Jan 3, 2013: Life Insurance Corporation launched two new policies targeting the people looking for life insurance policies as a means of protection and tax savings. The two new products are Flexi Plus and New Jeevan Nidhi. Out of these two products Flexi Plus is a unit linked insurance plan. The benefit of this plan is that it provides maturity benefit on survival of the policy holder and also provides a lump sum benefit on the death. The product is promoted as an instrument with lower to medium risk and a policy holder can choose the premium amount which they wish to pay. Flexi Plus aims at providing steady income to the policy holder.
New Jeevan Nidhi of LIC is a conventional product which gives death cover and annuity on survival. It is a profit pension plan.