LIC of India introduces LIC’s Bima Ratna (Plan 864)
Press Release - Life Insurance Corporation of India introduced a new plan Bima Ratna with effect from 27.05.2022 which is Non Linked, Non-participating, Individual, Savings Life Insurance Plan which offers a combination of protection and savings. It is a Limited Premium paying, Money Back Plan with Guaranteed Additions.
The plan is available for a term of 15, 20 and 25 years. Premium Paying term is 4 years less than Policy term. Plan provides 25% of Basic Sum Assured as Survival Benefit at the end of each year for the last two years of policy term (T-2 & T-1) , provided the policy is in force and on maturity balance 50% of Sum Assured is payable along with Guaranteed Additions. The Guaranteed Additions shall increase in steps with the duration of the policy. The plan provides financial support for the family in case of unfortunate death of the Life Assured during the term of the policy after the commencement of risk. The Sum Assured on Death is higher of the 125% of Basic Sum Assured or 7 times of annualized premium and shall not be less than 105% of total premiums paid excluding Taxes, any extra premium and premium paid for riders.
The plan also takes care of liquidity needs through loan facility. Optional riders are available under this plan on payment of additional premium subject to conditions. Settlement option is available to receive maturity/death benefit in instalments over a period of 5 years instead of lump sum under an inforce as well as paid up policy.
The minimum Sum Assured under this plan is Rs.5 lakhs and can be increased on multiples of Rs.25000/-. There is no limit for maximum Sum Assured. The minimum age at entry ranges from 90 days to 5 years depending upon chosen Policy term. The plan is available for purchase only through LIC’s Corporate Agents (including Banks), Insurance Marketing Firms (IMF), Brokers, CPSC-SPV and POSP-LIs engaged by these intermediaries.
Dated at Mumbai on 2 7 t h M a y 2 0 2 2 .
For Further Information please contact: Executive Director (CC)
LIC of India, Central Office, Mumbai. Email id:ed_cc@licindia.com
Visit us at www.licindia.in
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
