LIC brings new plan for children, youth

Life Insurance Corporation of India (LIC) has announced the launch of a new plan – LIC’s Amritbaal. The new product was formally unveiled by Dr Vivek Joshi, Secretary, Department of Financial Services (DFS), Ministry of Finance, Government of India, on Friday. The non-linked and non-participating plan will be available for sale from Saturday onwards.

LIC’s Amritbaal is an individual, savings, life insurance plan, which is specifically designed to have an adequate corpus to meet the higher education and other needs of the child. It facilitates

accumulation of corpus through guaranteed additions at the rate of Rs 80 per thousand basic sum assured at the end of each policy year from the inception till the end of policy term provided policy is in force.