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| LIC launches Jeevan Nischay | | |
Early Times Report
Jammu, Feb 4: On the lines of LIC’s guranteed return plan Jeevan Aastha which garnered Rs. 10,000cr premium last year, has launched another guaranteed return plan ‘Jeevan Nishchay’ exclusively for existing policy holders for a limited period.
As per press release it is a single premium plan available to any policy holder between age group 18 to 50 years who has at least one risk bearing policy. The plan is available for terms of 5, 7 and 10 years. The minimum premium is Rs. 10,000 and maximum Rs 10 Lacs. The plan provides for risk cover equivalent to 5 times of premium in the Ist year and thereafter risk cover equivalent to maturity value. Other attractive features of the plan are easy liquidity in the form of loan and surrender after first year, besides loyalty addition if any the plan comes with tax benefit as per provisions for income tax act, 1961 and closes on 31st march 2010. For a person aged 30 years who pays premium of Rs. 1 lac, he get maturity amount of Rs 186077 plus loyalty addition (if any).
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