LIC announces launch of unit linked, regular premium 'Index Plus'

State-owned Life Insurance Corporation of India (LIC) on Monday announced the launch of unit linked, regular premium, individual life insurance plan Index Plus.
 

According to exchange filing, the product which will be available from February 6, 2024 is a unit linked, non-participating, individual life insurance plan.

The plan offers life insurance cover-cum-savings throughout the term of the policy, LIC said in a statement.
 

"Guaranteed additions as a percentage of annualised premium shall be added to the unit fund on completion of specific duration of policy years under an in-force policy and shall be utilised to purchase units," it said.
 

There is an option to partially withdraw the units at any time after the five-year lock-in period subject to conditions, it said.

In January, LIC had launched a new non-linked, non-participating individual savings deferred annuity product- Jeevan Dhara-II available from January 22, 2024.