New Delhi: Insurance giant Life Insurance Corporation (LIC) has decided to stop selling as many as 34 policies, including Jeevan Anand, Jeevan Madhur and Jeevan Saral, to comply with new regulatory guidelines.
These policies are being withdrawn in December as they are not in conformity with the provisions of new regulations on non-linked insurance products, linked insurance products and health insurance products, a senior LIC official said.
Of the 34 products, LIC will stop sale of Jeevan Amrit from December 7, Jeevan Surabhi from December 14 while two other schemes from December 21 and December 28 respectively.
Remaining 28 policies will go off LIC’s shelves from December 31. Last month, LIC had withdrawn 14 policies including Convertible Term Assurance, Children Deferred Endowment Assurance. These policies are being discontinued as part of regulatory compliance....