LIC launches two new ULIPs, opens two new offices in Puducherry

LIC has launched two new unit-linked plans, Nivesh Plus and SIIP, while opening two new offices in Puducherry. Chief Minister V. Narayanasamy has marked the opening of a city sales office for LIC credit cards and a BIMA Connect office on Chetty Street.

1. Kadiresan, LIC zonal manager explained the features of the two policies. According to him, the Nivesh Plus Plan is a single premium, non-participating, unit-linked, individual life insurance plan offering insurance cum investment during the term of the policy. It starts with a minimum 1lakh in single premium mode. The sum assured options are 1.25 times the Single Premium or 10 times the Single Premium.

The LIC SIIP is more a regular insurance/investment plan, with minimum premium of ¹ 40,000 (for yearly mode) with no maximum premium limit. The proposer can choose the amount of premium. Upon the completion of specified policy years, guaranteed additions as a percentage of annualised premium shall be added to the Unit Fund under an in-force policy. The basic sum assured, offered for ages below 55 years, is 10 times annualised premium and, for ages 55 years and above it is 7 times annualised premium.