Business

LICI launch Double Bula Life plan

By ELLEN STOLZ Life Insurance Corporation of India (LICI) celebrated its 56th Anniversary by launching a new unique plan known as the ‘Double Bula Life’ policy at the Holiday Inn
05 Oct 2012 09:10

Life Insurance Corporation of India general manager, Sanjeev Kumar.

By ELLEN STOLZ

Life Insurance Corporation of India (LICI) celebrated its 56th Anniversary by launching a new unique plan known as the ‘Double Bula Life’ policy at the Holiday Inn Suva last night.
Established on October 5, 1956 in India, the company has grown many folds and during 2011 alone had collected 50 million as premium income.
LICI general manager, Sanjeev Kumar Jain, said:  “This occasion of launch of our new plan has greater importance for us because during this journey of 56 years, LICI has grown many folds with premium collection crossing more than 50 million Dollars annually.”
The new Double Bula Life features provide customers with a combined benefit of an endowment and whole life plan in a single policy. The policy gives flexibility to customers in choosing the premium paying term from five to 57 years.
“What makes this policy unique is that, the insurance cover does not stop after the premium paying term, but continues till age 80.
“This plan has features which have been designed after a careful study of the Fijian market needs and systematic actuarial calculations to provide unique insurance benefit at the lowest premium rates.”




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