'LIC's Jeevan Bharati-I popular amongst women'

MUMBAI: Life Insurance Corporation of India (LIC) sought to rest speculation that it had no policies for women and that it was unable to design one for the fairer sex.

"It is not correct to say that LIC did not have a policy for women. All we did was withdraw an exclusive policy for women - Jeevan Bharati and replaced it by an improved version called Jeevan Bharati-I," LIC Managing Director D K Mehrotra said here.

"I don't want my customer to get misled. This is a very popular plan amongst women," he said. Clarifying further, Mehrotra said, "Jeevan Bharati was withdrawn on July 30 this year, the very same day Jeevan Bharati-I was launched which has so far attracted 15,000 women policy holders."

"Jeevan Bharati-I is a good plan as it looks after major investments specific to ladies. It also takes care of the unborn child," he said.

A unique element in Jeevan Bharati-I is that it offers insurance cover as an add-on for critical illness among women and congenital disabilities.

Other features include encashment of survival benefit, flexibility to pay premium in advance, option to receive maturity proceeds in the form of an annuity and auto cover.