LIC plans to alter ULIP polices terms

(PTI) Life Insurance Corporation of India (LIC) was planning to raise minimum premium from Rs 25,000 to Rs 40,000 and increase the lock in period from five years to 10 years for ULIP products. "We may have to raise minimum premium from Rs 25,000 to Rs 40,000 and increase the lock in period from five years to 10 years so that commissions can be kept intact.
The actuaries are presently working on it," LIC Chairman T S Vijayan said last evening. This is to keep agents'' commissions for unit linked policies (ULIP) intact post new norms on expenses directive by Insurance Regulatory Development Authority (IRDA) from January 2010.
"From January 2010 the cap on expenses for ULIPS will be applicable. We have asked our actuaries to restructure some of our products and asked to cut expenses like manager''s charges but not to alter agents commissions or development officer''s incentives so that commissions can be kept intact," he said.
The step is seen as LIC''s move not to loose sales force in wake of growing competition from the expanding private sector life players.

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LIC's New Jeevan Nischay Single Premium Guarnteed Return Plan no 199

Details of the Plan 199 are as follows: It has been decided to introduce 'LIC's JEEVAN NISCHAY, (Plan No. 199) a closed ended plan which would be open for sale from 29th October 2009 till 31st March 2010. This plan shall be offered only to our existing policyholders.
Benefits:
LIC's Jeevan Nischay is a single premium assurance plan with Loyalty Additions, if any. It shall be offered, without any medical examination, only to the existing policyholders of the Corporation whose previous policies have been accepted at standard rates and have at least one policy inforce.

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Indiabulls Power IPO

Indiabulls Power IPO.
Detail summary of IPO
Date: 12 to 15 Oct 2009.
Price Rage: Rs. 40 to 45.
Lot Size: 150 Shares & in multiples of 150.
IPO Grading: Graded by Crisil Limited as 3/5.
Apply here to invest in Indiabulls Power IPO. Application Forms are available at our office. Free services is avail if application apply for more than 50000/-.

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