LIC of India brings new plan

Hyderabad: Life Insurance Corporation of India (LIC) introduced a new plan LIC’s Jeevan Kiran, an individual, savings, life insurance plan, which offers life cover with return of premium. This plan is available for young people starting age of 18 and till the age of 65. It has a minimum sum assured of Rs 15 lakh for moderate life cover.

The policy term varies from 10 years to 40 years. The premium rates are different for non-smokers and smokers. The premium payment can be made by way of single premium or by way of regular premium which is payable for the policy term. For sum assured more than Rs 50 lakh, rebates are available on tabular premium.

The minimum installment premium will be Rs 3,000 for regular premium policies and Rs 30,000 for single premium policies. This plan is available for sale online as well as offline through agents, corporate agents, brokers, insurance marketing firms (IMF).