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| LIC launches its new product 'jeevan vaibhav' | | | EARLY TIMES REPORT
Jammu, May 21: Life Insurance Corporation of India (LIC) today launched a new plan' Jeevan Vaibhav' a unique insurance product -at single premium non linked insurance plan where the risk cover is the sum assured which is almost double the premium chosen by the customer and offers guaranteed returns at maturity.
According to LIC official spokesperson, the plan, which is an ideal combination of insurance and returns, would be available for a limited period only up to a maximum of 120 days.
"Major highlight of this plan is that it offers multiple benefits to the customer like Security, growth, convenience, freedom and liquidity, the official statement said, adding further, "in event of the unfortunate death of the Life assured during the currency of the policy, the basic sum assured shall be payable.
Sr. Divisional Manager D C Thakur on this occasion informed that the Minimum Age at entry for the plan is 8 years (completed) while the maximum is 65 years (nearer birthday).
"The term under the policy is fixed at 10 years.
The minimum Sum Assured is Rs. 2.00 Lakhs while there is 110 upper limit and the minimum premium under the policy offer high limit," he said, adding,
"This is an ideal plan for all groups of people, i.e youngsters and parents. The policy offers high liquidity through policy loan after just one year." |
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