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Sunday, Sep 22, 2002

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Bima Nivesh 2002 from LIC

THE Life Insurance Corporation of India has launched the third version of Bima Nivesh, a life insurance-cum-assured return product. Bima Nivesh 2002 offers sum assured ranging from Rs 25,000 to Rs 50 lakh with a term of five-ten years. The single premium rates for Rs 100 sum assured are Rs 985 for five years and Rs 923 for ten years. The age limit fixed is 18-70 years.

On the policy-holder's death, the payment would be the full sum assured and guaranteed additions. The no medical examination required for sum assured up to Rs 10 lakh. The tax-free guaranteed additions at Rs 60 per thousand sum assured per annum. A term assurance of Rs 5 lakh is available subject medical requirements.

Jeevan Samriddhi

LIC has launched a new money-back plan, Jeevan Samriddhi, with terms of 12, 15, 20 or 25 years. The guaranteed addition is Rs 65 per thousand sum assured per annum. There is also accident benefit up to Rs 10 lakh and an additional risk cover of up to Rs 25 lakh on payment of extra premium. The risk cover is for the full sum assured, irrespective of the money back instalments.

BL Research Bureau

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