Insurance plans are another way of making money. It helps the proposer to insurance, invest, save tax and get tax free returns at the end. Insurance policy is designed in such a way that it suits the occasion and requirement. Let it be childbirth, children education, higher education, marriage plans there is a plan to match the requirement at all stages.
Most of the Insurance plans are returns based as Term plans are not very popular in India like in western countries. In India Term plans are very cheap and are considered by frequent flyers and HNIs only.
LIC new plans are available now :
- Endowment Plans
- Whole Life Plan
- Money-Back Plans
- Single-Premium Plans
- Term Plans
- Pension /Annuity Plans
- Health Plans
- Children Plans
Endowment Plans
These plans are very simple in nature fulfilling basic needs. Available for all ages. Depending upon the requirement the proposer has to choose. Riders can be added like Double Accident cover, Term rider benefits etc.,
Children plans
Children education is a must for the future of the country. Child plans are planned to give benefits when they become 18 years of age. Once the child becomes major, an Bank account has to be opened and then LIC of India start transferring the benefits to the child which can be utilised for further education, marriage purpose etc.,
Whole Life Plans
As the word describes these kinds of policies cover the policyholder for the whole life. Plans like LIC Jeevan Anand, LIC Jeevan Umang plans to continue till life ends. These plans pay lumpsum then life cover and Pension would continue. These plans insurance life and pay lump-sum to the nominee on death at the end.
Money-Back Plans
Money-Back plans give back cash benefits at every 5 years gap. This plan is very useful for everyone as the money invested would be blocked for a long time. As cashback is set by the insurer for every 5 years, parents can plan for their child's education, any foreseen expenses etc.,
Health Insurance plans
Health is Wealth. This is known to everyone but in recent years this has become a mantra for everyone. More than Life Insurance, Health Insurance had become very essential. A person can live without life cover but not without medical cover. The cost of very affordable and available all over the world
Single premium plans
One time premium plans are very popular among parents and businessmen. Parents can plan for their child's education, higher education and marriage with single premium plans. Businessmen, whenever got funds can invest.
Pension/ Annuity plans
LIC pension plans are the best in the industry. Annuity plans require consistency which no one can guarantee at the current stage. LIC plans like Jeevan Shanti gives insurance cover along with monthly interest payments. This plan is very popular among pensioners.
Term Insurance
Term Insurance plans have become very popular after the Information Technology boom all over the world. The best way to buy Life insurance cover is Term Insurance plans. Pure life insurance cover with the best pricing had made this plan favourable among salaried and businessmen.
For any Life Insurance plan details, call us now.
