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How much LIC will I get after maturity?
Maturity Benefit: In case the life assured makes it through the policy maturity date, 40% of the actual sum assured will be paid to the insured. This will accompany the vested Simple Reversionary Bonuses and Final Additional Bonus (if any).
What is meant by LIC policy?
A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured’s death. Typically, life insurance is chosen based on the needs and goals of the owner.
What is the benefit of LIC policy?
Maturity Benefit :
This is a whole of life assurance plan and hence does not have a maturity date. You, however, have the option to take the Sum Assured plus all bonuses declared under the policy anytime after 40 years from the date of commencement of the policy provided you have attained, at least, 80 years of age.
Is LIC a good option?Insurance policies are best investment option for protection and investment. … Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.
