LIC introduces new plan

MUMBAI: Life Insurance Corporation of India introduced a new plan, LIC’s Jeevan Kiran (Plan No. 870) with effect from Thursday. LIC’s Jeevan Kiran is an Individual, Savings, Life Insurance plan. The Unique Identifi-cation Number (UIN) for LIC’s Jeevan Kiran is 512N353V01. This plan offers Life Cover with return of premium. Excellent product for prospects desiring high Life Cover at reasonable cost. The 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 lakhs for moderate Life Cover. The policy term varies from 10 years to 40 years. The premium rates are different for Non-Smokers and Smokers. 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 lakhs, rebates are available on Tabular Premium.

The minimum instalment premium will be Rs.3000/- for Regular Premium policies and Rs.Rs.30000/- for Single Premium policies, stated a press release.

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