The Life Insurance Corporation of India (LIC) has launched two new life insurance products—LIC’s Protection Plus (Plan 886) and LIC’s Bima Kavach (Plan 887)—covering the linked-savings and pure-risk segments.

Protection Plus (Plan 886)

Protection Plus is a non-participating, linked individual savings plan that combines market-linked investment features with life insurance. The plan allows policyholders to select the investment fund, adjust the sum assured during the policy term, and make top-up premium contributions in addition to the base premium.

Partial withdrawals are permitted after five years of policy commencement.

Key parameters include:

Entry age: 18 to 65 years

Premium payment options: Regular and limited pay; PPTs of 5, 7, 10 and 15 years

Policy terms: 10, 15, 20 and 25

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