LIC product launch

Life Insurance Corporation of India has launched two new products "" Jeevan Anurag and Jeevan Nidhi. Jeevan Anurag is designed to provide parents for their child's education requirement.

It is an endowment plan, under which lumpsum benefits are payable at pre-specified duration irrespective of whether the life assured survives to the end of the term.

Jeevan Nidhi on the other hand is a comprehensive pension plan providing lump sum amount for pension payment at old age with insurance coverage. This is also an endowment plan with guaranteed Rs 50 per thousand of sum assured for 1st year and participation in profit thereafter. The policy is eligible for income tax rebate.