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LIC to launch `Bima Nivesh 2004'

MUMBAI, MAY 15. The Life Insurance Corporation of India is to launch a single premium scheme `Bima Nivesh 2004' on May 17, in response to market demand for insurance cover for those who have no regular and good periodical income.

The plan would be available for fixed term of five and ten years under single premium mode of payment. The minimum sum assured offered is Rs. 25,000, an LIC release said. The guaranteed additions at the rate of Rs. 40 per Rs 1,000 per annum would be payable under the five year plan and Rs. 45 per Rs. 1,000 per annum under the ten year plan, it said.Depending on its experience, the LIC may also pay loyalty bonus on maturity, it added.

PTI

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