LIC Launches New Plan Index Plus

Life Insurance Corporation of India on Monday announced the launch of unit linked, regular premium, individual life insurance plan Index Plus.

The plan offers life insurance cover-cum-savings throughout the term of the policy, LIC said in a statement.

"Guaranteed additions as a percentage of annualised premium shall be added to the unit fund on completion of specific duration of policy years under an in-force policy and shall be utilised to purchase units," it said.

There is an option to partially withdraw the units at any time after the five-year lock-in period subject to conditions, it said.