Life Insurance Corporation of India (LIC) - the country’s leading insurance provider in terms of market value - has a few unit-linked insurance plans on offer for its vast customer base. These plans provide the benefit of insurance cover and investment at the same time, all for a few simple premiums. Here’s how ULIPs work - the policyholder pays their premium for a cover of their choice. Part of the premium paid goes into providing insurance cover, while the remaining amount will be invested in a variety of funds. These funds range from debt instruments to equity markets, and the investment is made depending on the policyholder's’ risk appetite.
Founded in 1956, LIC is the most trusted insurance company in India with an asset value of over $300 billion. The ULIPs offered by the company carefully take into account the market conditions and also the financial requirements of a prospective applicant to offer them a customised plan. These plans serve the main aim of providing a large corpus to a family in case the person insured meets with an untimely death.
At present, LIC offers only one unit-linked insurance plan, which is as follows:
The New Endowment Plus Plan is a unit-linked, non-participating policy, which offers a number of key benefits to the policyholders.
Features and benefits of LIC’s New Endowment Plus Plan:
Besides the fact that LIC is the oldest insurer the country, there are several reasons why you should buy the unit-linked plans offered by the company. Here’s a few of them mentioned below:
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