Question 1

Describe the LIC Market Plus policy.

Accepted Answer

A unit-linked deferred pension plan with the option of life insurance is called LIC Market Plus Choosing the level of coverage within the policy's parameters, which rely on the method of premium payment and the amount of premiums paid, is one of the plan's additional features.

Question 2

What is the LIC Market Plus surrender value?

Accepted Answer

The insured person has the option to cancel the policy after the third policy year has ended. The fund value on the date of surrender is what the policyholder receives as the surrender value.

Question 3

Is the amount of LIC maturity tax-free?

Accepted Answer

Taxes will not be due on any portion of the maturity benefit you get from a LIC life insurance policy. This also includes the overall bonus sum. In accordance with Section 10(10D) of the Income Tax Act of 1969, this LIC tax benefit is available.

Question 4

How you can save with the LIC Market Plus 1 Plan?

Accepted Answer

Tax benefits can be obtained by policyholders on their own premium payments. As a result, the highest deduction allowed by Section 80C of the Income Tax Act is Rs. 1.5 lakh.

Question 5

How do I purchase LIC stock?

Accepted Answer

Go to the IPO portion of your Depository Participant's (DP) online platform. On the LIC IPO tab, click. Decide on the category of Policyholder. Place your bid, fill out the form, and then select "Submit."

Browsing: lic market plus plan

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