LIC celebrates 54th anniversary, launches new pension plan

On the occasion of its 54th anniversary, the Life Insurance Corporation of India on Friday launched a new scheme - LIC pension plus. A unit linked deferred pension plan, the scheme provides the customer with a minimum guarantee on the gross premiums paid. The plan is without any life cover during the term of the policy. The customer has a choice of investing the premiums in one of the two types of investment funds available.

Announcing the scheme today, Raghupal Singh, senior divisional manager of the LIC said as per the new scheme, the minimum regular premium that can be through modes other than the ECS mode is Rs 15,000 per annum, while the maximum allowed for regular premium is Rs 1,00,000. For the ECS mode of payment, the minimum premium is Rs 1,500 per month. The minimum single premium that can be paid is Rs 30,000 while there is no upper limit, he said.

Announcing the anniversary celebration, Singh said LIC is commemorating Insurance Week from September 1-7. Various social activities have been marked for the week, like free health check-up camp, blood donation camp, dedicating days to environment, employees and agents etc.

Singh further said the Chandigarh Division of LIC has manifested an excellent 'New Business' performance as on August 31, 2010 and has secured the third rank in the entire North Zone by collecting premium of Rs 292 crore through 1,10,348 policies, thus registering a growth of 114 per cent in First Premium Income over the last financial year. For August only, the division has collected First Premium Amount of Rs 115 crore, which is a record for a month's collection.

Two new building premises for branch offices at Nabha and Morinda have been added to the estates of the Division just recently and total Satellite Offices of the Division have come to 11 so far with the addition of Ghanour and Dhanoula Satellite Offices in the recent past. A Customer Zone Centre for the convenience of the policyholder of the city is already running successfully in Sector 47, Chandigarh. Besides. the Division has opened a Metro Area Service Hub (MASH) centre at Zirakpur to render better and centralised services to the policyholders.

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