Life Insurance Corporation of India (LICI) launched a new non unit-linked single premium product ‘Jeevan Vaibhav’. The minimum premium amount for the plan is approximately Rs 95,000.
The product is based on traditional platform where sum assured is almost double the premium chosen by the policyholder. This plan offers guaranteed returns at maturity which makes this an ideal combination of insurance and savings. The plan would be available for a limited period up to maximum of 120 days.
Some key features of the plan are:-
In a statement, the state owned India’s largest insurer said, “This is an ideal plan for all groups of people, be it youngsters who want to save a nest-egg for following their passion after putting in some years of hard work and gaining experience, or parents who want to save money for funding their young child’s, grand children’s higher education or for financing other needs of self or children who have grown up.”
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http://www.insuringindia.com/News/LIC-launches-single-premium-plan.aspx
