LIC Flexi Plus is a unit linked insurance product and provides a lump sum benefit on death and also the maturity benefit irrespective of survival of the policyholder while New Jeevan Nidhi from LIC is a conventional product with profit pension plan
New Delhi: Life Insurance Corporation of India (LIC) has launched two new policies, including a unit linked insurance plan, reports PTI.
Flexi Plus, a unit linked insurance product, not only provides a lump sum benefit on death but also the maturity benefit irrespective of survival of the policyholder, LIC said in a statement.
The policyholder can choose the amount of premium he/she desires to pay, depending on which equivalent level of cover will be provided. The plan aims at steady income carrying lower to medium risk, LIC said.
The other scheme called New Jeevan Nidhi is a conventional product with profit pension plan, which provides for death cover during deferment period and offers annuity on survival to the date of vesting.