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Tag: Health Insurance

Why You Should Invest In LIC

Life Insurance Corporation or LIC is the largest and most trustworthy investment policy.  Having great diversity and worth is what makes it gain the confidence of every individual who has invested in it. What makes it the best is that it understands the need of its investors and offers the appropriate policies that cater to that need. Here is why LIC should be the first choice.

LIC policy

LIC Is A Government Backed Policy

LIC was the oldest life insurance policy to be introduced in India. Therefore it gained a lot of trust from the nation making it a government-backed policy. The market of today faces a huge economic reform. In such a scenario a government-backed organisation will be in a more advantageous position than any private insurance company because it will provide better security and cover.

Flexible Organisation

Since it was first introduced LIC has been one of the most flexible life insurance companies. It recognises the demands or various investors based on their role and net-worth. Thus it has framed various different insurance plans according to the needs of its customers. These policies are not very expensive and offer a variety of benefits alongside.

Benefits Provided By Various Plans

LIC has 4 diverse insurance plans that cater to different needs:

  • New Endowment Plan
  • Money Back Plan
  • Jeevan Anand Plan
  • Jeevan Saral Plan

New Endowment Plan provides a strong financial security as it gives very high returns. On the death of the individual insured, the amount returned is 10 times the principal invested. Also, policy assures regular dividends on the principal sum.

Money Back Plan allows the customers to share in the profits of LIC and returns accordingly. A survival benefit is available which pays back 20% of the assured return at the end of 5, 10 and 15 years of investment.

Jeevan Anand Plan is a high return policy and offers a large reversionary amount (amount paid in case of death of the individual invested). Also, it provides risk benefits in case of accidental death of the insured person. Thus it acts like an endowment and life insurance.

Jeevan Saral Plan is like a premium endowment fund with very high returns. A monthly amount is to be invested into this scheme and the reversionary bonus is 250 times the monthly premium. Also, it is a flexible policy which an investor can back out from partially after 3 years. This plan also offers accidental death benefits along with the matured premium amount.

5 Reasons Why You Should Invest In An Insurance

The future is unsure and the prospect of untoward incidents are many. A practical approach in dealing with life suggests that you should always be prepared for a scenario where a negative event may occur. That preparation is what Insurance is all about. Investing in it may not always alter the negative event, but it will sure help you deal with the unwanted scenario in the best possible manner. So, it is a remedy to the unwanted problems in life.

insurance

Provides Aid To Families In An Event Of Death

Life Insurance is perhaps the most important investment a person should make. In society, an individual is not alone. The dependency of one person on another is how the cycle works.  So the absence of an individual who was relied upon brings not only an immense wave of sadness but also a sense of helplessness. And that is where a Life Insurance helps. In the event of death, whether timely or untimely, if a person has the coverage of Life Insurance, it is what protect’s their family and aids them financially in fighting difficult times. Sometimes in event of death of the sole breadwinner of the family, a Life Insurance is what keeps the other members financially protected. Thus, we see why it is of utmost importance.

Makes Sure That You Can Book A Travel Without Worries

Another Insurance where investment should be made is Travel Insurance. Every one likes to treat themselves with a luxurious vacation. Flights are lengthy and costly, stays are expensive and all related expenses are equally high-priced. In case of sudden cancellation, the losses to be borne are too high, if all of this is not protected by Travel Insurances. For a person belonging to the middle-class on a financial basis, it is difficult to bear such losses in the absence of an Insurance as many cost cuttings need to be done henceforth.

Keeps Your Residential Property Ownership Stable

Real Estate is perhaps the most expensive asset in the market of today. If a person is lucky enough to purchase a residential area, under their own name, they should keep it safe. Investing in Home Insurance will help you financially in case of any loss pertaining to your resident. Thus it is another important Insurance that should be considered as soon as a property is bought under one’s name.

Ensures Stability In Personal And Professional Life

Insurances keeps our personal as well as monetary assets protected. Thus in case of any mishaps it helps retain stability. The important things about investing in an Insurance is that we have options aplenty to keep all our properties safe. Apart from the standard Insurance policies, we can also insure our other business and personal assets. So, stay insured to stay stable.

Helps Maintain Peace Of Mind

Nothing gives us greater peace of mind that to know that we are prepared for the future. Investing in insurances give us just that. Knowing that we will be aided while dealing with every unhappy and uncalled for event in our lives, we can remain stress free.