LIC regular plans are also called as Endowment insurance plans.
LIC regular plans are also called as Endowment insurance plans. These plans are simple in nature, offer best returns.
LIC Life Insurance gives dual benefit life insurance with the concept of savings. Regular LIC policies, unlike pure term Insurance, provide death and maturity benefits and many other benefits according to the Plan formulation. All LIC policies comes with surrender values after certain number of years. LIC policies comes with Normal cover and Double Accident Cover( DAB).
LIC Life Insurance plan starts with minimum Rs. 1,00,000/- sum assured except one or two plans and the insurance cover starts from day one, in some cases based on the approval of the insurance underwriters. special riders can be added to all plans to enhance the cover and benefits of the policy like term rider, disability rider, Critical Illness etc., These riders give extra benefits to the policy holder by paying extra premium as per the under writing approval.
Every plan from LIC of India focuses some responsibilities in life.
An Regular Plan allows you to save regularly, invest systematically, receives a lump sum maturity amount and a periodic payout – all this while enjoying a life cover.
An Regular Plan is designed to pay back a lump sum amount after a specified term or on death of the policyholder. It provides a living benefit to the policyholder as periodic payouts along with insurance coverage.
It pays back the face value to the insured either at death or after certain years of the premium payment.
In addition to the basic benefits discussed above, an insurance company also provides additional benefits like double endowment and education or marriage endowment plans. An endowment plan allows the policyholder to add riders for critical illnesses, major surgical assistance, etc.
If you are looking for a policy, which gives you more than just pure life cover, an Endowment Plan is the most appropriate option. Entitling the policyholder to triple benefits of savings, wealth creation, and insurance coverage, it is a right policy for the people of any age group and saving capacity.
This is a one-stop servicing solution for all your LIC insurance policies. We are happy to answer any insurance-related query you may have on your existing or new insurance plans. Reach out to us and we will get back to you at the earliest.
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