Life Insurance Corporation (LIC) is a trusted name in India, known for offering various plans to help people. Now, LIC is introducing a major plan that can benefit thousands of its customers.

LIC’s Plan for Long-Term Bonds

LIC has proposed a new idea to the Reserve Bank of India (RBI) to create long-term bonds. These bonds could last for 50 or 100 years. Customers who invest in these bonds will receive a significant payout when the bond matures many years later.

Initially, LIC had considered a 40-year bond, but now they are exploring a longer duration. If RBI agrees to this idea, it could be a major success for LIC, which has earned the trust of millions of people in India.

Benefits of the New Bonds

While the exact details are still unclear, these 50- and 100-year bonds are expected to offer special benefits. One key advantage is that if an investor passes away before the bond matures, their family will receive a higher payout. This added benefit will provide extra financial security, particularly for elderly policyholders.

When Will RBI Approve the Plan?

LIC is still waiting for formal approval from the RBI for these long-term bonds. However, the company is hopeful that approval will come soon. LIC officials believe that if the plan is approved, it will mark a major turning point for the company.

Impact on LIC’s Growth

The long-term nature of these bonds is likely to attract many investors, especially those seeking a safe and lasting investment option. If approved, this move could help LIC become an even stronger and more trusted financial institution in India.