BWI: Life Insurance Corporation of India (LIC) Extends their Partnership with Policybazaar.com for their ‘Jeevan Varsha’ Policy after ‘Jeevan Aastha’

Press release from Business Wire India
Source: Policybazaar.com
Monday, March 09, 2009 04:36 PM IST (11:06 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Information technology; Technology
Release no: 19420
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Life Insurance Corporation of India (LIC) Extends their Partnership with Policybazaar.com for their 'Jeevan Varsha' Policy after 'Jeevan Aastha'
LIC 'Jeevan Varsha' can be Purchased Online only through Policybazaar.com

New Delhi, Delhi, India, Monday, March 09, 2009 -- (Business Wire India) -- After receiving an overwhelming response by selling 'Jeevan Astha' online at www.policybazaar.com, Life Insurance Corporation of India (LIC) extends its partnership to yet another policy 'Jeevan Varsha'. It can be bought online only at www.policybazaar.com. The policy would be open for sale till 31st March 2009.

Policybazaar.com, India's one of the leading online non-life and life insurance aggregator tie-up with LIC provides a platform to sell their products "Jeevan Varsha" on the internet. LIC ties-up with an insurance portal will also enable the consumers to get detailed information on the Policy "Jeevan Varsha" and buy it online on Policybazaar.com.

LIC's new plan, 'Jeevan Varsha' is a regular premium plan where all modes such as yearly, half-yearly and monthly are allowed and any person who has completed 15 years of age can buy this policy. The minimum sum assured for the monthly mode is Rs. 75,000, while it is Rs. 50,000 for other modes. Jeevan Varsha is lower than 'Jeevan Aastha', the internal rate of return will be similar to it, taking into consideration all the factors. The policy would offer Rs. 65 per Rs 1,000 sum assured and Rs. 70 for a 12 year term. The money-back plan has two policy terms - 9 years and 12 years - with the premium-paying term restricted to only nine years. It's a product which gives you the tax benefits of 80C and 1010D, but in addition, has a clear floor in terms of a 7% simple return on investment over 12 years.

Speaking on this initiative, Mr. Yashish Dahiya Co-founder and CEO, Etechaces Marketing and Consulting Pvt. Ltd. said "After getting a very good response from 'Jeevan Astha' we are trying to deliver the best for 'Jeevan Varsha' to our consumers as well as the client. We are always striving to get the best products to our customers to provide the best deals easily through internet, and we are also very proud of our association with a trusted brand like LIC."

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.

About ETECHACES Marketing and Consulting Pvt Ltd

ETECHACES Marketing and Consulting Pvt Ltd was founded by Yashish Dahiya, Avaneesh Nirjar and Alok Bansal in the year 2008. The Company launched its insurance portal, policybazaar.com in July 2008. ETECHACES Marketing and Consulting has attracted investment of Rs. 20 crores in September 2008 from India's largest internet company, Info Edge (India) Ltd.

Policybazaar.com is India's leading online non-life and life insurance aggregator. Policybazaar.com enables the customer to compare insurance products from leading insurance companies on the basis of their quality and price, and empowers the consumer to purchase the best suited insurance plan for their unique needs. The website provides an exhaustive comparison of general (car, health and travel insurance) and life insurance products (including quotes) combined with the facility to purchase insurance online through their partners, thus empowering the customer to make an informed data-driven decision. Policybazaar.com has over 20 Insurance Companies and brokers as partners and has a 24x7 call centre to assist the users for any Insurance need through their Insurance Experts sitting out of their office in Gurgaon, Haryana.

The company's "Insurance Compare Kiya?" tagline is to encourage target customers to compare insurance prices and products before they make any insurance decisions. Policybazaar.com strives to empower the Customer through providing accurate and complete information on Insurance Products combined with the Solution-Focused Customer Service. This facility enables the company to provide sustainable value for its customers, Insurers and shareholders.


CONTACT DETAILS
Varun Chopra, Sampark Public Relations Pvt. Ltd., +91 9811241427, varun@sampark.com
Harsh Sinha, Sampark Public Relations Pvt. Ltd., +91 9971855115, harsh@sampark.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, IT, TECHNOLOGY

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