• LIC NAV Basic Benefit to Their Policyholders

NAV is the Net Asset value is the rates of an individual’s assets reduce the value of the liabilities. This policy of LIC NAV is accessible for entire ULIP as (Unit Linked Policies). The NAV has the link to entire policies such as Samridhi plus, health plus, pension plus, wealth plus, flexi plus, LIC child wealth plus, health protection plus and some others. The LIC NAV history provides all ulip policies are also accessible. The value of LIC NAV shows the separate for entire schemes. They provide the latest LIC NAV for all policies. You can make sure the LIC NAV rate, the value of LIC NAV using the contemporary LIC NAV of the day accessible in the official LIC site.

Eligibility for LIC NAV plan:-

The LIC NAV eligibility is based on their terms and conditions. The fundamental eligibility is the customer begins at the minimum age is 8 and their maximum age is 65 years. The policy tenure is 10 years of maximum. Also, the minimum payment is 5 years of payment paying the policies. There includes single premium, quarterly, half-yearly, yearly premium. The single premium of minimum amount is 30, 000 and monthly through ECS is 1, 500. The quarter premium is 4, 000. The half-yearly premium is 8, 000. And yearly premium is 15, 000. The five years payment for paying tenure in a single premium is 1, 00, 000 per annum and no limit. All the eligibility criteria are also provided by the official LIC NAV site.

Procedure of estimation of unit price:-

The units will allocate depend on the NAV fund and in the date of allotment. There’s no any bid-offer spread. The LIC NAV will  calculate on a regular basis and depend on the guarantee charge, investment performance, fund management rate and whether the finance is bonding or expanding under every fund type calculated such as appropriation cost is applied (when finance is expanding), expropriation cost is applied (when finance is bonding), and applicability of NAV.

The LIC provides many achievable benefits to every customer. The benefits are also separate for all type of plans providing by the Life Insurance Corporation of India. The main benefits of NAV are death benefit and also maturity benefit. The death benefit in NAV is higher sum insure and the policyholder’s finance value will be also accessible as a death benefit. However the maturity benefit is the individual surviving at the end of the plan chose, the cost equal to the customer’s finance value is payable.

Categories: Insurance