LIC Schemes: The country’s largest insurance company, Life Insurance Corporation of India (LIC), has announced the launch of two new products for the domestic market in an exchange filing. These products will be available for sale from October 15.
The schemes have been launched named LIC Jan Suraksha and LIC Bima Lakshmi. Both these schemes will meet different individual needs. Both the schemes are non-linked and non-participating. This means that they will not be affected at all by market fluctuations. The investment will be completely safe.
Both of these schemes have been specifically designed for the domestic market. They have been created keeping in mind the diverse needs of the general public. The launch of these two schemes will provide investors with more options.
LIC Jan Suraksha
This plan is specifically designed for low-income individuals. It offers insurance coverage at a very low premium. Since it’s not linked to the market, it’s risk-free. For those with limited income, this plan can be an affordable and reliable option. It’s a non-participating, non-linked insurance plan, meaning it’s neither market-linked nor offers any bonuses.
LIC Bima Lakshmi Yojana
This scheme is designed with the middle-class in mind. It offers both life insurance and savings benefits. A maturity amount is also paid upon completion of the policy term. This plan is also not linked to the market, so investments are completely safe. It is also a non-participating and non-linked plan. This means that its returns are independent of market performance and there are no bonuses. It is intended to cover individuals who want the benefits of savings along with insurance protection.
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.