LIC launches new ULIP plan
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.
