LIC International launches Single Premium Wealth Creator - Equity linked Plans (ULIP) for UAE market
Plan can be customised to meet investor needs and objectives
LIC International, – a JV company owned by Life Insurance Corporation of India with its HQ in Bahrain and Branches in UAE (Dubai and Abu Dhabi) announces the launch of new ULIP Product for its UAE Market. The Product “Single Premium Wealth Creator” was launched by Mr M R Kumar, Chairman LIC of India at a special ceremony held at Hotel Dusit Thani, Abu Dhabi on 22nd Nov 2022.
This Single Premium Wealth Creator Plan is an equity Linked Single Premium whole life Plan, which provides the investor a platform to invest and participate in the performance of various market linked diversified funds managed by various AMCs based in Dubai. The plan has been designed to cater to the needs of Savings and Investment, and can be customized to meet the investor’s aim and objectives. The Investor shall have options to choose the premium amount and various Funds managed by AMCs based on his/her risk appetite and financials goals.
LIC International is a niche brand present in the GCC for more than 3 decades and is well known for their capital guaranteed savings cum insurance plans. With this new launch LIC International is venturing into a new product segment to meet the emerging aspirations and investment needs of millennials investors, who along with Life Insurance coverage can maximise their wealth by investing in the Diversified Equity market through recourse to professional fund manager(s). This plan is suitable for wide age groups from 5 to 70 years. The minimum Single Premium investment amount is $15,000.
The company’s objectives are to reach out to the young investor and offer a blend of flexibility, convenience and opportunity to optimise wealth through diversified global funds and a personalised approach to growth-oriented funds. The company intends to roll out more such innovative products during the year 2023 and help clients plan their complete financial needs with LIC International. The plan can be purchased through their exclusive Chief Agent in the UAE, Kingstar Insurance Agencies. For more details on the plan please visit www.licinternational.com or contact the LIC branches in Dubai and Abu Dhabi.