Difference between LIC Insurance and Bank Deposit

Difference between LIC Insurance and Bank Deposit

Difference between LIC Insurance and Bank Deposit

Difference between LIC Insurance and Bank Deposit

Difference between LIC Insurance and Bank Deposit

Sl No.Bank DepositsLIC
1.You have to pay tax on your investment and the return.

You get tax exemption both on the investment and the return.

2.No Insurance Cover.

Insurance Cover starts just after the first installment paid.

3.Investment is Not Guaranteed by Government of India.

Investment is Guaranteed by Government of India.

4.Variable Interest rate. Interest rates are falling.

The fixed interest rate for the Lifetime.

5.All the age group has to pay same for some specific maturity

Youth pay less compared to old.

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