Early Times Report
Jammu, Mar 5: Life Insurance Corporation (LIC) today launched a new insurance product titled as 'Jeevan Sangam' with an aim to cover to clientele who want to pay lump sum Premium with attractive returns and at the same time have good risk coverage.
While launching the new product, T T Kabui Zonal Manager LIC of India North Zone said that this is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is a multiple of single premium. "The plan will be open for sale for a maximum period of 90 days from the date of launch, he said.
Giving details of the product, he said, "This Single Premium plan is available from Ages 6 years to 50 years with certain conditions. For those aged 8 years or more, risk will commence immediately."
"The Minimum Maturity Sum Assured is Rs. 75,000/- and higher maturity Sum Assured shall be in multiples of Rs. 10000/- with no Maximum Sum Assured limit. Loyalty Bonus will be payable as per rules. The sum at risk during the term under the plan is 10 times of the basic premium," he added |
