Life Insurance is a powerful tool to cover your unforeseen risks that can affect your family in your absence. It also works as a saving instrument which can help you in planning for your children’s education, daughter’s marriage, pension, retirement benefits or for any defined goal.
As individuals it is inherent to differ. Each individual’s insurance needs and requirements are different from that of the others. LIC’s Insurance Plans designed to meet all individuals requirements when taken in combination of plans
Life Insurance generally provides financial coverage to specified beneficiaries upon the death of the insured individual. It involves a contract providing for payment of an assured sum of money to the person insured.
LIC has been established by an act of the Parliament and started functioning from 1/9/1956.
TAX SAVING :
Premium paid in that financial year towards all life insurance come with Tax rebate under Sec 80C and in case of Health insurance under sec 80D.