LIC Nivesh Plus Plan 849 (Plan 749) Details

LIC Nivesh Plus Plan 849 (Earlier Plan 749)

Plan Overview

LIC Nivesh Plus is a non-linked, non-participating individual savings plan that offers guaranteed benefits with flexibility in premium payment terms.

Key Features

Feature	Details
Plan Type	Savings plan with guaranteed returns
Policy Term	10 to 25 years (as chosen by policyholder)
Premium Payment Term	Single pay or Regular pay (5, 7, or 10 years)
Minimum Age at Entry	90 days (completed)
Maximum Age at Entry	60 years (for 10-year term) to 50 years (for 25-year term)
Minimum Sum Assured	₹1,00,000 (varies by premium payment term)
Maximum Sum Assured	No limit (subject to underwriting)

Benefits

Death Benefit

Higher of:

• 10 times annualized premium (for regular pay)
• 1.25 times single premium (for single pay)
• 105% of all premiums paid

Maturity Benefit

Guaranteed maturity amount = Sum Assured + Guaranteed Additions

Guaranteed Additions accrue at the following rates:

Policy Term	Guaranteed Addition Rate (per ₹1,000 SA)
10 years	₹60
15 years	₹75
20 years	₹90
25 years	₹105

Example Illustration

Parameter	Example
Policyholder Age	35 years
Sum Assured	₹5,00,000
Policy Term	15 years
Premium Payment Term	10 years
Annual Premium	₹48,500 (approx)
Total Premium Paid	₹4,85,000
Guaranteed Additions	₹75 per ₹1,000 SA = ₹37,500 per year × 15 years = ₹5,62,500
Maturity Benefit	₹5,00,000 (SA) + ₹5,62,500 (GA) = ₹10,62,500

Additional Features

• Loan Facility: Available after 3 policy years
• Surrender Value: Available after 2 full years' premiums
• Tax Benefits: Premiums eligible under Section 80C, benefits under Section 10(10D)

Eligibility Conditions

Condition	Requirement
Minimum Entry Age	90 days
Maximum Entry Age	60 years (varies by term)
Minimum Sum Assured	₹1,00,000 (₹2,00,000 for 5-year PPT)
Maximum Maturity Age	75 years

Note: This plan is now marketed as Plan 849 (earlier Plan 749). Features remain largely similar with minor modifications.