LIC''s new plan for corporate executives and high networth individuals

Chennai: In order to cater to the corporate executives and high networth individuals, the Life Insurance Corporation of India (LIC) has come out with a new plan called Amulya Jeevan similar to keyman insurance policy.

Amulya Jeevan is a term assurance scheme, open to those who have completed 18 years but are below 60 years. The duration of the policy is open between a minimum of five years and a up to maximum of 35 years. However, the policy matures when the policy-holder reaches the age of 70 years.

The features of the policy are:

• Minimum Sum Assured: Rs25 lakh. In multiples of Rs1 lakh thereafter.
• Maximum Sum Assured: No limit
• Premium payment mode: Yearly, Half yearly and Single
• Minimum policy term: 5 years
• Maximum policy term: 35 years