Life Insurance Corporation (Lanka) Ltd a joint venture of LIC of India, Government of India and Bartleet Trans capital Limited launched an innovative pure term Insurance Plan called ‘Sanjeewani” on February 17, at Taj Samudra.
While felicitating the customers who took LIC’s Sanjeewani policy on the day of the launch, S.C. Pattanayak, CEO and MD, Life Insurance Corporation (Lanka) said, “Life Insurance Corporation (Lanka) offers a wide range of holistic life insurance products for the customers of all ages. “Sanjeewani” Plan allows our customers to enjoy the benefits of a life cover throughout the policy term by paying premium for five years less than the policy term. Life Insurance Corporation (Lanka) “Sanjeewani” Plan offers dual benefit of life cover and return of premium. The plan offers Double Accident Benefit and five per cent as Funeral Benefits in case of death without charging any extra premium.
The plan is available for ages 18 to 60 years, with the maximum age at maturity being 70 years. Individuals can pay premium on a monthly, quarterly, half-yearly, or annual basis. The one time premium payment option is also available. Customers also have the option to add riders such as Medical Support Benefit and Critical Illness Rider to their policy.
Life Insurance Corporation (Lanka) recoded GWP of 1006 million showing a growth of 40.70% against the Life Insurance Growth of 21.08% in the fiscal 2021. Life Insurance Corporation (Lanka) offers a diversified suite of 20 need-based offerings (products and riders) catering to diverse customer segments, and augmenting various investment options.
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