LIC of India has introduced a new scheme called “Jeevan Utsav.” The highlight of the scheme is its suitability for individuals from 90 days of birth to 65 years of age, offering a choice of premium payment tenure ranging from 5 to 16 years. The scheme guarantees 10 percent of the sum assured every year after the premium payment period ends, following a waiting period of two to five years. Additionally, policyholders have the option to withdraw funds with compound interest of 5.5% at any time, up to a maximum of 75%. This unique scheme includes whole life insurance cover and accident cover, making it versatile for purposes such as pension, insurance, children’s education, marriage, and gifting to grandchildren. Siddhartha Mohanty, Chairman of LIC, launched the scheme pan-India. This new Scheme launched in Coimbatore Division by Srinivasan, Indian Bank, Dy.General Manager/ Zonal Manager of Coimbatore Zone, in the presence of Rajendra Kumar, Senior Coimbatore Divisional Manager, and Govindraj, Marketing manager. Notably, within the hours of launch of this project, Coimbatore ranked second in overall India with the unanimous support of customers.
