LIC market plus is a Unit linked Insurance policy in which the policy holder chooses to invest the funds in one of the 4 possible funds.
The 4 funds available are Bond Fund, Secured fund, Balanced fund and Growth fund, from least risk to high risk in that order.
Note that If your yearly premium value lies between Rs.5000 and 75000, 16.50% of the first year premium will go towards the charges (read processing charges) and the rest will be allocated towards buying the units as per the current NAV. From the second year onwards, 2.5% of the premium will go towards charges and the rest towards purchasing units.
If it is a single premium policy, a one time charge of 3.3% will be deducted from the premium amount.
LIC market plus NAV status
As on 10 February 2010, the NAV of 4 funds are as follows:
Market plus (181)
Bond fund: 13.9097
Secured fund: 13.4792
Balanced fund: 13.1736
Growth fund: 13.6959
Market plus I (191) (Started on 1 Nov 2008)
Bond fund: 10.8063
Secured fund: 11.7135
Balanced fund: 11.8501
Growth fund: 12.6420
LIC of India regularly updates the NAV values at http://licindia.com/plan_navs.htm