Financial Daily from THE HINDU group of publications
Wednesday, Nov 03, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 03, 2004 |
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Money & Banking
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Life Insurance LIC launches policy for high income groups Our Correspondent
Madurai , Nov. 2 THE Life Insurance Corporation of India has introduced the `Jeevan Pramukh' policy targeting high-income groups. An endowment policy with a limited payment of premium for short term, it guarantees additions at the rate of Rs 50 per thousand sum assured at the end of each policy year for the first five years, apart from terminal bonuses and loan at 10.5 per cent interest, payable half-yearly. According to the Senior Divisional Manager here, Mr R.J. Rajaraman, the policy is ideal for non-resident Indians and cine artists as the minimum sum assured is Rs 10 lakh. Persons from 18 years to 65 years of age can subscribe to the policy, he said.
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