LIC to withdraw Bima Nivesh, new plan soon

The Life Insurance Corporation of India (LIC) has decided to withdraw its new Bima Nivesh Plan from September 16, 2002, and replace it with a modified version of the same plan two days later. On September 18, it is also planning to launch another money back plan called ‘Jeevan Samrudhi’. “However, our existing ‘Bima Nivesh Triple Cover’ plan, which, besides guaranteed returns also provides for term rider to facilitate high risk coverage, continues,” LIC said in a release on Saturday.

But, LIC has denied that the ‘New Jeevan Shree’ plan was also being withdrawn. It has clarified that such reports were not based on facts. At present, there are no plans to withdraw ‘New Jeevan Shree”, it added.