LIC has launched a new product by the above mentioned name. It has received Golden Peacock Award. Let us see what are the features of it.

Features:

– In this plan the premium can be paid monthly much like recurring deposits.

-The minimum premium is 250 rupees per month for people aged between 12 to 49 and 400 rupees for people aged between 49 to 60.

-The cover is 250 times of the monthly premium paid.

-In case of demise of the policy holder, the nominee will get all the premiums paid excluding the first year premium and also the amount of the life cover. Bonus will also be given if eligible.

-On survival the policy holder will get the maturity amount and also the loyalty additions.

-The policy can be surrendered after completion of 3 years.

-It will also have a paid up value after 3 years.

-30 percent is the stipulated minimum surrender value.

-Loan facility is available under this policy.

-Partial surrender is also permitted in this product.

-The returns obtained at maturity is free of tax as it falls under the deductible section of the income tax act.

-Even after proper completion of 5 policy years, an investor is entitled to withdraw 100 percent of the maturity amount assured. Thus this product provides ample liquidity to the investors.

-There is no fixed interest paid but loyalty additions are paid every year and that may vary.

Thus go for this policy. It is free of tax and a flexible investment option that provides high insurance cover.