Life Insurance Corporation (LIC) on Wednesday launched two new products - New Jeevan Amar and Tech Term. Both are term assurance plans. Both the plans are non-linked and non-participating plans, which means policyholders pay fixed premiums and receive guaranteed returns.
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Non-linked plans are low-risk products that are not linked to the stock market.
As per media reports, LIC first withdrew these old plans and relaunched their new versions.
According to the LIC sales brochure, both plans offer special rates for women and premium rates differ for non-smokers and smokers.
Key features of LIC’s New Jeevan Amar:
Increasing Sum Assured.
| a) Name of the Product | LIC’s New Jeevan Amar |
| b) Date of Launch | 23rdNovember, 2022 |
| c) Category of Product | Non-Linked, Non-Participating, Individual, Pure Risk Premium Life Insurance Plan |
| d) Whether caters to domestic and international market | Domestic market |
A customer can also choose a single premium payment or a regular premium payment. A limited premium payment option is also offered. A customer can also opt for an accident benefit rider on payment of an additional premium.
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While the basic sum assured is Rs 25,00,000, no maximum sum has been set.
Citizens in the age group of 18-65 years can buy the New Jeevan Amar policy. The policy term is 10-40 years.
Key features of LIC’s New Tech-Term:
| a) Name of the Product | LIC’s New Tech-Term |
| b) Date of Launch | 23rdNovember, 2022 |
| c) Category of Product | Non-Linked, Non-Participating, Individual, Pure Risk Premium Life Insurance Plan |
First Published: Nov 23, 2022 3:40 PM IST
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