LICULIPWealth / investment-oriented ULIP
Index Plus
A unit-linked (market-linked) life insurance plan with two equity-oriented, NIFTY50-linked fund options, offering life cover alongside investment growth potential.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeSavings — Linked (ULIP)
CategoryWealth / investment-oriented ULIP
InsurerLIC
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureYes — fund-value linked
LiquidityNot available in the current product data
Lock-in5 years (statutory minimum for ULIPs)
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
A unit-linked (market-linked) life insurance plan with two equity-oriented, NIFTY50-linked fund options, offering life cover alongside investment growth potential.
You might need this if…
- You might need this if you want combined life cover and equity-market-linked investment growth in a single product.
- You might need this if you're comfortable with investment risk and want exposure to a NIFTY50-tracking fund or a broader equity fund.
- You might need this if you want periodic guaranteed additions layered onto your fund value at set milestones (years 6, 10, 15, 20, 25).
- You might need this if you can commit to at least a 5-year lock-in without needing the money.
How it actually works
- Entry age 90 days to 50 years (for 10x sum assured cover) or up to 60 years (for 7x cover); policy term 10-25 years.
- Minimum yearly premium ₹30,000 (other modes pro-rated); premium allocation charge starts at 8% (offline) or 3% (online) in year 1, reducing over time.
- Choose between the Flexi Growth Fund (40-100% equity) or Flexi Smart Growth Fund (40-100% NIFTY50-linked exposure), both classified "Very High Risk".
- Fund Management Charge 1.35% p.a.; mortality charge is age-based (e.g. ₹1.26 per ₹1,000 sum at risk at age 25); policy admin charge is nil for 5 years then a minimum monthly charge from year 6.
- Death benefit is the highest of Basic Sum Assured (less recent partial withdrawals), the fund value, or 105% of total premiums paid.
- Maturity benefit equals the fund value on the maturity date; Guaranteed Additions (3-30% of annual premium depending on premium size) are injected into the fund at years 6, 10, 15, 20 and 25.
Worked example
A 30-year-old paying ₹50,000 half-yearly for a 25-year term with ₹10 lakh Basic Sum Assured could see a projected maturity value of roughly ₹34.1 lakh at 4% assumed growth or ₹59.7 lakh at 8% assumed growth (illustrative, not guaranteed).
Worth knowing before you decide
- As a ULIP, the investment risk is borne entirely by the policyholder — returns are not guaranteed and can be negative.
- Strict 5-year lock-in: no liquidity or withdrawal at all in the first 5 years; surrendering during this period moves your money into a Discontinued Policy Fund.
- No policy loans are available, and the Basic Sum Assured cannot be increased or decreased after the policy is issued.