New Delhi: State-owned Life Insurance Corporation of India (LIC) is engaging with key financial regulators, including the Reserve Bank and Sebi, to expand the availability of long-term investment instruments as inflows into its annuity products keep on rising, CEO and MD R Doraiswamy said.
An Annuity product converts an accumulated retirement corpus into a guaranteed, lifelong stream of income. When one invests a lump sum, LIC pays a regular pension for life, ensuring the savings aren't outlived.
