Have LIC withdrawn its current Term Insurance Plan ?

POSTED BY Amit Gupta ON January 19, 2014 6:59 pm COMMENTS (3)

I am planning to buy a term insurance plan. I had gone through your article regarding term insurance plan and found valuable info for purchasing a term plan. I am planning to split the insurance in 2 parts. One from the LIC as it has high claim settlement ratio compared to private sectors. Though the premiums are costly. I am planning to buy the second insurance from the company which has cheaper premiums as well as it provides various riders. I was checking different insurance companies plan on their website to check my requirements. When I checked the LIC website, I couldn’t find the term insurance plan. I came to know that LIC has withdrawn 34 policies in December. Below is the reference article.

http://www.thehindubusinessline.com/industry-and-economy/banking/lic-to-stop-selling-34-policies-in-december/article5410399.ece

Do you have any idea whether they have withdrawn term insurance plan also? If so then when are they planning to launch a new term plan. I guess since their premiums are twice as costly compared to others so they had planned to discontinue these policies.

Regards

Amit Gupta

3 replies on this article “Have LIC withdrawn its current Term Insurance Plan ?”

  1. ashalanshu says:

    Dear Amit, if you want to go with LIC, please wait for launch of new plans. By the way, are you sure that till new plan launch, you are not going to die? Nothing ‘ll or may happen to you?

    thanks

    Ashal

  2. anil says:

    LIC has to withdraw the plans to comply with IRDA regulations , they will soon launch new term plans.

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