CHENNAI: Life Insurance Corporation (LIC) on Wednesday launched a new scheme — Endowment Plus, which offers both investment and insurance options during its term — across the country.
Speaking at the southern launch of the policy here, T Sitharthan, Zonal Manager, LIC South Zone said that the Endowment plus (Unit Linked Policy - policy number 835), is one of a kind and offers both investment opportunities in both low-end risk government debentures or high-end private equity depending on the risk the customer would want to take with the policy besides providing insurance cover.
Under the investment options, the person can opt for a bond fund for low risk, secured and balanced funds for mid risks and Growth fund for long term capital growth with up to 4 investment switches can be done in a policy year free of cost.
The plan has a policy term of 10-20 years and partial withdrawal is allowed after 5 years subject to conditions.