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Market Plus 1 from LIC of India, Pension plan / Single Premium Insurance policy / ULIP

Summary:
Market Plus 1 is a unit linked pension scheme (ULIP). Policy holder can choose the plan with / without risk cover. Market Plus 1 is primarily a Pension policy and the plan has many attractive features and options that make it an ideal Retirement solution for your future.

Features:
1. Option to pay one time premium
2. Critical illness benefit minimum Rs 50,000 and the maximum Rs 10 lakh
3. Accident benefit from Rs 25,000 upto a maximum of Rs 50 lakh.
4. Switch from one type of fund to another upto four times a year.
5. Premium top up.
6. Policy can be taken with or without risk cover.
6. Net Asset Value (NAV) declared on a daily basis.

Fund Types:
1. Bond Fund
2. Secured Fund
3. Balanced Fund
4. Growth Fund

Update for Minimum Premium without life cover for Market Plus 1 :
Regular premium (other than monthly (ECS) mode):
Rs. 5,000 p.a. for deferment term 20 years and above
Rs. 10,000 p.a. for deferment term 15 to 19 years
Rs. 15,000 p.a. for deferment term 10 to 14 years

Regular premium (for monthly (ECS) mode):
Rs. 1,000 p.m. for deferment term 15 years and above
Rs. 1,500 p.m. for deferment term 10 to 14 years
Single premium: Rs. 30,000 for deferment term 5 years and above

Annualized Premiums shall be payable in multiple of Rs. 1,000 for other than ECS monthly. For monthly (ECS), the premium shall in multiples of Rs. 250/-.

For Basic Plan with Life Cover (Investment cum Insurance Plan)

a)Minimum Sum Assured : 30,000/-
b)Maximum Sum Assured : Nil
c)Minimum Premium : Rs.5,000 p.a. for Regular premium, in multiples of Rs. 1,000 Or Rs. 25,000 for Single premium.
d) Maximum Premium : No Limit
e) Minimum Entry Age : 18 years last birthday.
f) Maximum Entry Age : 65 years nearest birthday.
g) Minimum Deferment Term : 5 years.
h) Minimum Vesting Age : 40 years completed.
i) Maximum Vesting Age : 75 years nearest birthday.
j) Maximum Life Cover Ceasing Age : 75 years nearest age.

For more details :
http://www.liclifeinsuranceindia.com/lic-market-plus-1-table-191/

As on March 19th, 2010

The Current NAV of Market Plus is as follows:
BOND FUND: Rs.11.67
SECURED FUND: Rs.12.22
BALANCED FUND: Rs.12.34
GROWTH FUND: Rs.13.43