Life Insurance Corporation of India (LIC) will on Wednesday launch nationwide its first unit-linked insurance policy (ULIP) under the new regulations, an official said here.
"The Endowment Plus will be the first ULIP from LIC under the new regulations," the official told IANS.
He said the company has around 20 traditional insurance policies and Endowment Plus will be the first ULIP to be launched.
Before the advent of the new policy regulations a couple of years ago, LIC had over 60 products in its portfolio and under 10 ULIPs, he said.
Like all other ULIPs, the proposed one would also offer life cover as well as investment returns.