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 Why is LIC the best for life insurance?

Why is LIC the best for life insurance?

LIC is one of the most trusted insurance companies in India. The company was established in 1956, right after the parliament nationalized the insurance industry. The company so far has around 290 million policyholders.

The best life insurance policies

LIC provides many types of insurance policies to their customers according to their requirements. There are types of term insurance plans, life insurance plans, child plans, endowment plans, pension plans, etc. We have listed out a few top policies from different sectors.

  1. LIC’s Jeevan Pragati: This is the best LIC policyfor retirement, along with a cover against any accidents. This plan is an endowment plan of 12-20 term years, with profits as a saving and protection plan.
  2. LIC’s New children’s money-back policy: This is the bestLIC money back policy for your children. With a term of 25 years from the age of entry, the plan assures the insured with a minimum amount of 1L.
  3. LIC’s New Endowment Plan: Endowment plan is a non-linked plan that gives the policyholder an option to choose the sum assured and the premium payment.

Benefits of LIC policies

It is almost 64 years since the company got established. The company has been working to keep up the trust of its customers with numerous recognitions and awards. The company has won many named awards for their work and trust-worthiness.

The company has the most convenient claim procedures, along with excellent customer service. The company provided 100% grievances settlement in 2015-16.

The insurance procedures have been made easier. The customers can buy their LIC policy online or get an SMS with the complete details about any policy.

Conclusion

There are many plans provided by the company, which are best in their own ways. You can buy LIC plan after enquiring about the policies.