Jeewan Akshay’ policy of life Insurance Corporation (lIC) of India which provides guaranteed pension to the policyholder is getting very good response from people. The Senior Divisional Manager (SDM) of lIC Ramesh Chandra said this while addressing mediapersons here on Monday. He informed that the policy is offering pension on one time investment of funds. The pension under the product varies from 7.32 to 7.25 Percent per annum which is more than the prevalent bank interest rate of 7.25 percent. Chandra said that the banks regularly revise their interest rates but the feature of this policy is that it offers fixed pension once taken.
He said that people’s interest in the policy has increased keeping in view new pension guidelines of Insurance Regulatory Development Authority (IRDA) and decreasing rates of interest.
The SDM of lIC said that the special revival campaign for the lapsed policies has been extended for one more month and now the last date to revive any lapsed policy is November 30. The insurance giant is offering a rebate of 30 percent in interest to revive the lapsed policies.
He informed that Dehradun division has revived 14000 policies under the campaign and had mopped up a premium of Rs 12.14 Crores under it.