LIC Life Insurance Policy

Life Insurance Corporation of India (LIC): Life Insurance Company providing the best Life Insurance products and services in peoples of India. LIC Life Insurance it gives financial security to the family members and nominee, and complete protection to the policy holder for a specific period of time (as mentioned in contract of bond while purchasing the new policy) with the Maturity Benefits along with bonus and final additional bonus if any, Tax Benefits under Section 80(C) and Section 10 (D). Generally, LIC Policies are inbuilt Accidental Death and Disability Benefit Rider by adding a bit of additional small amount with the premium. Check the: Eligibility, Sum Assured, Policy Benefits, Reviews, & Life Insurance Premium Calculator, and to find the best Life Insurance Plans in India 2018. As an LIC Life Insurance Agent in Chennai, India. PolicyandFunds.com provides best customer services to choose perfect Life Insurance Plans in India.

Various products available in LIC for all age groups like, Endowment Policy, Money Back Policy, Single Premium Investment Policy, Retirement Plans, Investment Plans, Tax saving Plans, ULIP Plans, Child Future Policy, Child Money Back Policy, Regular Premium Money Back Policy, Pension Plans etc., LIC policy holder who is customer or clients with LIC India may contact us for any LIC India Chennai Branch related quires and claim related assistance.

lic India ChennaiLife Insurance Corporation of India (LIC)

What is Life Insurance?

Life Insurance: A map to choose plan flexible to you. The main aim of Life Insurance Policy is more piece of mind, It’s a contract between Life Insurance company and with the policy holder, while purchasing the policy insurer promises to pay regularly towards premium amount some period of years, in between anything suddenly or unexpectedly happens to the insurer or policy holder the whole benefits will go to the beneficiaries, otherwise the insurer can get final maturity and enjoy the whole benefits.

Life Insurance How it works?

Insurer buys a policy from the Life Insurance Company and pays the monthly, or yearly premium on time for some years based on contract, in the unfortunate event of death or even critical illness, the amount of money that is sum assured specified in the policy copy will go the family of the beneficiaries.

There are various types of Life Insurance Policy in India:

  • Term Insurance
  • Whole Life Insurance
  • Endowment Plans (Policy)
  • Money Back Plans (Policy)
  • Unit Linked Insurance Plans (ULIP)

What is  LIC Term insurance?

Term insurance policy it’s a kind of Life Insurance, the main thing of term life insurance is to make sure to your family is 100% protected and also ensures by replacing your regular income to the family if something unexpected happens to you.

Term Life Insurance will provide coverage to the insurer for certain period years as per the contract while purchasing or initially choosing the policy by paying the regular premium without breaking.

LIC Whole Life Plans

Whole life insurance policy it’s a contract between insurer and insurance company. It gives a whole life cover and also maturity benefits.

Example: Under this policy, the insurer will pay the premium for certain years, after that the maturity benefits will be given to the policy holder, but the life cover will be stated for entire life after dies the insurer the actual sum assured will be settled to the nominee by the insurance company.

LIC Endowment Plans

Endowment policy there is two main benefits; one is life cover during the policy years and another benefit is lump sum amount while maturing the policy at end of the policy term. Under this policy insurer can save regularly over a specific period of time or years to achieve their goals.

LIC Money Back Policy

Money Back Policy is an Insurance product as well as an Investment Plan, Portion of the sum assured is paid out at regular intervals, end of the policy term the remaining sum assured and also the maturity benefits (Bonus and Final Addition Bonus) will be given by the Life Insurance Company, and the period of Policy term the insurer stated the life cover. If the policy holder survives the term he gets the balance sum assured and other benefits, in case of death the beneficiary gets the full sum assured with other benefits.

LIC ULIP  Plan (Unit Linked Insurance Plan)

LIC ULIP Plan (Unit Linked Insurance Plan) It is a Life Insurance product, which is a combination of a Life Insurance and a Mutual Fund value of the Investment and it’s captured by the NAV (Net Asset Value).

How to Calculate the Life Insurance cover?

Life Insurance Adviser will assess sources of your income, a number of your dependents, liabilities, your debts, and expenses based on your lifestyle, read the print on the policy carefully and ask the Adviser or Life Insurance Agent to explain to understand the best.

How Much Life Insurance Cover Do I Need?

It’s simply minimum 10-15 times of your gross yearly income which is good to live with the peace of mind, it varies based on your lifestyle some people do the simple lifestyle, expenses and other debts.

Compare Life Insurance Plans (Policy)

There are many Life Insurance Companies in India, In the market they are offering variety of Life Insurance plans, before finalizing the policy check the background of the company mainly how much they have settled benefits and returns to the policy holder as well as claims settlement ratio, and ensure under the product all the sufficient benefits are included such as accident rider, illness rider, disability benefits and death benefits.

Get Contact Details of LIC Agent in Chennai

To select the right Life Insurance policy that suits our premium amount, we need a Life Insurance agent or advisor call 9940056991; for lifelong to get good services as well as perfect information about the products, Get Contact Details of LIC Agent in Chennai.

Required Documents to buy Life Insurance Policy or Plans in India

Keeping in mind the end goal to apply for a Money Back Policy, clients will, for the most part, be required to submit essential documentation, for example, the accompanying:

  • Completely filled Application form/Proposal frame.
  • Photo.
  • Evidence of living arrangement/address verification.
  • Evidence(proof) of age.
  • Medical Reports (just if required).

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