Life Insurance Corporation of India (LIC) has launched Nav Jeevan Shree and Nav Jeevan Shree Single Premium, two non-par, non-linked particular person plans combining each financial savings and safety options.
LIC’s Nav Jeevan Shree is to cater to all of the wants of people, particularly younger generation, who want to fulfill their desires, objectives, duties and in addition present safety. The different, single premium coverage is supposed for constructing corpus alongside with offering life insurance coverage. In the present surroundings when rates of interest are very unstable, the two Plans, which had been launched by CEO and MD (In-Charge) Sat Pal Bhanoo, present assured additions all through the coverage time period, the State-owned insurer stated.
Minimum age at entry must be 30 days (accomplished) and most, at entry, is 60 years for each plans. Nav Jeevan Shree (Plan 912) is a restricted premium endowment plan with assured additions as a per cent of tabular premium. Premiums will be paid by way of 6, 8, 10 & 12 years. Minimum coverage time period is 10-16 years and most coverage time period 20 years. Minimum primary sum assured will probably be ₹5 lakh.
Under the only premium Nav Jeevan Shree (Plan 911), assured additions will accrue on the price of ₹85 per thousand primary sum assured on the finish of every coverage 12 months from the inception until the top of coverage time period. Minimum coverage time period is 5 years and most 20 years and minimal primary sum assured ₹1 lakh.
