization, medical expenses, and even accidental death cover. If you’re looking for a health insurance plan that offers a variety of benefits, LIC Nivesh Plus may be the right option for you. To find out more about this plan and see the full list of benefits, please read on!

  1. Optional Rider benefits: The LIC’s Linked Accidental Death Benefit is an additional rider offered by the Jeevan Nivesh Plan LIC. This rider benefit may be chosen at any time after the plan’s start date or on the anniversary of the policy. The benefits under this additional rider option shall be accessible until the plan’s maturity or until the anniversary of the policy.The Accident Benefit Sum Assured will be paid in a lump sum along with the death benefit in the event of the insured person’s accidental death.
  2. Partial withdrawal facility:

    The Nivesh Plus Plan from LIC has a facility for partial withdrawals. However, the units cannot be revoked until the policy has been in force for at least five years. The withdrawals must be made in fixed amounts or specified unit amounts. A partial withdrawal facility for children is only accessible after the age of 18.

  3. Switching:The Jeevan Nivesh Plan LIC gives its policyholders the option to move between the four types of funds at any time during the policy’s term. These fund switching transactions are entirely tax-free.However, before doing so, policyholders must be fully informed of the switching fees
  4. Settlement option for death benefit:

    The Nivesh Plus LIC gives policyholders the option of receiving their death benefit as a lump payment or in monthly instalments. Later, in the event that the life assured dies, his nominee gets compensated in the same way.

Key features of the LIC Nivesh Plus Plan

If you’re looking to start a business or expand your current one, you’ll want to consider the LIC Nivesh Plus Plan. This comprehensive business insurance policy offers a range of benefits that can help you succeed. Here are just a few of the key features that make the LIC Nivesh Plus Plan a great choice for businesses of all sizes.

The Nivesh Plus Plan from LIC offers the following salient features:

Basic sum assured options:

At the time the policy is started, the policy offers the policy applicants a choice between two basic sum assured amounts.

Four investment funds to choose from:

The company will invest a portion of the insured person’s premium in unit funds, of which the client will have four options from which to select the best one. Bond funds, balanced funds, growth funds, and secured funds are some of these funds.

Switching facility:

Jeevan Nivesh Plan LIC permits a client to change his fund unit at any time during the duration of his insurance. However, there are some terms that go along with this functionality and should be properly read.

Death benefit:

If the life assured passes away during the policy term, the LIC Nivesh Plus Plan pays death benefits to the nominee. For the convenience of the nominee, the policy also provides settlement choices to receive death benefits in the form of payments.

Maturity benefit:

If the insured lives out the term of the LIC Nivesh Plus policy,

Guaranteed additions:

When a certain period of the policy is over, the guaranteed addition insurance pays out a proportion of single premiums as a reward. The guaranteed additions will be credited to the unit funds in accordance with the NAV and will depend on the type of fund selected.

Partial withdrawal facility:

After the policy has been in effect for five years, the life assured under the Jeevan Nivesh Plan LIC may partially withdraw his units.

Freelook period:

For those who purchased the policy offline, there is a 15-day free-look period, and for those who purchased Nivesh Plus LIC online, there is a 30-day free-look term. If the insured is dissatisfied with the terms of the plan during this time, he or she may return the insurance to the company.

Ease of purchase:

A LIC agent can be used to acquire the policy offline. But you can also easily purchase the LIC Nivesh Plus plan from the official website. Visit the official website before you decide so you can evaluate the many policies and pick the ideal one for your needs.

Riders available under LIC Nivesh Plus Plan

Under this plan, you can choose the Linked Accidental Death Benefit rider from LIC. If the life assured dies in an accident, an additional lump sum payment is made in addition to the death benefit.

Charges applicable under LIC Nivesh Plus Plan

Are you looking to switch your insurance provider? Do you have questions about the charges that are applicable under LIC Nivesh Plus Plan? Check out our blog for all the answers! We’ll explain everything you need to know about the plan and what charges will apply. We’ll also give you tips on how to save on your insurance premiums. So don’t wait – read on to learn everything you need to know about LIC Nivesh Plus Plan!

Plan by Jeevan Nivesh The fact that LIC is a ULIP plan explains why policyholders are required to pay a number of fees:

  1. Mortality charge:

    The LIC Nivesh Plus Plan requires policyholders to pay a mortality charge based on the amount at risk at the start of each policy month. The fee is age-specific, thus there is some flexibility in the amount.

