Life Insurance Corporation of India, South Central Zone, Hyderabad, organized a conference at its Zonal Office in Hyderabad, to highlight the sales progress of its new pension product "Jeevan Shanti".

Sri T C Suseel Kumar, Zonal Manager while addressing the conference, told that the South Central Zone has been doing very well in sale of the newly introduced Pension Plan "Jeevan Shanti".

He said that the new product has been received by the market extremely well and the Corporation could procure a new business premium of Rs. 2300 crore as at 24.10.2018. He further added that the South Central Zone alone could garner a new business premium of Rs. 275 crore in a short span of 40 days from the date of launch of "Jeevan Shanti".

While addressing the conference, Sri T C Suseel Kumar, Zonal Manager has told that "Jeevan Shanti", as a pension product, apart from providing immediate pension , caters to the needs of younger generations especially, in planning for their pension need at a future date, as this is the only product available with the longest deferment period (20 years as of now) .

He further added that "Jeevan Shanti", with its variety of options available, provides complete solution for the customers in retirement planning keeping in view of the falling / stagnant interest rate regime.

Sri Suseel Kumar, while reiterating the excellent features offered by the product, told that the variety of annuity options provided under Immediate annuity as well as Deferred Annuity provides immense flexibility to customers in meeting their required needs

He opined that this particular product is one of its kind to offer annuity, for age group 30-100 years — particularly to meet the financial planning requirement for younger generations and he urged the millennia's to opt for this e product at the earliest.

This product is a Single Premium product and there are no further commitments from policyholders' side.