Financial Daily from THE HINDU group of publications
Tuesday, Sep 02, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 02, 2003 |
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Money & Banking
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Life Insurance LIC relaunches New Jeevan Shree Our Bureau
LIFE Insurance Corporation of India on Monday re-launched the Jeevan Shree-I scheme on its 47th anniversary. The assured returns scheme, which had been pulled out of the market earlier on account of the guaranteed additions becoming unsustainable, has been re-introduced with some modifications. The new plan is now available for a minimum sum assured of Rs 5 lakh with guaranteed addition of Rs 50 per thousand sum assured per annum for first five years and reversionary bonuses thereafter. The policy addresses the needs of high net worth individuals such as executives, industrialists, NRIs, film stars, professionals, agriculturists, etc., and offers risk cover equal to sum assured, according to Mr S.B. Mathur, Chairman, LIC. The plan is also eligible for accident benefit, term insurance rider, etc. Mr Mathur also released a revised Citizen's Charter which embodies the corporation's commitment to policyholders.
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