Master
21-09-2010, 08:01 PM
Life Insurance Corporation of India has launched a unit-linked plan called ‘Endowment Plus'.
This is the second ULIP that the corporation has launched after the new guidelines came into effect from September 1. It had launched a unit linked pension plan called ‘Pension Plus' earlier this month.
The minimum annual premium under Endowment Plus varies from Rs 20,000-Rs 30,000 a year depending on the mode of payment. The policy can be bought by people in the age group of 7 to 60 years.
The plan offers a risk cover of up to 11-30 times of annualised premium with a policy term between 10-20 years.
Policy holders have the option to choose between four fund options. They can switch their fund options with four free switches every year.
Policy holders can avail themselves of a loan under the policy after three years to the extent of 30 per cent of the policy holder's fund value.
This is the second ULIP that the corporation has launched after the new guidelines came into effect from September 1. It had launched a unit linked pension plan called ‘Pension Plus' earlier this month.
The minimum annual premium under Endowment Plus varies from Rs 20,000-Rs 30,000 a year depending on the mode of payment. The policy can be bought by people in the age group of 7 to 60 years.
The plan offers a risk cover of up to 11-30 times of annualised premium with a policy term between 10-20 years.
Policy holders have the option to choose between four fund options. They can switch their fund options with four free switches every year.
Policy holders can avail themselves of a loan under the policy after three years to the extent of 30 per cent of the policy holder's fund value.