LIC launches ULIP plan again

PSU insurer Life Insurance Corporation (LIC) has launched its first ULIP after the new product regulations were issued in 2013 on Wednesday. All the existing products had to be withdrawn in 2013 after the Insurance Regulatory and Development Authority (IRDA) issued new regulations two years ago Stock Market Trading Tips

LIC, which had relaunched most of the conventional products after that, had put its plans for the unit-linked insurance product (ULIP) on hold, waiting for the right time in the markets. ULIPs are like mutual funds having an insurance cover as the money is invested in the stock markets.

The new plan, Endowment Plus, will be formally launched on August 19, said a senior official at a press conference. LIC is banking on the feature that the insured can continue keeping the money with the corporation even after the maturity date to encash on a growing market. This can happen under the settlement option by encashing the units in half-yearly or yearly basis, said the officer Himanshu Tiwari Astrologer Blog

The plan also has option for switching between various investment patterns up to four times during the tenure free of cost. tnn

The plan is available in growth, balanced, secured and bond investment pattens. The Nagpur division is expecting to sell at at least 500 plans on the first day, said the official Indian stock market astrology prediction