India’s largest insurance company, Life Insurance Corporation of India (LIC), has launched two new schemes. These two new schemes are called the LIC Jan Suraksha Plan and the LIC Bima Lakshmi Plan. Let’s find out more.
India’s largest insurance company, Life Insurance Corporation of India (LIC), has launched two new schemes. These two new schemes are named LIC Jan Suraksha Plan and LIC Bima Lakshmi Plan. LIC announced this in an exchange filing. Both of these schemes began yesterday, October 15th. LIC has specifically designed both schemes for the domestic market. These schemes are designed to meet the needs of the people. Let’s learn more about both LIC schemes.
LIC Jan Suraksha Yojana
LIC Jan Suraksha Yojana (880) is a low-cost micro insurance scheme designed specifically for low-income individuals. The LIC Jan Suraksha Yojana is not linked to the market, so there is no risk involved. This scheme is a non-participating and non-linked life insurance scheme. This scheme will be beneficial for those who want to protect their families with low premiums.
LIC Bima Lakshmi Yojana
LIC Bima Lakshmi Yojana is a type of life insurance scheme. It also functions as a savings plan. This allows individuals to save while receiving insurance. This scheme also provides returns upon maturity. This scheme is ideal for middle-class individuals. This scheme is also non-participating and non-linked. Therefore, the returns are not dependent on market performance.
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