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LIC of India

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LIC of India
Highlights
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Inception1956
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore

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LIC of India Plan List

    Name of PlanSum Assured
    LIC Bima Jyoti20 lac - 10 cr Check Premium
    LIC Jeevan Umang20 lac - 10 cr Check Premium
    LIC SIIP20 lac - 10 cr Check Premium
    LIC Jeevan Anand20 lac - 10 cr Check Premium
    LIC Jeevan Labh20 lac - 10 cr Check Premium

    About LIC of India

    Life Insurance Corporation, also shortened as LIC, started operating in September 1956 and is the oldest and one of the largest life insurance providers in the country. Life Insurance Corporation of India provides a wide range of insurance plans such as Term Insurance, Whole Life Insurance, Endowment Plans, and Money Back Plans.

    Some of the key highlights of LIC Life insurance are as follows:

    Parameters

    Details

    Claim Settlement Ratio

    98.74%

    Email ID

    co_cc@licindia.com

    Contact Number

    +91-022 6827 6827

    Registered Address

    Yogakshema Building, Jeevan Bima Marg, Mumbai- 400021



    Benefits of LIC Insurance Plans

    Below are some benefits that one can avail under a LIC life insurance policy:

    • Provide Financial Security: When you choose to purchase a life insurance policy from LIC of India, you can ensure the financial security of your loved ones in your absence. LIC life insurance policy provides financial security to the family of the life assured in case of unforeseen demise of the life assured during the policy tenure.
    • Tax Benefits: One can avail tax benefits by investing in a LIC life insurance policy. Premiums paid for LIC life insurance policies qualify for tax exemptions under Section 80C and 10(10D) of the Income Tax Act, 1961.
    • Hassle-free Claim Settlement: As LIC is a state-run insurance company, settling claims on time without any hassles is the one major thing that the insurance company focuses on. This means that you do not need to worry about the claim not being settled on time. This is the one major advantage of purchasing a LIC life insurance policy.
    • Variety of Life Insurance Plans: LIC of India offers a variety of life insurance plans to choose from. You can choose to purchase a Whole Life, Term, Money Back, Endowment, or ULIP. In short, you can choose a life insurance plan according to your requirements and budget.

    Types of LIC Plans

    Life Insurance Corporation of India provides a wide range of comprehensive life insurance plans. Following are the types of life insurance plans offered by the company:

    1. LIC Term Insurance Plans

    Life Insurance Corporation offers two-term insurance plans i.e. Tech Term and Jeevan Amar. LIC’s Tech Term is pure protection and an online term plan that provides financial protection to the family of the policyholder on the unfortunate demise of the policyholder. On the other hand, the LIC’s Jeevan Amar plan offers life cover and flexibility to choose from two death benefits - Level Sum Assured and Increasing Sum Assured.

    LIC Term Insurance Plans

    Entry Age

    Maturity Age

    Policy Tenure

    LIC New Tech Term Plan

    18- 65 years

    80 years

    10- 40 years

    LIC New Jeevan Amar Plan

    18- 65 years

    80 years

    10- 40 years

    LIC Saral Jeevan Bima Plan

    18- 65 years

    70 years

    5- 40 years

    LIC Jeevan Kiran Plan

    18- 65 years

    80 years

    10- 40 years

    2. LIC ULIP Plans

    LIC ULIP or Unit Linked Insurance plans are a type of life insurance plan that provides the benefit of both insurance and investment. Some of the ULIP plans that LIC offers are LIC Nivesh Plus, LIC SIIP, and more.

    Have a glance at the features of each type of ULIP plan.

    ULIPs

    Entry Age

    Maturity Age

    Minimum Premium (in Rs.)

    LIC Nivesh Plus Plan

    90 days- 70 years

    85 years

    Rs. 1 lakh

    SIIP

    90 days- 65 years

    85 years

    Rs. 40,000 (annually)

    New Endowment Plus

    90 days- 50 years

    60 years

    Rs. 20,000 (annually)

    New Pension Plus

    25 years- 75 years

    85 years

    Rs. 3,000 monthly (Regular premium payment)


    Rs. 1,00,000 (Single premium payment)

    3. LIC Pension Plans

    LIC also offers pension plans or retirement plans to help you lead a stress-free life after retirement. Some of the LIC pension plans are LIC New Jeevan Shanti, LIC Jeevan Akshay - VII, and more.