  2. Accident Benefit charges:

    If the policyholder choose LIC’s Linked Accidental Death Benefit Rider in addition to the basic plan, he or she will be responsible for paying fees to cover the cost of accident benefits. At the start of each policy month, this fee will be collected by deducting the necessary units from the Unit Fund.

Other charges

  • Fund management charges:

    As the name implies, this fee is gathered by the company to administer your LIC Nivesh Plus Plan funds, which will be based on Net Asset Value.

  • Switching charge:

    If the policyholder wants to transfer his money to another one of the firm’s funds, the corporation must charge switching fees. The company allows a maximum of 4 switches every policy year, with a fee of INR 100 per changeover.

  • Partial withdraw charge:

    A fee of INR 100 will be applied at the time of a partial withdrawal.

  • Discontinuance charge:
    By cancelling the units available.

Eligibility criteria of LIC Nivesh Plus Plan

Entry Age 

Minimum: 90 days (completed)

Maximum: 70 years for Option 1 and 35years for Option 2

Maturity Age

Minimum: 18 years (completed)

Maximum: 85 years for Option 1 and 50 years for Option 2.

Sum Assured Options

1.25 times of the single premium

Policy tenure

10 years to 35 years

Premium Paying Mode


Premium amount

Minimum: INR 1 Lakh

Maximum: No Limit

Guaranteed additions under LIC Nivesh Plus Plan

The guaranteed additions feature of the LIC Nivesh Plus plan entails the addition of a set portion of your single premium to the Unit fund following the conclusion of particular policy years. The guaranteed addition will be converted and credited to your unit fund based on the NAV of the fund you have chosen. The details of the additions are listed in the table below:

Completion of the Policy year

Guaranteed additions offered 

6 years


10 years


15 years


20 years


25 years


Exclusions of LIC Nivesh Plus Plan

Suicide: The nominee or beneficiary will only receive the Unit Fund Value if the life guaranteed dies within the first year of the policy; alternative coverages will not be considered. In this case, the policy will automatically expire.

Investment fund options in LIC Nivesh Plus Plan

If you are looking for an investment fund that offers high returns with low risk, LIC Nivesh Plus Plan is the option for you. This fund is managed by LIC and offers investors a diversified mix of equity and debt investments. Plus, it allows you to invest in a range of industries, making it suitable for any business type. So if you’re looking for an investment that has the potential to give you high returns while providing low risk, LIC Nivesh Plus Plan may be the perfect option for you.

You have four fund choices to put your units in with the Jeevan Nivesh Plus plan from LIC. If you’re not happy, you can even move your

Fund Type

Objective of Investment 

Risk Factor

Bond Fund

investing in fixed income securities to give policyholders a secure investment choice.

Low risk

Secured Fund

investing in both stocks and fixed income securities to give policyholders consistent returns.

Low to moderate risk

Balanced Fund

investing equally in fixed income and equity products in order to give policyholders growth and balanced returns.

Moderate risk

Growth Fund

investing mostly in equities in order to give policyholders long-term capital growth.


Other details of the LIC Nivesh Plus Plan

There is a lot of talk about the LIC Nivesh Plus plan, but what are the other details? In this blog post, we will discuss various aspects of the LIC Nivesh Plus plan and help you understand it better.

  • Alterations in the Plan
    The Nivesh Plus Plan’s benefits cannot be changed by the policyholder. He can, however, choose to remove his rider if he so chooses; more riders cannot be added.
  • Top-up:
    The plan offers no top-ups.
  • Loan
    No loan facility is available under this plan.
  • Surrender
    The policyholders can surrender their policy anytime during the policy tenure.
  • Free-look Period
    For offline and online policies, the policy provides a freelook period of 15 days and 30 days, respectively.


The LIC Nivesh Plus Plan is a unit-linked insurance plan that provides both investing and insurance benefits under one umbrella. This newly introduced LIC insurance plan has a number of appealing characteristics for people of all ages that are single-Premium before benefits. If the life assured loses his life, Jeevan Nivesh Plan LIC offers death benefits, and it offers a maturity benefit if the life assured survives the plan.

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