The New policy, ‘Jeevan Pragati,’ launched by the lIC has the unique feature of automatic increase in risk after every five years during the term of policy.
Zonal manager of lIC KS Nagnyal was speaking with the media person on the launch of new policy of lIC Jeevan Pragati.
The new policy is a non-linked, with profits plan that offers a combination of protection and savings. In addition, this plan also takes care of liquidity needs through loan facility.
Sum Assured during first 5 policy years, 125% of the Basic Sum Assured during 6th to 10th policy years, 150% of the Basic Sum Assured during 11th to 15th policy years and thereafter 200% of the Basic Sum Assured. The Plan is available from ages 12 years to 45 years. Maximum Maturity Age will be 65 years.
lIC's e-services will offer repository services as per the Revised Guidelines by IRDA on the same. It was formally inaugurated by TS Vijayan, Chairman IRDAI in Mumbai. The function was also graced by Chairman, lIC, SK Roy, Managing Directors VK Sharma and Smt. Usha Sangwan.
Basic services as mandated by IRDAI such as Policy status, Bonus status, loan status, Claims status etc will be available to the customers registered on lIC's e-Services. Premier services such as premium due calendar, online premium payment facilitation, premium history, claim history etc will also be available to the registered customers.