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LIC Launches Jeevan Azad Policy : LIC Jeevan Azad Plan -Life Insurance Corporation of India Introduced a New Plan / Policy Lic’s Jeevan Azad Policy. This is a Non-participating, Individual, Savings Life Insurance Plan Which Offers a Combination of Protection OR Savings. This is a Limited Premium PAY Endowment Plan Providing Financial Support for the Family in Case of Unfortunate Death of the Life Assured During the Policy Term & Also Takes Care of Liquidity Needs Through Loan Facility. It Also Provides 100% Guaranteed Lump-sum Pay Amount to the Surviving Life Assured on the Date of Maturity.