Life Insurance Corporation of India (LIC) has introduced several new plans in 2023 by unveiling a range of compelling insurance products. LIC introduced a product poised to gain substantial traction in the market.
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Here is list of LIC’s insurance offerings launched throughout the year.
LIC Jeevan Shanti Plan (Plan No. 858)
Life Insurance Corporation of India has introduced several appealing insurance products in 2023, with a spotlight on the New Jeevan Shanti (Plan No. 858). According to The Economic Times report, the revised plan boasts increased annuity rates, set to take effect from January 5, 2023, offering policyholders a strategic investment for future regular income.
LIC Jeevan Azad Plan (Plan No. 188)
LIC’s Jeevan Azad offers a unique combination of protection and savings. The plan was launched on January 20, 2023, this non-participating, limited premium payment endowment plan provides financial assistance in case of untimely death and guarantees a lump sum payment upon maturity.
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LIC Dhan Vriddhi Plan (Plan No. 869)
Dhan Vriddhi Plan is a non-linked, non-participating, single premium life insurance plan. The report added that it was available from June 23, 2023, to September 30, 2023, this closed-ended plan ensures financial support for the family in case of the life assured’s untimely demise, coupled with a guaranteed lump sum amount at adulthood.
LIC Jeevan Kiran Plan (Plan No. 870)
LIC’s latest offering, Jeevan Kiran was introduced on July 27, 2023, is an individual, savings, life insurance plan. According to the report, with flexible premium payment options and a coverage period ranging from 10 to 40 years, this plan provides essential life coverage with a minimum Sum Assured of Rs.15 lakhs.
LIC Jeevan Utsav Plan (Plan No. 871)
Jeevan Utsav focuses on individual, savings, whole life insurance plan. It was opened on November 29, 2023, this limited premium plan with guaranteed additions throughout the premium paying term offers policyholders the flexibility to choose between Regular Income Benefit and Flexi Income Benefit options.
