LIC of India Launches new Unit-Linked Insurance Plan, LIC’s Index Plus
(Press Release): The Life Insurance Corporation of India (LIC) has introduced a new insurance plan, LIC’s Index Plus (Plan 873), effective from February 5, 2024. The plan, a Unit Linked, Regular Premium, Individual Life Insurance offering, provides life insurance cover combined with savings throughout the policy term.
The Unique Identification Number (UIN) for LIC’s Index Plus is UIN: 512L354V01. This plan offers guaranteed additions as a percentage of the Annualized Premium, added to the unit fund at specific policy years' completion. These additions are then used to purchase units.
Key Features of LIC’s Index Plus:
- Age Criteria: Minimum entry age is 90 days (completed), and the maximum entry age is 50 or 60 years (nearer birthday), depending on the basic Sum Assured.
- Sum Assured: Ranges from 7 to 10 times the Annualized Premium for entry age 90 days to 50 years, and 7 times for entry age 51 to 60 years.
- Maturity Age: Minimum age at maturity is 18 years (completed), and the maximum age is 75 or 85 years (nearer birthday) based on the basic Sum Assured.
- Policy Term: Minimum term is 10 or 15 years, and the maximum term is 25 years, with the premium paying term being the same as the policy term.
- Premium: Minimum premium varies based on the payment frequency, ranging from Rs. 30,000 (Yearly) to Rs. 2,500 (Monthly).
- Funds: Policyholders can choose from two funds - Flexi Growth Fund and Flexi Smart Growth Fund, primarily investing in selected stocks from NSE NIFTY 100 or NSE NIFTY50 index.
- Withdrawals: Partial withdrawals are available after a 5-year lock-in period, subject to conditions.
- Survival Benefit: On surviving the maturity date, an amount equal to the unit fund value is payable.
- Death Benefit: The amount payable on the death of the life assured varies based on whether it occurs before or after the commencement of risk.
The plan also provides an option to choose LIC’s Linked Accidental Death benefit rider and allows partial withdrawals of units after the lock-in period. It is a non-participating plan and can be purchased offline through agents or online directly through the LIC website.
For detailed information, interested individuals are advised to refer to the full Product Prospectus and Sales Brochure available on the LIC website: [www.licindia.in]
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Nothing wrong if Kharge wants to come back to Karnataka politics: G Parameshwara
Bengaluru(PTI): Karnataka Home Minister G Parameshwara on Tuesday said there is nothing wrong if party national President Mallikarjun Kharge wants to return to state politics.
He was responding to a question from reporters on Kharge's remarks, recalling how he lost the Chief Minister's post to S M Krishna after the 1999 Karnataka Assembly polls. Kharge's remarks added to the speculations of leadership change in Congress and about his return to state politics.
Senior Congress leader Parameshwara also said that wrongly interpreting Kharge is also not correct.
Kharge's statement seems to have rekindled the debate on 'Dalit CM' within the party. The AICC President, who hails from Karnataka, belongs to a Scheduled Caste.
Making a Dalit the CM is a hotly debated matter within the Congress party, the issue on which senior leaders and Ministers Parameshwara and H C Mahadevappa have openly spoken in the past. Both belong to Scheduled Castes.
These comments have come amid speculations within the state's political circles, especially within the ruling Congress, for some time now about the Chief Minister change later this year, citing a rumoured power-sharing agreement involving incumbent Siddaramaiah and Deputy CM D K Shivakumar.
"Kharge is a senior leader not only in our party, but in national politics, making comments on him is not right. Kharge is competent to hold all kinds of positions; he has experience, and he has been in politics for about 50 years. If he says something, interpreting it wrongly is not correct," Parameshwara told reporters in response to a question.
Asked about some speaking about his return to state politics, he said, "There is nothing wrong in it. He is holding the decisive position in our party. He is the one who decides as to who should be the Chief Minister, being the AICC President. So, in case he wants to come back to state politics, no one should interpret it wrong."
Speaking at an event in Vijayapura on Sunday, Kharge had recalled about him missing the Chief Ministerial post, when Congress came to power in 1999.
"As CLP (Congress Legislature Party) leader I tried to bring the party to power (ahead of 1999 polls), the party formed the government and S M Krishna became the Chief Minister. He had come (as KPCC President) four months ahead (of polls)....all my service was washed down the river. I feel that -- I toiled for five years, but the person who came four months ago was made the CM," the Congress chief had said.
"What I'm trying to say is, we may face difficulties, but we must continue to work without greed in mind. If you are greedy, you won't get anything, also you won't be able to do what's in your mind. Passing through all these things, from being a block president, I have now become AICC President. I did not go behind positions," he further said.
Mahadevappa too, reacting to Kharge's statement on Monday had said, Kharge is one of the senior leaders in the country and he has all the required qualities to occupy any constitutional post, and our wish is that he should get an opportunity, whenever there is one.
Naming Dalit leaders in Congress who have occupied the CM post in other states like -- Damodaram Sanjivayya, Sushil Kumar Shinde, Jagannath Pahadia and Ram Sundar Das, he said, "When time comes the party will take a decision and everyone will abide by it."
However, trying to downplay speculations, Kharge's son and IT/BT Minister Priyank Kharge on Monday said his father was merely sharing the path he had walked in his political career -- both ups and downs -- and that his speech should be seen in entirety not selectively. He has also made it clear that he has no regrets.
"From the blessings of everyone, the people of Kalaburagi and Karnataka, he is in the post that was once occupied by Subhas Chandra Bose and Gandhiji. Whatever he has decided on his political future, he will decide himself. He has earned that respect and reputation. He has a good relationship with the high command. Whatever he decides, Rahul Gandhi, Sonia Gandhi and Priyanka Gandhi will automatically accept it," he said.
