Which is best LIC policy for one time premium?

LIC’s Jeevan Amar:

• The LIC Jeevan Amar plan comes with 2 benefit options: Increasing Sum Assured and Level Sum Assured.
• It is flexible plan which offers the insured to choose from Single Premium Payment, Limited Premium Payment, and Regular Premium Payment.
• It allows the insured to choose the term of the policy.

Is LIC policy a good investment?

Benefits of purchasing LIC Policy Government-owned – LIC comes with the sovereign guarantee of the Indian government, which makes its offerings a safe and reliable investment. Tax Benefits – Policyholders can enjoy tax deductions on the premium amount under Section 80C of the Income Tax Act, 1961.

Is LIC return guaranteed?

Mumbai: Life insurance giant Life Insurance Corporation (LIC) on Tuesday launched a long-term endowment policy Jeevan Umang, that covers up to 100 years and offering a combination of income and protection including an assured 8% annual return.

How do LIC agents make money?

LIC agents’ earning depends on the commission which is paid by LIC, more premium paid by the people implies more will be the agent’s commission. Top performers in LIC are earning nearly 3 to 4 Crores per year. New Delhi: Life Insurance Corporation is India’s only public sector life insurance company.

Is LIC better than mutual funds?

Life insurance is less risky in comparison to mutual funds. However, it offers guaranteed death benefits. Mutual funds are market-linked investments, and hence are highly volatile. LIC schemes offer low returns.

Is LIC policy waste of money?

Myth 1: Life Insurance Is a Waste Of Money Life insurance is an investment that is more of a safety mechanism; it is to provide financial security to the dependants. Term policies that cover the risk of untimely death are cheap and most ideal for providing life coverage.

What is the cheapest LIC policy?

Not only LIC of India’s new term plan Jeevan Amar is much cheaper than its just withdrawn Amulya Jeevan Plan, but it is also more flexible and has much wider features. The premium amount of LIC’s Jeevan Amar Plan will be different for male and female as well as for smokers and non-smokers.

Which LIC policy is best for 50 year old woman?

The LIC New Jeevan Anand is another best-suited plan for women. Talking about the Jeevan series of LIC, this plan combines both savings and protection and makes it a preferred choice. The plan offers financial protection against demise and offers a lump sum payment option at maturity.

Can I buy LIC without agent?

Can I buy LIC without an agent? A. An agent’s commission is included in your premium in an insurance policy sold through an agent. At the same time, buying insurance from the LIC website directly, you can buy LIC policy online without an agent as well as without added commission of the agent.

Can I change my LIC agent?

There is no need and no provision to change your LIC agent, as there is no contract between you and an LIC agent. As far as a policyholder is concerned, the contract is with insurance company. The agent is just a facilitator.

Can I open LIC policy without agent?

Which is better sip or LIC?

Unit-linked insurance plans can also be considered as they provide insurance with a mutual fund like investment avenue. If, however, they want to invest in mutual funds, SIPs are the best way to go about it. They can choose affordable amounts to invest every month and steadily create good corpus.