Financial Daily from THE HINDU group of publications
Saturday, Jan 19, 2002
Financial Daily from THE HINDU group of publications Saturday, Jan 19, 2002 |
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Money & Banking
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Life Insurance LIC rider on select policies Our Bureau
MUMBAI, Jan. 18 THE Life Insurance Corporation of India has introduced a new facility — the term assurance rider — under select life insurance policies. Under the whole life endowment and money back plans, the new facility would offer extra risk cover to the extent of double the existing risk cover under the plan, subject to an overall limit of Rs 25 lakh. It would cost a small extra premium depending on the age of the policyholders, a press release said. The facility will be available to policyholders between the ages of 18 and 50 years and the minimum extra risk cover will be Rs 1 lakh for a period ranging from 10 to 35 years depending on the term of the policy taken, the release said. Initially, this facility will be available only for new policies but may be extended to existing policies eventually, the release said.
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