All Plans Of Life Insurance Corporation of India (LIC)

All Plans Of LIC

Life Insurance Corporation of India (LIC) is a state-owned life insurance company that offers a wide range of insurance products in India.

Some of the insurance plans offered by LIC include:

(1)insurance plans offered by Life Insurance Corporation of India (LIC):

  1. Term insurance plans: These plans provide financial protection to the policyholder’s family in the event of the policyholder’s death.
  2. Endowment plans: These plans provide a combination of financial protection and savings. The policyholder pays premiums for a specified period, and the policy pays out a lump sum to the policyholder or their beneficiaries upon maturity or in the event of the policyholder’s death.
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  1. Money-back plans: These plans provide periodic payouts to the policyholder during the policy term, in addition to a lump sum payment upon maturity or in the event of the policyholder’s death.
  2. Whole life plans: These plans provide financial protection for the entire lifetime of the policyholder.
  3. Universal life plans: These plans provide financial protection and allow the policyholder to save money on a tax-deferred basis.
  4. Child plans: These plans are designed to provide financial protection and support for the education and other needs of a policyholder’s children.
  5. Pension plans: These plans are designed to provide a regular income to the policyholder during their retirement years.
  6. Health insurance plans: These plans provide financial protection in the event of medical emergencies or illnesses(2) insurance plans offered by Life Insurance Corporation of India (LIC):
    1. Group insurance plans: These plans are designed for organizations and provide insurance coverage to groups of people, such as employees of a company.
    2. Credit insurance plans: These plans provide financial protection to lenders in the event that a borrower is unable to repay a loan due to death, disability, or unemployment.
    3. Micro insurance plans: These plans are designed for low-income individuals and provide insurance coverage at affordable premiums.
    4. Annuity plans: These plans provide a regular income to the policyholder for a specified period of time or for the remainder of their life.
    5. Single premium plans: These plans allow the policyholder to pay the entire premium for the policy in a single payment.
    6. Unit-linked insurance plans (ULIPs): These plans combine the features of insurance and investment, allowing the policyholder to allocate their premiums towards investment in specific funds.Here are a few more insurance plans offered by Life Insurance Corporation of India (LIC):
      1. Special plans: These plans are designed to provide financial protection and support for specific purposes, such as marriage, higher education, and business expansion.
      2. Rural insurance plans: These plans are designed to provide insurance coverage to individuals living in rural areas of India.
      3. Guaranteed benefit plans: These plans provide guaranteed payouts to the policyholder or their beneficiaries at specific intervals or upon the policyholder’s death.
      4. Traditional plans: These plans are traditional life insurance plans that provide financial protection and may also include savings components.
      5. ULIPs with profit: These unit-linked insurance plans (ULIPs) provide financial protection and allow the policyholder to allocate their premiums towards investment in specific funds. The policy includes a profit component, which means that the policyholder may receive additional payouts based on the performance of the invested funds.

        (3) insurance plans offered by Life Insurance Corporation of India (LIC):

        1. Market-linked plans: These plans are unit-linked insurance plans (ULIPs) that provide financial protection and allow the policyholder to allocate their premiums towards investment in specific funds. The value of the policy is linked to the performance of the invested funds, which means that the policy’s value may fluctuate based on market conditions.
        2. ULIPs with return of premium: These unit-linked insurance plans (ULIPs) provide financial protection and allow the policyholder to allocate their premiums towards investment in specific funds. If the policyholder survives the policy term, they may receive a return of all or a portion of their premiums upon maturity.
        3. Investment-linked plans: These plans are similar to unit-linked insurance plans (ULIPs) in that they provide financial protection and allow the policyholder to allocate their premiums towards investment in specific funds. The policy’s value is linked to the performance of the invested funds, and the policy may also include additional benefits such as a death benefit and maturity benefit.

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