RIYADH, 15 August 2003 — Two major tailor-made insurance products to suit the needs of the Indian expatriates called “Professional Education Plan” and “Participating Endowment Plan” have been launched by the LIC International in Saudi Arabia through its local agent Al-Hamidi Contracting Est. here.
These two insurance plans fulfill the persistent desire of a large number of non-resident Indians seeking financial security in this new era of competition and challenges.
“The Professional Education Plan (PEP) ensures availability of funds for the education of children whereas Participating Endowment Plan (PEN) provides financial security to a family in unforeseen circumstances”, said S.M.I. Hassan, LIC chief organizer for Saudi Arabia’s operations. Hassan was speaking to Arab News on the occasion of the 56th anniversary of India Independence Day. He also congratulated his fellow Indians on this occasion.
Referring to the salient features of PEP, Hassan said that the LIC has launched this Professional Education Plan to help children in their career development. “You can select a policy for your child ranging from $5,000 to $50,000 keeping in view the money required at the given point of time to finance the career development of your children”, said the LIC chief.
— M. Ghazanfar Ali Khan