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LIC to launch new single premium policy
[Posted by: InsuringIndia News on 24-Aug-2011]
LIC is in the process of bringing a new single premium policy after a break of two and a half years. Keeping in view volatile markets and judging market sentiments, LIC is ready to launch its best-selling insurance product in the form of a single premium policy.

Almost two and half years back, LIC launched a single premium policy “Jeevan Astha". Investors responded eagerly to Jeevan Astha. In fiscal year 2009, around 1.8 million policies were sold amounting to Rs. 10,235 crore in just forty-five days.

LIC is now waiting to get the permission from IRDA and is aiming to launch it in the first week of September.

The product is expected to give a fixed return of 7% - 8% per year with insurance cover also. The policy also offers tax exemption and has a tenure choice of 5-10 year.

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**This is based on the difference between the highest and lowest premium's for a single person, age 25, looking for a term plan, with the sum insured of Rs. 30 lakhs, and the premium paying term of 30 years.
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