CURRENT AFFAIRS : BANKING & FINANCE
LIC Launches New Whole Life Insurance Policy ‘Jeevan Utsav
- Life Insurance Corporation of India (LIC), has launched a new individual, savings, and Whole Life Insurance plan called Jeevan Utsav.
About Jeevan Utsav :
- The Plan is a Non-Linked, Non-Participating Plan.
- This is a comprehensive form of life insurance providing lifetime coverage.
- Unlike term insurance plans that cover a person for a specified term, whole life insurance, as the name implies, provides coverage for the entire lifetime of the insured individual.
- This insurance plan not only grant’s death benefits to the beneficiaries after the policyholder’s demise but also has a savings component where cash values accumulate over time.
