LIC Nomura ULIS Mutual Fund 2013: At present, ULIS has Rs 140 crore AUM, he said, adding that in three years, it plans to have Rs 1,000 crore AUM for the scheme
Additional Features of LIC ULIS 2013 Mutual Fund
- The scheme’s additional features include free accident cover up to Rs 1 lakh, guaranteed maturity bonus of 2.5 per cent to 10 per cent of target amount, no exit load as well as auto cover option, besides low-cost life insurance.
- Fund allocation is balanced with 65 to 80 per cent invested in equity and 20 to 35 per cent in debt, he said.
- The fund, which has three-year lock-in period, allows partial withdrawal subject to minimum balance requirement and top-up facility.
- Investment in ULIS as well as its dividend is tax free.