LIC launches new cover plan

The south-central zone of Life Insurance Corporation of India (LIC) has launched a new insurance plan "� Jeevan Plus "� replacing the earlier Bima Plus.

Jeevan Plus is a unit-linked whole life plan available for people in the age group of 0-65 years. The policyholder can choose between four fund types "� bond fund, secured fund, balanced fund and growth fund "� and can switch between the fund types during the policy term.

Top-ups in multiples of Rs 1,000 can also be paid during the policy term. However, no additional death benefit will be available on the top-ups. The policyholder can also avail of an accident benefit and critical illness rider options.

As on September 30, 2005, LIC south central zone sold 15.17 lakh policies with the first premium received being Rs 700 crore.