New Delhi, Feb 5 (PTI) Life Insurance Corporation of India (LIC) on Monday announced the launch of unit linked, regular premium, individual life insurance plan Index Plus.

The plan offers life insurance cover-cum-savings throughout the term of the policy, LIC said in a statement.

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"Guaranteed additions as a percentage of annualised premium shall be added to the unit fund on completion of specific duration of policy years under an in-force policy and shall be utilised to purchase units," it said.

There is an option to partially withdraw the units at any time after the five-year lock-in period subject to conditions, it said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)