Mumbai. Insurance giant Life Insurance Corporation (LIC) on Wednesday introduced its new service Jeevan Utsav. It promises assured returns. LIC said in the information given to the stock market that it is a 'non-linked', non-participating, individual savings, whole life insurance plan.
LIC Chairman Siddharth Mohanty, while sharing some of the features of the new service in a recent interview, had said that it will provide assured returns and after its completion, the policyholder will get 10 percent of the sum assured for the lifetime. Mohanty had said that the new product is ready to create a stir in the market. Everyone wants to know how much he is paying and how much return he will get after 20-25 years.
Apart from this, loan facility and premature withdrawal are also included in the features of the new service.
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