LIC India Online

Drop us a line

 Benefits of LIC Life Insurance Plans

Benefits of LIC Life Insurance Plans

LIC envisions the needs of your insurance and makes arrangements that best suit you. The dual insurance and savings value, integrated with financial assistance, keeps you protected for life.

There are numerous benefits of buying LIC Life Insurance plans as follows:

  1. Industry Pioneer – LIC is an innovative organization with a dominant presence across the insurance industry. LIC offers customized plans and is an effective administrator. LIC insurance plans have been acknowledged and rewarded with Golden Peacock Awards, Brand Icon, and India’s Most Trusted Brand, among others, for their guaranteed benefits.
  2. Wealth Creation & Management – It allows you to invest money in an organized way with profitable returns payable on maturity. It has propagated the idea of savings plans on a larger scale.
  3. A variety of plans – LIC provides different plans for different uses depending on the requirement that offers social and financial benefits to the policyholder and the family. From endowment plants to money back schemes, it is intended to guarantee the policyholders’ greatest advantage.
  4. High-Risk Coverage and 100% Settlement – LIC Insurance plans are outstanding and provide 100% complaints settlements in the business. LIC is known for its effective, efficient customer support processes. A simple claim procedure helps in settling claims issues. A higher premium provides higher benefits and higher risk coverage for financial security.
  5. Emergency Aid – Under the emergency of medical illness, LIC insurance policies take care of critical illness treatment and medical expenses in lieu of emergency aid.
  6. Simplified Process Oriented – LIC Insurance plans are based on simple case methodology and provide the most elevated Claim Settlement Ratio level across the business with unrivaled client service. The use of technology with SMS alerts and availabilities of policies online simplifies cycles and makes life simple for policyholders.
  7. Loan Availability and Benefits – LIC Insurance policies offer the loan facility against most of their plans and help policyholders in need.
  8. Tax Benefits: Most of the LIC plans allows premiums as income tax-deductible under section 80c of the Income Tax Act, 1961.