LIC Nivesh Plus (Plan No. 849, UIN 512L317V01) is a non‑participating, unit‑linked single‑premium life insurance plan that combines one‑time investment with market‑linked growth and life cover.

Plan type and structure

• Single‑premium ULIP: You pay only once at inception; the amount is invested in ULIP funds, and policy value = unit fund value.
• Non‑par, linked: No bonuses; returns depend on fund NAV minus charges, plus guaranteed additions.
• Life cover + savings: Provides death benefit during the term and fund value at maturity, with optional Linked Accident Benefit Rider.

Key features

• Two Sum Assured options at inception:
  • Option 1: Sum Assured = 1.25 × Single Premium (higher return potential, lower cover; maturity generally taxable).
  • Option 2: Sum Assured = 10 × Single Premium (higher cover, lower net return; maturity typically 10(10D)‑exempt if conditions met).
• Four fund options: Bond, Secured, Balanced, Growth; you choose allocation and can switch between funds (limited free switches per year).
• Guaranteed Additions: Credited as a percentage of single premium at specified policy years and converted into units.
• Partial withdrawals: Allowed after 5 policy years, subject to minimum withdrawal and minimum fund balance rules.
• Settlement option: Death or maturity proceeds can be taken as instalments over a chosen period instead of lump sum.​

Eligibility and main parameters

From recent grids (use latest LIC brochure/CIS for compliance):

• Plan No.: 849; UIN: 512L317V01.
• Entry age:
  • Minimum: 90 days (completed).
  • Maximum: Option 1 – 70 years; Option 2 – 35 years.
• Policy term: 10 to 25 years.
• Premium: Single premium only.
  • Minimum: ₹1,00,000.
  • Maximum: No upper limit, subject to underwriting.
• Basic Sum Assured:
  • Option 1: 1.25 × Single Premium.
  • Option 2: 10 × Single Premium.

Benefits

Maturity benefit

If the life assured survives to the end of the term:

• Maturity benefit = Unit Fund Value on maturity date.
• Fund Value already includes all allocated units plus Guaranteed Additions that were converted into units earlier.

Death benefit

If death occurs during the policy term while in force, nominee receives (Type I ULIP structure):

• Death Benefit = higher of:
  • Sum Assured, or
  • Unit Fund Value,

subject to a minimum of 105% of Single Premium paid (excluding GST/extra/rider premiums), as per LIC documentation.

Settlement option allows this death benefit to be taken in instalments instead of lump sum.​

Guaranteed additions

Guaranteed Additions as a percentage of single premium are added at pre‑defined durations and converted into units; the exact schedule (e.g., at end of policy years 6, 10, 15, 20) and percentages depends on term and fund type and is specified in the sales brochure.

Charges

Typical ULIP charges apply:

• Premium allocation charge (higher in initial years for offline; lower online).
• Fund management charge per fund (capped as per ULIP norms).
• Policy administration and mortality charges (for life cover) deducted via unit cancellation.
• Discontinuance/surrender charges as per charge table in brochure.

Who is LIC Nivesh Plus suitable for?

• Investors with a lump sum who want one‑time premium ULIP with life cover and market‑linked growth, instead of regular‑pay ULIPs.
• Tax‑sensitive clients choosing between Option 1 (better IRR, but maturity usually taxable) vs Option 2 (higher cover, maturity likely tax‑free if conditions met).
• Clients comfortable with equity/debt NAV volatility and a 10–25 year horizon, wanting flexibility in fund choice and partial withdrawals after 5 years.

Example: A 35‑year‑old invests ₹3 lakh once under Option 2 (10× cover) for 20 years; premium is split between Balanced and Growth funds, guaranteed additions are added at specified years, on survival he receives fund value at maturity, while during the term his family is protected for at least 10× premium or the fund value, whichever is higher.