LIC launches two non linked plans

MUMBAI: Life Insurance Corporation today said it has launched two new non linked plans -- Bima Account I and Bima Account II.

These are the first Variable Insurance Plans under the new IRDA regime, LIC said in a statement here.

The plans are very simple, ensure liquidity for the customer, have guaranteed minimum returns, transparent charges and provide ample risk cover, it said.

Moreover, in Bima Account I there is no requirement of undergoing medical examination.

The entry age for the Bima Account I is from 11 years to 50 years while it is 8 years to 60 years for Bima Account II.

The minimum premium is Rs 600 per month under ECS mode for Bima Account I, while it is Rs 1,250 under Bima Account II, it said adding that the minimum yearly premium for Bima Account I is Rs 7,000; and Rs 15,000 for Bima Account II.