Current context: Life Insurance Corporation (LIC) has launched ‘Jeevan Amar’, a life term insurance plan.
a. HDFC Life
b. Birla Sun Life Insurance
c. Life Insurance Corporation (LIC)
d. SBI Life Insurance Company
- The plan provides two death cover options, the first is the level sum assured insurance in which death benefit remains the same throughout the term of the policy.
- The second one is increasing sum assured in which the death benefit first increases after 5 years than after 10 years and then 15 years or till the end of the policy term.
- The plan offers policy term from 10 years to maximum 40 years, with a maximum age of maturity at 80 years and is available for the 18-65 age group.
- The plan offers lower premium rates for women and additional concessional benefit for the rider. Also premium for smokers will be more than non-smokers.
- The policyholder has the flexibility to decide that the nominee would receive the money in a lump sum or in instalments.
Question:
Q.1 Which of the following has launched the life term insurance plan ‘Jeevan Amar’?a. HDFC Life
b. Birla Sun Life Insurance
c. Life Insurance Corporation (LIC)
d. SBI Life Insurance Company