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Our Bureau

Mumbai , Oct 18

LIC has launched a unit-linked whole life plan called Jeevan Plus, which will replace the closed Bima Plus plan. This long-term plan is believed to have more flexibility than Bima Plus, which was launched four years ago.

"With private players offering plans with greater flexibility, we needed to come out with a more competitive product," said Mr S.B. Mainak, Chief of Investment, LIC.

The premium of Jeevan Plus will be applied to purchase units as per the fund type chosen. The minimum annual premium will be Rs 5,000, increasing in multiples of Rs 1,000. The minimum amount in terms of single premium is Rs 25,000 and in multiples of Rs 1,000 thereafter.

LIC's two earlier unit-linked insurance plans — Bima Plus and Future Plus — have since inception raked in a total premium of Rs 3,110 crore and Rs 4,516 crore respectively.

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