New Delhi: Insurance behemoth Life Insurance Corporation (LIC) launched its new insurance plan LIC Jeevan Utsav today (29 November 2023).
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“Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Corporation has announced the launch of its new product on 29th November, 2023,” LIC said in a BSE filing.
LIC Jeevan Utsav Insurance Plan 2023
Jeevan Utsav insurance plan will provide assured returns and after maturity, the policyholder will get 10 percent of the sum assured life long.
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The Details of the LIC Jeevan Utsav Plan 2023 are as follows:
| a) Name of the Product | LIC’s Jeevan Utsav |
|---|---|
| b) Date of Launch | 29th November, 2023 |
| c) Category of Product | Non-Linked, Non-participating, Individual, Savings, Whole Life Insurance Plan |
| d) Whether caters to domestic and international market | Domestic market |
Benefits Of LIC Jeevan Utsav Insurance Plan 2023
LIC Jeevan Utsav is a whole life insurance with flexibility to choose benefits
– Limited Premium Paying term 5 to 16 years
– Guaranteed Additions during Premium Paying Term
– Regular Income Benefit/Flexi Income Benefit
– Minimu Basic Sum Assured is Rs 5 Lakh
A couple of days ago LIC Chairman Siddhartha Mohanty had told news agency PTI that the insurer has lined up 3-4 product launches in the coming months with a view to achieve double-digit growth in new business premium in the current financial year.
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“We are projecting double-digit growth over the last year. We are going to achieve that because a recent trend is showing uptick in individual retail business. In order to further reinforce our commitment, we are going to launch some new attractive products,” Mohanty had told PTI.
