LIC-Life Insurance Corporation Of India

LIC-Life Insurance Corporation Of India

LIC-Life Insurance Corporation Of India started in 1956 with initial funding of Rs.5cr. LIC Having 2048 Branch offices and 1245 mini offices. Branches and offices spread across all over India. LIC has employed 1,00,000+ officers to serve its customers. LIC agents are authorized to complete your invest in LIC. LIC conducts regular training to its LIC agents to update their products knowledge.

LIC having around 26 products as of date, LIC of India regularly withdraw few plans and also introducing. Some plans proposed with some modification. Different varieties of plans are

1. Endowment(Risk + Return): Jeevan Anand, New Endowment, Jeevan Lakshaya, Jeevan Labh, Jeevan Pragati, Single premium Endowment, Limited premium Endowment, Jeevan Rakshak, Aadhaar Stambh, Aadhaar Shila. Jeevan Utkarsh.

2. Term Insurance(Only Term):  Anmol Jeevan, Amulya Jeevan.

3. Health Insurance:  Jeevan Arogya, LIC cancer cover.

4. Money Back(Get returns every 4 or 5 years): Money back 25 years, Money back 20 years, Children’s money back, Jeevan Shiromani, Jeevan Umang, New Bima Bachat.

5. HNI Policy(minimum 1 Crore sum assured): Jeevan Shiromani.

6. Pension Plans(Immediate and Deferred Annuity): Jeevan Akshay VI, Jeevan Nidhi Single premium, Jeevan Nidhi regular premium, Prathan Manthiri Vaya Vandana Yojna(8% rate of Intrest)

7. Unit Linked Plans(Invested in Share market).

8. Children Plans: Children’s money back, Jeevan Tarun and Jeevan Lakshya.

How are LIC products better than bank RD and FD?

LIC Provides risk cover in all the plans and also maturity benefits(Maturity benefits or returns not given in term Insurance).

Policy Loan

Policy Surrender

LIC Policy Revival

 

 

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