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.
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.
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.
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:
- Income Tax Benefit:
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.
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.
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