Come to think of it, what will happen if a demise or something which is unpredictable happen? We probably would look for friends and aid in various ways. It never hits one until something happens and you realize how important and insurance policy is. In some point we don’t see the point, why pay and nothing is happening. It feels like a waste of time.
However we can look at it as investment plan, you are saving your funds in a trusted organization and will benefit later in life. Nobody want to wait for tragedy, we don’t want to think of it at all. Nonetheless insurance is not all about bad things happen. Before taking an insurance policy plan get to answer several question.
What the purpose for the policy?
What benefits will come with the policy?
How much will I contribute and will I be comfortable with the amount?
Let’s try to answer this question, what is the purpose of insurance policy? Basically insurance policy is a back plan to help in your financial situation. It give financial protection and will go long way to your family members as beneficiaries.
Insurance also acts as investment plan, this is by getting your funds appreciate on every year. When you get the purpose now you need to learn what the best policy to take. Here where the big and famous insurance company in India comes in. The LIC or life insurance corporation of Indiathis is a trusted Company and has various plans which suit all citizen from all walks of life. They have plans payable monthly, quarterly, half year and full term that in one year. With this individuals can check which payment method works for them.
LIC policy plans
LIC new endowment plan
It is a non-linked plan which is the first and well-known plan offer by the LIC Company. The plan has many followers or investors as it caters for financial matters of the policy holder’s family even before the maturity period. One gets the money in one bulk at the end of investment. It gives loans as the holder can give items and transform them into loans. If a policy holder dies he/she get 105% of the premiums paid and also gets a death fund which will be bonus. The family benefits from the plans as they can continue or just have the benefits.
This a policy which cover policy holder and the family from misfortunes which may occur. This might be sickness and death. You will get the funds support even after the maturity tenure is reached. The LIC Company doesn’t require agents to visit your place. You can apply only and get all the details from their website.
LIC jeevan Anand plan
This is a non-linked plan and has both the investment plan and the protection. It is a bit expensive compared to others. The plan has many plans and covers a lot in one platform. It acts as a life policy plan and covers risks and misfortunes plus taking the investment part of it.
LIC new children money back plan
This plan is also a non-linked policy plan which stands in for education, marriage and all the needs of your children as they grow. They give a risk cover and also acts as an investment plan altogether.
LIC Jeevan Saral
This the only plan which has a link and is so special at the LIC Company. They offer double cash for risks and death policies. The plan is very flexible and covers a lot