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LIC introduces ‘Jeevan Aastha’
Published on 7 Dec. 2008 2:13 AM IST
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Life Insurance Corporation of India (LIC) would be introducing a new close ended single premium plan, 'Jeevan Aastha' from December 8, available for only 45 days and closes on January 21. Offers guaranteed returns of 9% p.a. and 10% p.a. on maturity sum assured for 5 yrs and 10 yrs term respectively. The risk cover is six times the maturity sum assured during the first year and twice thereafter. Further, premium paid and returns are exempt from tax under Sec. 80 (c) and Sec. 10 {10 (D)} respectively. The other attractions are payment for loyalty additions, availability of loan after one year and facility to assignment. The release added that the plan is designed to cater to the demand for short term plans with guaranteed returns.

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