Life Insurance Corporation of India (LIC) launched a powerful unit-linked insurance product named LIC Nivesh Plus Plan (Table No. 749). Introduced on 14th October 2024, this plan offers a perfect combination of insurance protection and investment opportunity under a single policy.
This is a Single Premium, Non-Participating, Unit-Linked, Individual Life Insurance Plan, which means you pay only once, and your money is invested in market-linked funds for long-term wealth creation while also providing life cover.
Let’s understand this plan in detail — from eligibility, benefits, charges, investment options, to a detailed example.
What is LIC Nivesh Plus Plan 749?
LIC Nivesh Plus is a ULIP (Unit Linked Insurance Plan), designed for individuals who want:
- Market-linked returns,
- Protection against life uncertainties, and
- A single premium option without worrying about future payments.
You can choose your level of risk and returns by selecting among four different fund types. In addition, you get guaranteed additions, partial withdrawals, and tax benefits.
Key Highlights of LIC Nivesh Plus (Table No. 749)
| Feature | Details |
|---|---|
| Plan Type | Unit Linked, Non-participating, Single Premium Life Insurance |
| Launch Date | 14th October 2024 |
| Premium Payment | Single Premium only |
| Investment Funds | Bond, Secured, Balanced, Growth |
| Sum Assured Options | 1.25 times or 10 times of Single Premium |
| Policy Term | 10 to 25 years depending on age and option |
| Minimum Premium | ₹1,25,000 |
| Maximum Premium | No Limit (in multiples of ₹5,000) |
| Minimum Entry Age | 90 Days |
| Maximum Entry Age | Option 1 – 70 Years, Option 2 – 35 Years |
| Maximum Maturity Age | Option 1 – 85 Years, Option 2 – 50 Years |
Options for Sum Assured
You can choose between:
- Option 1: 1.25 times of the Single Premium
- Option 2: 10 times of the Single Premium
Note: Once selected, the option cannot be changed.
Investment Fund Types
You can invest your premium in one of these four fund options based on your risk appetite:
| Fund Type | Equity (%) | Debt (%) | Risk Profile |
|---|---|---|---|
| Bond Fund | 0% | 60–100% | Low Risk |
| Secured Fund | 15–55% | 45–85% | Low to Medium |
| Balanced Fund | 30–70% | 30–70% | Medium Risk |
| Growth Fund | 40–80% | 20–60% | High Risk |
Benefits of LIC Nivesh Plus 749
1. Death Benefit
- Before Risk Commencement: Only Unit Fund Value is payable.
- After Risk Commencement: Higher of:
- Basic Sum Assured (after adjusting for partial withdrawals in last 2 years),
- Unit Fund Value.
2. Maturity Benefit
- On survival to the end of the policy term, you receive the entire Unit Fund Value.
3. Guaranteed Additions
| Policy Year | Guaranteed Addition (% of Single Premium) |
|---|---|
| 6th | 3% |
| 10th | 4% |
| 15th | 5% |
| 20th | 6% |
| 25th | 7% |
These additions enhance your fund value at key milestones.
Partial Withdrawals
After 5 policy years, you can partially withdraw from your fund:
| Policy Year | Max Withdrawal (% of Fund Value) |
|---|---|
| 6th to 10th | 15% |
| 11th to 15th | 20% |
| 16th to 20th | 25% |
| 21st to 25th | 30% |
For minors, withdrawals allowed only after life assured turns 18.
Charges under LIC Nivesh Plus 749
| Charge Type | Amount |
|---|---|
| Premium Allocation | 3.30% (Offline), 1.50% (Online) |
| Fund Management | 1.35% p.a. of Unit Fund |
| Switching Charge | 4 Free per year, ₹100 thereafter |
| Discontinuance Charge | Varies by policy year and premium amount |
| Mortality Charges | Based on age and cover selected |
LIC Nivesh Plus 749 with Example
Let’s understand with an illustrative example:
Policy Details
- Name: Mr. Raj
- Age: 34 Years
- Premium Paid: ₹2,00,000 (Single Premium)
- Sum Assured: ₹2,50,000 (Option 1: 1.25x)
- Fund Type: Growth Fund
- NAV at Start: ₹10
- Policy Term: 20 Years
Over the years, the NAV grows and guaranteed additions are added.
Illustration Table
| Age | Premium Paid | Guaranteed Additions | NAV (₹) | Fund Value (₹) | Death Benefit |
|---|---|---|---|---|---|
| 34 | 2,00,000 | 0 | 10.00 | 2,50,000 | 2,50,000 |
| 35 | 0 | 0 | 11.00 | 2,75,000 | 2,75,000 |
| 36 | 0 | 0 | 12.10 | 3,02,500 | 3,02,500 |
| 37 | 0 | 0 | 13.31 | 3,32,750 | 3,32,750 |
| 38 | 0 | 0 | 14.64 | 3,66,350 | 3,66,350 |
| 39 | 0 | 6,000 | 16.10 | 4,13,500 | 4,13,500 |
| 43 | 0 | 8,000 | 23.57 | 5,89,250 | 5,89,250 |
| 48 | 0 | 10,000 | 37.96 | 7,57,069 | 7,57,069 |
| 53 | 0 | 12,000 | 61.14 | 12,34,008 | 12,34,008 |
| Maturity | — | — | — | 13,69,329 | 13,69,329 |
Note: Values are illustrative and may vary based on fund performance.
Other Policy Features
Tax Benefits
- Premiums paid are eligible under Section 80C.
- Maturity/Death benefit is tax-free under Section 10(10D), subject to conditions.
Switching Facility
- 4 Free switches in a year; ₹100 thereafter.
Surrender Value
| When Surrendered | What You Get |
|---|---|
| Before 5 Years | Fund Value after deducting Discontinuance Charge – moved to Discontinued Fund |
| After 5 Years | Full Unit Fund Value without any charge |
Suicide Clause
If the Life Assured commits suicide within 12 months, only Unit Fund Value is paid. No other claims entertained.
Loans & Top-Ups
- No loans available under this plan.
- Top-up premiums are not allowed.
Conclusion: Is LIC Nivesh Plus Plan 749 Right for You?
LIC Nivesh Plus is a smart option for those who:
- Want a one-time investment in insurance plus market-linked returns
- Are looking for flexible investment options based on risk appetite
- Seek long-term wealth accumulation with life cover
- Prefer guaranteed additions with fund growth
However, as this is a market-linked plan, returns are not guaranteed (except guaranteed additions). It suits individuals with moderate to high-risk tolerance.
FAQs on LIC Nivesh Plus 749
1. Can I pay premium in installments?
No, LIC Nivesh Plus is a single premium plan only.
2. Is the maturity benefit guaranteed?
Only the fund value is payable and depends on market performance, except guaranteed additions.
3. When can I withdraw money?
After 5 policy years, partial withdrawals are allowed, subject to age and fund value conditions.
4. Can I switch fund types?
Yes, 4 switches free per year are allowed between fund types.
