LIC's Gift Wealth Builder Plus

How it works

LIC's Gift Wealth Builder Plus is a lic & life insurance product from Life Insurance Corporation of India, in the market-linked category: no promised return. A US-dollar unit-linked plan sold from LIC's GIFT City branch — premiums buy units in one of four funds, with life cover.

Because the return type is market-linked, the questions that matter most are: What exactly does this hold, and what would make it fall? Can I leave this money invested if it drops 30%?

• Building a dollar-denominated corpus
• Wealth transfer for families with overseas links

Key facts

What can go wrong

• Currency risk on top of market risk — your returns are in dollars.
• The fund value can fall.
• Sold under IFSCA rules from GIFT City, which differ from a domestic policy.

Before you decide anything

• The four funds and their mandates
• The IFSCA rules that apply, and how the policy is taxed

These are questions to take to the provider, not a checklist that makes a product suitable. Whether something fits your situation is a decision only you — or an adviser you choose — can make.

Official sources

• LIC — plan details↗
• IRDAI — policyholder rights↗

These link to the regulator or provider where the rules for this type of product are set out. They are the pages worth checking before you act, because they are the ones that get updated.