CURRENT AFFAIRS

Detailed explanation-1: -LIC Bima Ratna Plan is a non-linked, non-participating, individual, savings life insurance plan that is available through the corporate agents, brokers, Insurance Marketing Firms (IMF) and Common Service Centers (CSC) of Life Insurance Corporation of India.

Detailed explanation-2: -The correct answer is Life Insurance Corporation of India. Life Insurance Corporation of India has launched a savings life insurance plan called Bima Ratna. The non-linked, non-participating, individual scheme offers a range of protection and savings.

Detailed explanation-3: -Life Insurance Corporation of India - LIC’s Bima Ratna (Plan No. 864, UIN No.

Detailed explanation-4: -Non-linked insurance plans are traditional insurance plan that only aims to offer comprehensive financial protection to your family in case of your unfortunate demise during the policy tenure. These insurance plans are not linked to the market, and hence, their returns are not based on how the market performs.

Detailed explanation-5: -As the name suggests, non-linked, non-participating insurance plans do not participate in the insurance company’s business. You have to pay a fixed premium based on the sum assured and receive guaranteed returns. The promised amount is paid to the nominee in case of the unfortunate demise of the policyholder.