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Life Insurance

Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.

Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.

Services

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Child Protection Plan

Children Plans from L.I.C. provide safeguard and planned savings for the future of your children with respect to funding their upbringing, education, career, marriage, etc. Numbers of options are available to satisfy and match your goals for your children.

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Retirement Plans

Plan now for a great and independent retired life. Choose from Immediate and deferred annuity plans to suit your retirement needs.

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Endowment plan

Endowment plan is term insurance policy with maturity benefits. In case of demise of policyholder, the Sum Assured along with accrued bonuses (if any) is paid to the beneficiary. On survival of policyholder, the same is paid on the maturity date.

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Money black Plan

A bunch of perfect plans offered by LIC to meet the insurance needs and the period financial needs of an Individual. The plans provide cash inflow at a predefined intervals.

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Pure Protection Plan

Pure Protection Plans are specially designed to offer only Life Cover at a very low premium. There are short term plans, long term plans and convertible plans in this category.

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Special Plans

A collection of non-conventional plans designed for catering to special needs of the individuals.

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Health Insurance plan

Health plans from LIC give you the financial security to meet health related contingencies.

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ULIP Plan

Ulip plans are investment plans for those who realise the worth of hard-earned money. These plans help you see your savings yield rich benefits and help you save tax even if you don't have consistent income.

LIC ENDOWMENT PLANS

LIC MONEY BACK PLANS

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