Thursday, January 10, 2013

LIC unveils two new insurance policies

The largest insurer of the country, the Life Insurance Corporation (LIC) of India, on Tuesday announced the launch of two new insurance policies, Flexi Plus, a unit linked insurance product and New Jeevan Nidhi, a conventional product with profit pension plan.

In a statement, LIC said that Flexi Plus not only provides a lump sum benefit on death of the policyholder but also the maturity benefit irrespective of survival of the policyholder. Under the policy, the policyholder can choose the amount of premium he/she desires to pay, depending on which equivalent level of cover will be provided. The plan aims at steady income carrying lower to medium risk.

The other product, New Jeevan Nidhi provides death cover during deferment period and offers annuity on survival to the date of vesting.

( Source: )

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