LIC introduces savings life insurance plan

LIC introduces savings life insurance plan
Representational ImageFile/ GK

Srinagar: State-owned Life Insurance Corporation of India (LIC) on Monday introduced a non-linked, non-participating, individual savings life insurance plan.

The insurer added that there are special premium rates for female lives and the plan is allowed to the third gender.

The plan, Dhan Rekha, provides a percentage of the basic sum assured as survival benefit at regular intervals starting from the end of the premium-paying term, provided that the policy is in force, the insurer said in a statement.

On maturity, the policyholder will receive full sum assured without the deduction of the money back amount received along with accrued guaranteed additions, the statement added.

For single premium death, the sum assured is 125 per cent of the basic sum assured plus guaranteed additions.

Greater Kashmir