LIC’s new policy premium in the income (individual) segment grew by 2.65 per cent to Rs 25,184 crore in the first half of the current financial year 2023-24, compared to Rs 24,535 crore in the same period a year ago.
Public sector life insurance company LIC i.e. Life Insurance Corporation of India is going to introduce three to four new insurance policies or new products in the coming months. The company has said that this will help in achieving double digit growth in the premium of the new policy in the current financial year 2023-24. According to language news, LIC Chairman Siddharth Mohanty has said this.
A new service in the first week of December
According to the news, Siddharth Mohanty said that we are estimating double digit growth as compared to last year. Recent trends show a boom in in-person retail. Therefore we will achieve this target. He said that LIC is also going to introduce a new service in the first week of December. Hopefully it will get a good response in the market.
You will get 10 percent of the insurance amount throughout your life
Giving information about some features of the new service, he said that it will provide assured returns and after its completion, the policyholder will get 10 percent of the sum insured for the whole life. He expressed confidence that the new service will create a stir in the market as everyone wants to know how much he is paying and how much return he will get after 20-25 years.
Loan facility and premature withdrawal
Loan facility and premature withdrawal are also included in the features of this new service. LIC’s new policy premium in the income (individual) segment grew by 2.65 per cent to Rs 25,184 crore in the first half of the current financial year 2023-24, compared to Rs 24,535 crore in the same period a year ago. The new policy premium is the insurance premium payable in the first policy year of the life insurance agreement or a lump sum payment made by the policyholder.
