Fortune Builder is the first Unit Linked Insurance Plan (ULIP) in the GCC region from LIC (International) – the gulf based subsidiary of LIC of India. ULIP – apart from giving the life insurance protection, provides an opportunity to the customers/policy holders to get benefits of higher return from Capital Market in long run. Under this plan – the major share of the premium collected, after deductions of the specified charges, is invested in Capital Market instruments across the globe on behalf of the policy holders. The return received is reflected in ever increasing value of the units (NAV).
Advantages of Fortune Builder
A product offering from LIC - which stands for Trust and Continuity
Opportunity to get the benefit of Capital Market both in India and other rising markets across the globe.
Life Insurance and Accident cover at competitive rates.
Lowest allocation and policy related charges in entire GCC
Wide flexibility in choosing risk coverage and mode of payment
Option to choose the type of fund to suit the individual's risk appetite.
Provision of partial withdrawal without any penalty.
Easy and flexible exit options.
Auto-cover facility in case of default of premium.
Specific Advantages to NRIs
No need of PAN card - irrespective of sum invested
No lock-in period / Capital Gain Tax
Benefit of currency appreciation.
No Income Tax - even for Single premium policies
Multiple maturity settlement options - to suit the specific need.