For the first time, the Life Insurance Corporation (LIC) of India has introduced an endowment insurance plan that has options of paying both regular and single premium to help individuals looking to make last-minute tax-saving investments.
Usually, LIC of India launches limited-period single premium plans at the fag end of financial years, but on the contrary, Navjeevan is a regular plan, which is going to stay.
While making investments in a hurry, tax payers favour single-premium plans over regular-premium ones to avoid creating obligation to pay premiums every year.
