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LIC International launches two new investment products 'Invest Plus' and 'Flexi Wealth Builder' in Dubai
These plans have been designed to cater to the needs of savings and investment, and can be customised to meet the investor's aims and objectives at the lowest cost structures
Life Insurance Corporation (International), a joint venture company owned by LIC of India with its headquarters in Bahrain and branches in the UAE (Dubai and Abu Dhabi), today launched two new investment products, 'Invest Plus' and 'Flexi Wealth Builder', at a special ceremony held at the Hotel Grand Hyatt, Dubai. The launch was presided over by Sidhartha Mohanty, chairperson of LIC of India in presence of M Jagannath, managing director, LIC of India and other officials.
Invest Plus, a single premium product, and Flexi Wealth Builder, a regular premium product, are both global market-linked whole life plans that provide investors with a platform to invest and participate in the performance of various market-linked, globally diversified funds in USD, managed by various AMCs based in Dubai. These plans have been designed to cater to the needs of savings and investment, and can be customised to meet the investor's aims and objectives at the lowest cost structures. Investors will have the option to choose the premium amount and various funds managed by AMCs based on their risk appetite and financial goals.
Pradeep Mishra, general manager of LIC International, highlighted that "LIC International has been a niche brand in the GCC for more than three decades through its capital-guaranteed savings-cum-insurance plans. Over the past few years, there has been a paradigm shift in our product offerings, introducing a range of new and diversified insurance solutions. In the last two years, LIC International has expanded its product range with globally diversified funds, which is in emerging demand from millennial investors who can maximise their wealth by investing in the diversified equity market through professional fund managers."
These plans are suitable for a wide age group, from 5 to 70 years.The minimum single premium investment amount is $10,000, and the minimum regular premium is $300 per month.
LIC International's objectives are to reach out to young investors and offer a blend of flexibility, convenience, and the opportunity to maximise wealth through diversified global funds, along with a personalised approach to growth-oriented funds. More such innovative products will be rolled out in early 2024 to help clients plan their complete financial needs with LIC International. The plans can be purchased through their exclusive chief agent in the UAE, Kingstar Insurance Agencies.
For more details on the plans, please visit www.licinternational.com or contact the branches in Dubai and Abu Dhabi.
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