Lic Launches Two New Policies for Marital Savings in India

LIC (Life Insurance Corporation of India) has recently rolled out two new policies aimed at helping married couples build marital savings through secure investments. Launched to provide a safe haven for premium collection, these plans offer a blend of life cover and savings benefits, making them an attractive option for individuals looking to secure their financial future.

The first policy is the New Life Mutual Premium along with the Single Sum Assurance Policy. This plan requires a one-time payment for lifetime coverage, offering a guaranteed return on investment and fixed benefits throughout its term. The policy covers both spouse members simultaneously, providing a safety net in case of unfortunate events like death. Additionally, it guarantees an additional benefit of 70 rupees per thousand rupee base sum assured. Available terms range from 10 to 25 years with a minimum sum assured of 3 Lakh Rupees.

The second plan is the New Life Shared Partnership Limited Premium Plan, which allows premium payments in installments over 5, 10 or 15 years. It offers a guaranteed additional benefit of 7% annually during the term and returns are paid out upon policy maturity or in the event of death.

• The plans cater to married couples providing dual coverage for both members.
• Guaranteed returns with fixed benefits ensure financial security.
• Premium collection can occur as a one-time lump sum or in installments over 15 years.
• A minimum of 3 Lakh Rupees is required for the initial amount assured under both plans.

These new policies from LIC are expected to attract many married individuals and couples seeking reliable financial solutions. The introduction of these products aims to streamline the process of saving while ensuring that individuals have security in their retirement years or if faced with unforeseen life events.