LIC: These 23 plans, including Jeevan Anand, which are going to discontinue in January, may increase the premium
NEW DELHI: Life Insurance Corporation of India (LIC) is going to close about two dozen plans soon. Following the guidelines of the Insurance Regulatory Body, these plans will be launched afresh on 1 February. Know which plots are being closed…
LIC is going to close about two dozen plans soon. In which popular plans like LIC New Jeevan Anand, Jeevan Umang, Jeevan Lakshya are also included. According to reports, following the guidelines of the Insurance Regulatory Body, these plans will be launched afresh on 1 February.
It is possible that not only the returns on new schemes will be reduced, but their premiums also increase. For this reason, LIC agents are advising customers to invest in these schemes before 31 January.
Which schemes are being closed?
Regulatory body wants to make insurance products more suitable for customers. Along with this, it is also an attempt to curb the methods of selling the policy by luring customers wrongly. The schemes that LIC is discontinuing include non-linked indebtedness insurance plans, unit linked indebtedness insurance plans, one rider plan and three non linked group insurance plans.
Among the non-linked indebtedness insurance plans of LIC which are being discontinued, Single Premium Endowment Plan, New Endowment Plan, New Money Back-20 Years, New Jeevan Anand, Anmol Jeevan 2, Limited Premium Endowment Plan, New Children Money Back Plan , Jeevan Lakshya, Jeevan Tarun, Jeevan Labh, New Jeevan Mangal, Bhagya Lakshmi Plan, Aadhar Pillar, Aadhar Shila, Jeevan Umang, Jeevan Shiromani, Bima Shree and L.I. C Micro Savings.LIC has also decided to discontinue its unit linked plan New Endowment Plus. At the same time, LIC Premium Weaver Benefit Rider will also be scrapped.
