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