Life Insurance Corporation of India, LIC has launched a new Child Insurance Plan today. The plan is called Jeevan Ankur.
LIC Jeevan Ankur is a traditional insurance plan which is not market linked. It is a participating plan which means that Bonus will accrue to the plan depending on the performance of the company. In this plan, the life of the parent is insured. In case of the death of the policy-holder, the nominee will get the Basic Sum Assured immediately and additionally 10% of the Basic Sum Assured will be paid to the nominee till date of maturity of the plan. On maturity, the Basic Sum Assured + Bonus is also paid out.
Read the detailed LIC Jeevan Ankur Plan Review.
The plan has 2 optional riders – Critical Illness Rider and Accident Death Benefit Rider.
LIC already has more than 6 plans which cater to the Child Insurance segment and this comes with a small variation and will help it establish itself further in this segment. A new product launch is usually done by LIC with a lot of marketing efforts also and we should see large premiums being collected in this plan.
