Term Plan By LIC

The unpredictability of life can be both challenging and rewarding at the same time. You can expect new hurdles and challenges on the way while living to your maximum potential. However, there can be a few instances from which there is no coming back. The death of a family member is one such instance. And if he or she is the bread earner of the family things can only get worse.

As is the case with any other challenges you can prepare for this as well. Buying protection for your life is one of the easiest ways of handling this challenge. The term plan by LIC can be your perfect companion in such cases.

Why Buy Term Plan By LIC?

By definition, a term plan provides cover against the untimely death of an individual. And it does so at relatively lower premiums. The death of the bread earner of the family can not only set the family back emotionally but also financially.

The term plan by LIC ensures that even in your absence, your loved ones can continue with the lifestyle that you always wanted them to have. If a person holds a term insurance plan and the policyholder passes away while the policy is active, the insurer will pay the sum insured to the nominees mentioned in the policy. On the other hand, if the policyholder survives the duration of the policy, there are not benefits to have had.

Here are some of the benefits and prominent reasons why you should opt for a term plan by LIC.

• A term plan offers financial assistance to your loved ones in your absence.
• You need to pay a minimal premium to get the considerably higher sum assured on offer.
• A term plan is very affordable makes it a good addition to your financial portfolio.
• The plan does not invest your money into any savings or investment schemes, thus allowing for maximum sum assured.
• As a rule of thumb, a term plan can provide you with a cover of approximately 20 times your annual income by merely paying 2-3% of your annual income as the annual premium.
• Since you have the ability to buy these policies online, you can save a lot of time and money on them as well.

Term Plan by LIC

Life Insurance Corporation of India is without any doubts, one of the leading names in the insurance space. And it should not come as a surprise that the insurer has more than a few term plans up its sleeves.

LIC Tech Term

This is a purely online term insurance policy. The plan offers sum insured to the family of the policyholder in the unfortunate event of the death of the policyholder.

LIC Jeevan Amar Plan

LIC’s Jeevan Amar is another pure protection insurance plan that offers additional features. For starters, you can either opt for a level sum assured (a fixed sum assured) or an increasing sum assured (the sum assured increases at regular intervals).

The plan also has preferential premium prices for people who do not smoke as well as female policyholders. The list of features extends to the premium payment options as well as policy payouts.

LIC Anmol Jeevan Plan

Anmol Jeevan is another term plan by LIC. In the unfortunate event of the death of the policyholder, LIC will pay the sum assured to the nominees. And there are no maturity benefits, should the policyholder survive the term.

Opting for a term plan by LIC is one of the smartest ways of securing the future of your loved ones and ensuring that they are never under any financial stress.

I am Tanuja Koshy working with one of the leading online insurance aggregators as a General Manager. I manage and drive online investments, short term and long term insurance like home insurance, travel insurance, health insurance, term insurance.