All You Need To Know About The Best LIC Policy

st have seen so many ads and online sites coming up with good LIC plans that offer great returns. These days, investing in such plan has become quite important looking at the increasing risk in which a person is living up these days. So, whether it is from saving point of view or to safeguard the family, every person looks for the best LIC policy that is value for money. Unfortunately not everyone gets success in choosing the right place possibly because of lack of knowledge about the same. That is why here are some important things that you might want to know.

Know More About LIC Term Insurance Plan:
Such type of policy is one of the traditional insurance plans in which the life of the insured person is covered to a certain extent. The coverage includes the scenario such as unfortunate accident that causes death of the insured person. This means if the person dies in the policy period, the amount for which he was insured will be directly given to the person whom he considered as the nominee or to family after him depending upon the name mentioned in the contract. No doubt that there are different types of LIC plans to come across and as compared to other place, term insurance is the cheapest one.

Know More About Term Insurance Plan:
Moving on to the common scheme of LIC policy is the term insurance. It is another word given for the protection plan which is specially designed for the family protection. In this after the death of the insured person, the amount till which he was insured will be given to the family for the unforeseen situations. There are three types of term insurance which is level benefit, increasing benefit and decreasing benefit. The bread earner must choose such type of plan who has some serious health issues.

Types Of LIC Term Plan Benefits:
In case if there is any kind of misshaping or accident that takes place, then the company from whom such policy was purchased will have to pay the entire amount to the nominee. The policy holder will not be able to avail the benefits till the end of this policy term but can renew it by paying the premium to continue availing the benefits. Talking of which, there are two ways to avail the benefit. One is death benefit and other is income tax benefit.

• Death Benefit:

Under death benefit, if the death of the insured person takes place within the policy period then the amount assured is given to the family member or the person to whom the insured person has kept as a nominee. For first year, the nominee will not have to pay any kinds of benefits.

• Income Tax Benefit:

Under this type of benefit, after the death of the person, the nominee will be given tax benefit up to 1,00,000/-.

Know Different Plans:
LIC offers different term plans such as LIC New Jeevan Mangal, Bhagya Lakshmi, LIC e-Term, Anmol Jeevan – II, and Amulya Jeevan – II depending upon your capability you can choose the plan and premium for the same.
The above things are definitely helpful for those people who want to make their investment worth for their family after they pass away. However, if you are still unsure about it then you can meet an LIC agent who can explain you every part of it clearly. Besides, such experts hold years of experience and a great knowledge by which they can explain you the right source to go ahead with a good deal. So, what are you waiting for? Choose the best LIC term policy that can safeguard your family in long run without any risk of loss.

Find out about the best online LIC plans for a better future

Online plans of LIC is a professionally authorized and qualified LIC agent that have been into the service for more than 7 years by providing services to the local clients in Delhi region. LIC promises to provide services to their trusted customers for many years in bets way possible. Their services include sustaining financial status even when a person has retired. They are at the customer’s service any time the customers need these services. Online LIC services have more than 250 million people in their family. The responsibility of their service is to protect these people against any kind of injustice and provide them a much secured life even after their retirements. There is some of the Best LIC policy which is provided to such people on a monthly basis.

Professional and personal help
The journey of LIC is that of trust and security. The journey started quite consciously 5 years back and has not looked back since then. Insurance is not just a business for them; it is a part of the lives of millions of people who are involved with them in every step. They promise to provide the Best LIC policy to their customers and help them with the struggle they have to carry on in their lives.

Jeevan Tarun
The project of LIC named Jeevan Tarun is a non-linked premium which is of participatory nature providing payment plan and offers some attractive combination of saving and protection features for children of different age groups. LIC child plan is an attractive plan which has been organized keeping in mind the benefits of all children involved. The plan has been specially designed and organized to meet the specific needs such as educational and other needs of growing child through a survival benefit payment on an annual basis right from the age of 20 to the age of 24 years. There is a maturity benefit as well at the age of 25. The plan is quite flexible in comparison to other plans. At the proposal stage, there is an option for the proposer to choose the survival benefit proposition that is to be availed during the policy term.

Survival benefit
There is a survival befit included in the LIC child planIt is a percentage of the annual payment of the assured sum provided every year. This starts from policy anniversary which often coincides with the 20 years completion and then on every 4 policy anniversaries following a maturity benefits which is a fixed percentage of the assured sum. This is vested with simple reversionary bonuses and other additional bonuses on the maturity of the plan. There are many options provided and the option which has been chosen shall be a part of the policy contract and no changes can be made further.

Other benefits of the plan
There are other benefits of the plan which has been provided along with and must be taken into account while going through the plan. This has been considered as the Best LIC policy till date which provides benefits to all the children involved with. This plan also takes care of the liquidity needs with the help of the loan facility that it provides. The plan can be taken by the grandparents or any of the parents of the child till the age 12 years.

Death benefit
In case of any unfortunate event such as death occurring during the term of the policy, death benefit shall be provided which has been defined as a sum which has been assured on death. Thus, Online LIC India comes up with such great plan and encourages its customers to hold the bond for the lifetime.