Daily Connect

Policybazaar.com, India’s one of the leading online non-life and life insurance aggregator ties-up with Life Insurance Corporation of India (LIC), the country’s largest insurer to sell its policy “Jeevan Astha” on the internet. For the first time ever LIC ties-up with an insurance portal will enable the consumers to get detailed information on the Policy, “Jeevan Astha” and buy it online on Policybazaar.com. Jeevan Astha policy can be purchased till January 21st, 2009.

LIC’s new plan, “Jeevan Aastha” is a single premium assurance plan which offers guaranteed benefits on death and maturity. Jeevan Aastha is one-time investment and offers share in its profit generated on completion of the policy term chosen. This policy enjoys double tax benefits while the premium paid enjoys section 80C benefit along with other investments allowed. Maturity proceeds received also enjoy I.T. exemption under Section 10(10D) of the I.T Act.

Speaking on this initiative, Mr. Yashish Dahiya Co-founder and CEO, Etechaces Marketing and Consulting Pvt. Ltd. said “We are always striving to get the best products to our customers, and Jeevan Aastha struck us as a product which clearly stands out in the market in terms of providing tax benefits under 80C and 1010D, but also providing excellent fixed returns, which is exactly what a lot of customers are looking for. We are also very proud of our association with a trusted brand like LIC.”

According to Dr. Tanuja Kumar, Regional Manager, LIC - “LIC believes that there are many products that can be sold online. We have partnered with Policybazaar.com as they are online Insurance specialist, which a lot of customers use to compare and choose the best insurance products. We believe that the Jeevan Astha Policy is a fantastic product which can also be sold online.”

To make a purchase, the customer logs in with a need in mind and by using a highly interactive and intuitive tabbed browsing interface, the customer can access hundreds of options and combinations. Once a simple on-line application form is filled, the site offers the best options for the policy needed. The customer is then free to finalise and close the deal which he thinks is best suited for his needs.