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LIC (Lanka) launches unique investment cum insurance plan

12 March 2015 04:24 am - 0     - {{hitsCtrl.values.hits}}

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LIC (Lanka) has launched a unique investment cum insurance plan, MONEY PLUS, which gives a guaranteed return of 12 percent p.a.  This is a single premium  plan for  a fixed  5 year term. 
At maturity, i.e at the end of   5 year,  the  deposit amount along with 12 percent pa return will be given to the policy holder. In  the  unfortunate death of the policy holder during the first four years, 1.5 times of the  single premium amount will be   given and if death occur in the fifth year, before the maturity date, 1.6 times of the single premium will be given to the nominee. Thus, this plan assures a guaranteed return in either maturity  or on unfortunate death of the policy holder. Income tax benefits, as per rule also available for  this plan.
Hence , this plan  is a mix of three benefits  which are: viz Investment return, Insurance cover and Income tax benefits.  
The policy  can be   availed by people in the age group of  18 to 55.Minimum  premium is LKR 21000 for ages upto  45 and  Rs. 23000 for ages upto 46 to 55.  Maximum no limit.  The policies will be accepted subject to the medical and other  underwriting  rules of LIC (Lanka) Ltd.
LIC (Lanka) Ltd is a joint venture insurance company  between LIC  of India,  the largest insurance company with an asset base  of $3000Bn  with more than 300 Mn policy holders in India and M/s Bartleet group, which  is  an age old business conglomerate in Sri Lanka, which has presence in  almost  all  areas like, Tea  broking, plantations, IT services, Equity,   Various financial services,  etc. Built on a strong foundations of solvency and RBC platform, LIC (Lanka) Ltd   has plans catering to the various insurance needs   of the   people from age 0 to 65,  including group insurance schemes, group gratuity schemes, decreasing term insurance plan or mortgage redemption plan etc.
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