Basic Features & Benefits of LIC Term Plans
- The oldest and the most trustworthy insurer in India in the public sector
- Flexible options in insurance pertaining to term, cover amount and premium payment
- Customers can buy selected plans online in the comfort of their homes
- Customers can avail of certain tax benefits under relevant sections of the IT Act, 1961
- Some plans can be converted to other plans offered by LIC
Why choose LIC Term Insurance Plan?
There are many reasons why LIC is a good choice for term insurance policies. These reasons are:
- It has the best claims settlement ratio of over 98%. This means that it successfully settle 98% of the claims that they get.
- It has out-performed all its competitors from the private sector, especially in terms of claims settlement.
- It has insurance plans that can be bought online. This means that easier to ensure that you are covered.
LIC Term Plans FAQs:
1. Q. What are the various types of LIC Term Plans?
A. The two types of term plans are LIC Amulya Jeevan – II, LIC Anmol Jeevan – II.
2. Q. What are the various benefits available under the plans from LIC?
A. Each term plan from LIC has differing death benefits and add-on benefits as per the riders chosen, but the basic benefits allow a pay-out of sum assured in a lump sum amount.
3. Q. What is the minimum sum assured for LIC Term Plans?
A. The minimum sum assured for LIC term plans are from LIC is INR 5,00,000.
4. Q. What is the maximum and minimum policy term available under these plans?
A. LIC term plans have a minimum policy term of 5 years and a maximum term of 35 years, subject to the entry age and the maturity age of the life insured.
For more details please contact: +91 9551640358