🛡️💰 LIC Protection Plus is a modern savings and insurance solution designed for individuals who want both life protection and market-linked growth. Introduced to meet long-term financial goals, this plan balances security with investment flexibility. What Makes This Plan Different ⭐ One of the most attractive aspects of this plan is the refund of mortality charges at maturity. This means that if the policy remains active till the end, the charges deducted for life cover are returned, increasing the final maturity value. Basic Plan Structure 🧾 Category: Individual savings-cum-insurance plan Nature: Non-participating, unit-linked Launch: December 3, 2024 Purpose: Wealth creation along with family financial protection Eligibility & Age Limits 👤📅 Entry Age: Minimum: 18 years Maximum: Around 65 years Maturity Age: Minimum: 75 years Maximum: Up to 90 years (based on chosen term) This wide age range allows long-term planning even at later stages of life. Policy & Premium Options ⏳💳 Policy Term Choices: 10, 15, 20, or 25 years Premium Paying Options: Limited pay: 5, 7, 10, or 15 years Regular pay throughout the policy duration Flexible payment options help align premiums with income planning. Investment Choices 📈🎯 Policyholders can select from six different investment funds based on risk preference: Bond-based funds (low risk) Balanced funds (moderate risk) Growth-oriented funds (high risk) Flexi Smart Growth options This allows customization according to market outlook and financial goals. Sum Assured Guidelines 🔐 Below 50 years: Minimum 7× annualized premium 50 years and above: Minimum 5× annualized premium Ensures adequate life cover along with investment growth. Liquidity & Additional Investment 💧➕ Partial withdrawals: Allowed after a 5-year lock-in period Top-up facility: Extra contributions can be made to increase fund value and life cover These features add flexibility during financial emergencies or surplus income periods. Benefits at a Glance 🎁 Maturity Benefit: Total unit fund value Plus refund of all mortality charges deducted Death Benefit: Highest of: Basic Sum Assured (after adjusting withdrawals) Base Premium Fund Value 105% of total premiums paid Optional Protection Add-on 🚑 Accident Benefit Rider available for enhanced coverage in case of accidental death Who This Plan Is Suitable For ✅ Long-term investors seeking market-linked returns Individuals wanting life cover with savings Those looking for flexibility in premiums and investments