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LIC Launches Wealth Plus Plan in Singapore
Hi, I’m finally back after a period of rest. 🙂
A quick update about a product launched by one new insurance company in Singapore, Life Insurance Corporation Singapore. This company will not be unfamiliar with the Indian Nationals who are based here.
Life Insurance Corporation Singapore
Life Insurance Corporation Singapore was incorporated as a direct life insurer in Singapore in 2013 and is a fully owned subsidiary of the LIC of India.
LIC is owned by the Government of India and was established in 1956. It is one of the largest insurance companies in the world with over 294 million policies in force under individual assurance and over USD 250 billion in assets (as at 31-03-2013).
The first product that they have launched here is the Wealth Plus Plan product.
It is a 5-year single premium product with a minimum premiums of $30,000 and up to $500,000.
It is available to individuals aged between 18 to 70 and comes with a guaranteed return of 1.6% p.a.
You can download the product brochure here:
The plan is only available for a limited time and you can get it through licensed financial partners of LIC Singapore.