LIC of India launches Jeevan Vriddhi

Published: Friday, March 2, 2012, 16:18 [IST]

The Life Insurance Corporation of India(LIC) has launched a new plan ’Jeevan Vriddhi’, a single premium non linked insurance plan where the risk cover is five times of premium chosen by the customer and offers excellent guaranteed returns on maturity.

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. A major highlight of this plan is that it offers multiple benefits to the customer, these being:

Security – Five times of the single premium is being offered as the risk cover
Growth – There is attractive Guaranteed Maturity Sum Assured along with Loyalty additions, if
any ( based on Corporation’s experience).
Convenience – One time payment only.
Freedom – There is no upper limit on investment for eligible lives.
Liquidity – Policy Loan is available after just one year.

In the event of the unfortunate death of the life assured during the currency of the policy, the basic sum assured shall be payable which is five times the single premium excluding extra premium, if any. On maturity, the guaranteed maturity sum Assured (which will depend on the single premium payable and the age at entry of the life to be assured) along with loyalty addition, if any shall be payable. Eligibility for loyalty addition would be considered during the last year of the policy depending upon the Corporation’s experience and the rates and terms would be as declared by the Corporation.

GoodReturns.in

Story first published: Friday, March 2, 2012, 16:18 [IST]