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LIC collects Rs.101 crores through sale of ULIPs

Staff Reporter

KOTTAYAM: The Life Insurance Corporation of India (LIC), Kottayam division, has collected Rs.101 crores of new business premiums through sales of the two premium unit linked insurance plans (ULIPs) — Future Plus and Jeevan Plus during the months of May and June, Senior Divisional Manager Sreedharan said.

Speaking to the media at the launch of LIC's new product, Jeevan Tarang, here on Tuesday, Mr. Sreedharan said the Division, which caters to the districts of Kottayam, Alappuzha, Idukki and Pathanamthitta, hopes to mope up another Rs.100 crores through the sale of the new product during the next two months. The `whole life plan' has an accumulation period with terms of 10, 15 and 20 years during which the premiums are collected. The plan also has a guaranteed return period when guaranteed instalments at the rate of 5.5 per cent of the sum assured are paid every year throughout the lifetime of the policyholder.

Additional riders like double accident benefit, term cover and critical illness cover are also available as options during accumulation period.

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