FPJ BUSINESS DESK Mumbai
Despite input cost pressures, better realisation from exports helps two- wheeler maker to record healthy margins of 20.7 %
Life Insurance Corporation of India ( LIC) has launched its first on- line product a
lt39 Jeevan Akshay VIalt39, an immediate annuity product.
J Hari Narayan, Chairman, IRDA launched the product at Mumbai, during the 52nd Senior Divisional Managersalt39 conference of LIC. This is the first product launched by LIC which is available for alt39 purchase on- linealt39. It is an immediate annuity which, on payment of a lump sum, entitles to an annuity from the very next month. Jeevan Akshay is available under any one of the 7 annuity options listed below and is available for ages 30 to 85. D K Mehrotra, C- in- C Chairman was also present on the occasion.
Hari Narayan stated that LIC has been moving from strength to strength, pre and post liberalisation with long standing tradition of ethical standards. LIC is a generic name for security and safety, added Chairman, IRDA. He also stated that there is a need for more annuity products. LICs Jeevan Akshay VI is the only immediate annuity product available in India.
