On the occasion of its 54th anniversary, the Life Insurance Corporation of India on Friday launched a new scheme – LIC pension plus. A unit linked deferred pension plan, the scheme provides the customer with a minimum guarantee on the gross premiums paid. The plan is without any life cover during the term of the policy. The customer has a choice of investing the premiums in one of the two types of investment funds available.
Announcing the scheme today, Raghupal Singh, senior divisional manager of the LIC said as per the new scheme, the minimum regular premium that can be through modes other than the ECS mode is Rs 15,000 per annum, while the maximum allowed for regular premium is Rs 1,00,000. For the ECS mode of payment, the minimum premium is Rs 1,500 per month. The minimum single premium that can be paid is Rs 30,000 while there is no upper limit, he said.