What Makes LIC an Exceptional Insurance Player?

If we talk about insurance providers in the Indian market, then LIC has already won the game. The LIC

of India is one of the most trusted insurance firm that provides a wide range of insurance policies to meet

the needs of the insurance seekers.

The policies offered by LIC are economical as well as provide a various benefit to the buyers. Moreover,

as an excellent service provider, the company celebrates its buoyancy with a claim settlement ratio of

98.9%.

One of the major reason, that makes LIC the most preferred insurance providers is because of its customer

centric approach and wide range of policies offered by the company. Along with higher returns, some of

the additional benefits offered by LIC plans are.

Secures Your Family Protection-

Having a LIC life Insurance plan provides a financial protection to the loved ones of the insured. So that

in case of demise of the insured, the dependents can lead a decent life economically. A whole life

insurance plan provides lifelong coverage to the customers and flexibility of maturity payout.

Tax-Benefit

The premium paid under LIC life Insurance is exempt to tax deduction under section 80C of Income Tax

Act. Also the maturity amount is tax free under section 10(10D) of Income Tax Act. LIC Life Insurance

is widely used by financial advisers to reduce your tax burden.

Customers have Choice to Choose Between Different Plans

The buyers can choose between the term insurance plans and whole life insurance plans according to

their own choice. Term insurance is a pure life insurance that provides security to the family for a specific

period of time where as a whole Life Insurance Plan provides whole life coverage to the insured. These

plans provide death benefits as well as investment value that is built during the tenure of the policy.

Flexibility in Coverage-

Life Insurance provides coverage to the insured till the time the insured have enough funds to secure the

future of the dependent. According to your suitability you can choose LIC Life Insurance for 5, 10, 15 or

20 years. The flexibility in your coverage also depends on your age. Moreover, depending on your needs

pone can also go for LIC money back policy, endowment policy, ULIP Plans, etc.

LIC Life Insurance plans are one of the best investment that can be made by any individual. The life

insurance plans not only provide financial protection to you and your family but also provides you an

opportunity to save until you survive the policy. To avail the best plan that suits your needs it is important

to compare the policies and check on the different aspects before zeroing in on a policy. LIC Plans works

the best and provides high returns only for insurers who demands more than a protection out of their life

insurance plans.

It is for sure that having a life insurance policy is a must for every individual. Among the different companies that offer the life insurance policies, undoubtedly LIC insurance plan comes on top. You can check online about the different policies offered by the LIC life insurance company of India and choose the most valid policy according to your suitability.