New Delhi, Sept. 1 -- Life Insurance Corporation (LIC) on Tuesday launched two new products, Bima Platinum & Jeevan Raksha, on the occasion of its 70th anniversary. LIC CEO & MD R Doraiswamy launched the products.
Bima Platinum is a Non-Par, Non-Linked Individual Plan offering savings and protection. It is a limited premium plan with guaranteed additions of Rs 70 per Rs 1,000 of annual premium paid during the premium-paying term. It also provides a regular income benefit equal to 10 per cent of the basic sum assured at the end of each year during the payout period.
Existing LIC policyholders & nominees/beneficiaries of deceased policyholders are eligible for rebates, while riders can enhance coverage.
Jeevan Raksha is a Non-Par, Non-Linked Pure Risk Plan providing financial protection to the insured's family in case of death during the policy term. Death benefits are guaranteed and fixed, with no bonuses or share in surplus. The minimum basic sum assured is Rs 5 lakh and maximum is Rs 24 lakh, subject to
the board-approved underwriting policy. The plan offers single premium, regular premium & limited premium payment options, with special rates for women.
Published by HT Digital Content Services with permission from Millennium Post.