LIC of India introduces new plan LIC’s Jeevan Kiran
(Press Release): Life Insurance Corporation of India (LIC) has recently introduced a new plan called LIC's Jeevan Kiran (Plan No. 870), effective from July 27, 2023. This individual, savings-oriented life insurance plan offers life cover with a return of premium, making it an attractive option for those seeking high life coverage at a reasonable cost.
The plan is available for individuals aged 18 to 65 years, with a minimum sum assured of Rs. 15 lakhs for moderate life cover. Policyholders can choose a policy term ranging from 10 to 40 years, and the premium rates differ for smokers and non-smokers.
Premium payment options include single premium or regular premium payable for the policy term. Rebates on tabular premium are available for sum assured amounts exceeding Rs. 50 lakhs. The minimum installment premium is set at Rs. 3000 for regular premium policies and Rs. 30,000 for single premium policies.
On maturity, if the policyholder survives till the maturity date and the policy is in force, the plan allows for a refund of total premiums paid (excluding any extra premium, rider premium, and taxes paid). In the event of the policyholder's death during the policy term, the "Sum Assured on Death" will be payable, which will be the higher of 7 times the annualized premium or 105% of the total premium paid up to the date of death or the basic sum assured for regular premium payment policies. For single premium policies, it will be the higher of 125% of the single premium or the basic sum assured.
Optional riders, such as the Accidental Death & Disability Benefit Rider and Accident Benefit Rider, are available for an additional premium. The plan also offers a settlement option, allowing the maturity or death benefit to be received over a period of 5 years.
LIC's Jeevan Kiran plan can be purchased online through the LIC website (www.licindia.in) or offline through agents, corporate agents, brokers, and Insurance Marketing Firms (IMF). It is a non-linked and non-participating plan, providing policyholders with a comprehensive and flexible life insurance solution.
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345 Indian fishermen stranded in Iran return home via Armenia
New Delhi (PTI): A group of 345 Indian fishermen, who were stranded in Iran amid escalating regional tensions, returned to India via Armenia on Saturday, officials said.
External Affairs Minister S Jaishankar thanked his Armenian counterpart Ararat Mirzoyan for assistance in return of the Indian nationals.
The Indian nationals arrived in Chennai this evening, the officials cited above said.
The circumstances that led to them being stranded in Iran were not immediately known.
"Thank FM @AraratMirzoyan and the Government of Armenia for facilitating the evacuation of Indian fishermen today from Iran, through Armenia to India," Jaishankar said on social media.
Over 1,500 Indian nationals have left Iran through land border crossings in Armenia and Azerbaijan since the start of the West Asia conflict over a month ago.
"A group of Indian fishermen, stranded in Iran, are returning home via Armenia today; their flight is expected to reach India this evening," a government statement said.
It said the Ministry of External Affairs continues to closely monitor the evolving situation in the West Asian region, with the safety, security and welfare of the Indian community being accorded the highest priority.
It also made a mention of five Indians being injured in Abu Dhabi on Friday.
According to Abu Dhabi authorities, the Indian nationals were among the 12 people injured by debris from an intercepted missile.
"In an attack in Abu Dhabi, five Indian nationals were injured; four have been discharged, one remains under treatment," the Indian government's statement said.
It said the Indian mission in Abu Dhabi is extending "full" assistance and coordinating with local authorities, adding that their flight is expected to reach India this evening.
