LIC Nivesh Plus Plan 749 is a single premium, unit-linked insurance plan that combines life coverage with market-linked investment opportunities, allowing policyholders to grow wealth while securing their family’s future. Introduced on October 14, 2024, this plan is ideal for individuals seeking a one-time investment with long-term financial benefits and insurance protection.

What is LIC Nivesh Plus Plan 749?

LIC Nivesh Plus Plan 749 is a non-participating, unit-linked, individual life insurance policy that requires a single premium payment at the beginning of the policy term. This means you pay once and enjoy life coverage and investment growth for the entire policy duration, which ranges from 10 to 25 years depending on your age and chosen sum assured option. The plan is designed to offer dual benefits: life insurance protection and market-linked returns, making it suitable for both conservative and growth-oriented investors.

The policy allows you to choose from four investment funds—Bond, Secured, Balanced, and Growth—based on your risk appetite. Your premium is invested in the selected fund, and the returns depend on the fund’s performance in the market. Additionally, the plan offers guaranteed additions at specific policy milestones, enhancing your fund value over time.

Key Features of LIC Nivesh Plus Plan 749

Single Premium Payment

One of the most attractive features of this plan is the single premium payment option. You pay the entire premium once, eliminating the need for future payments and ensuring uninterrupted coverage. This makes it ideal for individuals with surplus funds who want to secure long-term financial goals without the burden of recurring premiums.

Investment Fund Options

Policyholders can choose from four fund types based on their risk tolerance:

• Bond Fund: Low-risk, primarily debt-oriented investments for steady returns.
• Secured Fund: Balanced mix of equity and debt, offering moderate growth with lower volatility.
• Balanced Fund: Equal exposure to equity and debt, suitable for medium-risk investors.
• Growth Fund: High equity exposure for aggressive long-term wealth creation.

You can switch between funds up to four times a year for free, allowing flexibility to adjust your investment strategy based on market conditions.

Guaranteed Additions

The plan offers guaranteed additions to your fund value at specific policy years:

• 3% of the single premium at the end of the 6th year
• 4% at the end of the 10th year
• 5% at the end of the 15th year
• 6% at the end of the 20th year
• 7% at the end of the 25th year

These additions are credited to your policy and enhance the overall maturity value, providing an extra boost to your investment.

Partial Withdrawals

After completing 5 policy years, you can make partial withdrawals from your fund value:

• 15% of fund value (6th to 10th year)
• 20% (11th to 15th year)
• 25% (16th to 20th year)
• 30% (21st to 25th year)

This feature provides liquidity during financial emergencies without surrendering the policy.

Eligibility Criteria

To enroll in LIC Nivesh Plus Plan 749, you must meet the following criteria:

• Minimum Entry Age: 90 days (completed)
• Maximum Entry Age: 70 years for Option 1, 35 years for Option 2
• Maximum Maturity Age: 85 years for Option 1, 50 years for Option 2
• Minimum Single Premium: ₹1,25,000
• Maximum Premium: No limit (in multiples of ₹5,000)

The policy term varies based on age and sum assured option, ranging from 10 to 25 years.

Sum Assured Options

You can choose between two sum assured options:

• Option 1: 1.25 times the single premium (suitable for higher life cover)
• Option 2: 10 times the single premium (ideal for long-term wealth creation)

Once selected, the option cannot be changed during the policy term.

Benefits of LIC Nivesh Plus Plan 749

Death Benefit

If the policyholder passes away during the policy term, the nominee receives the higher of:

• Basic Sum Assured (reduced by partial withdrawals in the last two years)
• Unit Fund Value

This ensures financial security for the family, combining life cover with investment value.

Maturity Benefit

On surviving the policy term, the policyholder receives the entire Unit Fund Value, which includes:

• Market-linked investment returns
• Guaranteed additions
• Any accrued bonuses

The maturity amount is tax-free under Section 10(10D) of the Income Tax Act, subject to conditions.

Tax Benefits

• Premiums paid are eligible for tax deduction under Section 80C, up to ₹1.5 lakh per year.
• Maturity and death benefits are tax-exempt under Section 10(10D), provided the premium does not exceed 10% of the sum assured (for policies issued after April 1, 2012).

Charges and Expenses

Premium Allocation Charge

• 3.30% for offline purchases
• 1.50% for online purchases

This charge is deducted from the premium before allocating units in the chosen fund.

Fund Management Charge

A 1.35% annual charge is levied on the unit fund value for managing the investment portfolio. This is one of the lowest in the industry, ensuring higher net returns.

Switching and Withdrawal Charges

• 4 free switches per year; ₹100 for each additional switch
• No charges for partial withdrawals after 5 years

How to Calculate Maturity Value?

The maturity value depends on:

• Single premium amount
• Fund performance (NAV growth)
• Guaranteed additions
• Charges deducted

While exact returns are not guaranteed due to market linkage, you can use the LIC Nivesh Plus Return Calculator available on LIC’s official website or third-party platforms like Policybazaar to estimate potential maturity amounts. The calculator considers:

• Premium amount
• Policy term
• Expected rate of return
• Fund type

For example, a ₹2 lakh investment in the Growth Fund over 20 years with an 8% annual return could yield approximately ₹9.35 lakh, including guaranteed additions.

Why Choose LIC Nivesh Plus Plan 749?

Dual Benefits

The plan offers life insurance and investment growth in a single product, eliminating the need for separate policies.

Market-Linked Returns

Unlike traditional plans with fixed returns, this ULIP offers the potential for higher returns through equity market exposure.

Flexibility and Control

You have full control over your investment strategy, with the ability to switch funds and make partial withdrawals.

Long-Term Wealth Creation

With a maximum term of 25 years and guaranteed additions, the plan is ideal for long-term financial goals like children’s education or retirement planning.

Frequently Asked Questions (FAQs)

Conclusion

LIC Nivesh Plus Plan 749 is a smart financial choice for individuals seeking a one-time investment with long-term wealth creation and life cover. With flexible fund options, guaranteed additions, tax benefits, and partial withdrawal facilities, it offers a balanced approach to financial security and growth. While returns are market-linked and not guaranteed, the plan’s low charges and LIC’s strong reputation make it a reliable option for disciplined investors. Always consult a financial advisor before investing to ensure it aligns with your financial goals.