LIC IPO - Are new policyholders eligible?

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Friends – I am planning to participate in LIC IPO. In order to maximize chances of allotment, may plan to take up a policy that is cheapest and linked to equity markets. My questions -

1. Is it possible to be eligible as policy holder, if I buy a new policy now?

2. Which is the cheapest plan which is more of an investment rather than insurance?

Thanks

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LIC has not filed RHP, so I think u might be eligible till RHP filing date…Please check with other sources.

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