    LIC Pension Plan

    Entry Age

    Vesting Age

    Minimum Purchase Price

    LIC New Jeevan Shanti Plan

    30- 79 years

    80 years

    Rs. 1.5 lakh

    LIC Jeevan Akshay Plan- VII

    25- 85 years

    -

    Rs. 1 lakh

    LIC Saral Pension Plan

    40- 80 years

    -

    -

    Pradhan Mantri Vaya Vandana Yojana

    60 years- no limit

    -

    Rs. 1.5 lakh (annually)

    4. LIC Endowment Plans

    Life Insurance Corporation offers several endowment plans namely LIC’s Saral Jeevan Bima, LIC’s Bima Jyoti, LIC’s Bachat Plus, LIC’s New Endowment Plan, etc. An endowment life insurance policy combines the advantages of life insurance and savings. In comparison to pure-term insurance, these policies offer both death and maturity benefits. Additionally, many of these LIC policies include surrender values, representing a specific percentage of the premiums paid, as well as paid-up values.

    Some of the top LIC’s Endowment Plans are as follows:

    LIC Endowment Plan

    Entry Age

    Maturity Age

    Sum Assured

    LIC Bima Jyoti Plan

    90 days- 60 years

    70 years

    Rs. 1 lakh

    LIC New Endowment Plan

    8- 55 years

    75 years

    Rs. 1 lakh

    LIC Single Premium Endowment Plan

    90 days- 65 years

    75 years

    Rs. 65,000

    LIC New Jeevan Anand Plan

    18- 50 years

    75 years

    Rs. 1 lakh

    LIC Jeevan Labh Plan

    8- 59 years

    75 years

    Rs. 2 lakh

    LIC Aadhaar Shila Plan

    8- 55 years

    70 years

    Rs. 2 lakh

    LIC Jeevan Lakshya Plan

    18- 50 years

    65 years

    Rs. 1 lakh

    LIC Aadhaar Stambh Plan

    8- 55 years

    70 years

    Rs. 2 lakh

    LIC Dhan Sanchay Plan

    3- 65 years

    75 years

    Rs. 1.25 lakh

    LIC Dhan Varsha Plan

    3- 60 years

    70 years

    Rs. 1.25 lakh

    LIC Jeevan Azaad Plan

    90 days- 65 years

    70 years

    Rs. 2 lakh

    LIC Bima Ratna Plan

    90 days- 65 years

    70 years

    Rs. 5 lakh

    LIC Dhan Vriddhi Plan

    90 days- 65 years

    78 years

    Rs. 1.25 lakh

    5. LIC Whole Life Plans

    LIC of India offers only one whole life plan i.e. LIC’s Jeevan Umang. This plan by LIC offers income and protection. Not only this, but LIC’s Jeevan Umang also provides survival benefits after the premium paying term ends till the policy maturity date. Also, this plan offers a lump sum amount at the time of maturity or death of the policyholder.

    LIC Whole Life Plans

    Entry Age

    Maturity Age

    Minimum Sum Assured

    LIC Jeevan Umang Plan

    90 days- 55 years

    100 years

    Rs. 2 lahks

    6. LIC Money Back Plans

    Life Insurance Corporation offers several money-back plans namely LIC’s New Money Back Plan-20 Years, LIC’s New Money Back Plan-25 Years, LIC’s Jeevan Umang, LIC’s New Children’s Money Back Plan, LIC’s Jeevan Tarun, LIC’s Jeevan Shiromani and LIC’s Bima Shree.

    Plan Name

    Entry Age

    Maturity Age

    Min. Sum Assured

    LIC Jeevan Shiromani Plan

    18- 55 years

    69 years

    Rs. 1 crore

    LIC Jeevan Tarun Plan

    90 days- 12 years

    25 years

    Rs. 75,000

    LIC New Money Back Plan- 20 years

    13- 50 years

    70 years

    Rs. 1 lakh

    LIC New Children Money Back Plan

    0- 12 years

    25 years

    Rs. 1 lakh

    LIC New Money Back Plan- 25 years

    13- 45 years

    70 years

    Rs. 1 lakh

    LIC Bima Shree Plan

    8- 55 years

    69 years

    Rs. 10 lakh

    LIC Dhan Rekha Plan

    90 days- 60 years

    80 years

    Rs. 2 lakh

    LIC New Bima Bachat Plan

    15- 50 years

    65 years

    Rs. 35,000

    Best LIC Life Insurance Plans 2024

    The table below highlights the best LIC Life Insurance Plans to invest in 2024:

    Life Insurance Plan

    Entry Age

    Sum Assured

    Maturity Age

    LIC Bima Jyoti Plan

    90 days- 60 years

    Rs. 1 lakh- no limit

    18- 75 years

    LIC New Endowment Plan

    8- 55 years

    Rs. 1 lakh- no limit

    N/A- 75 years

    LIC Jeevan Umang

    90 days- 55 years

    Rs. 2 lakh- no limit

    Lifetime

    LIC Jeevan Labh Plan

    8- 59 years

    Rs. 2 lakh- no limit

    N/A- 75 years

    LIC Single Premium Endowment Plan

    90 days to 65 years

    Rs. 50,000- no limit

    N/A- 75 years

    1. LIC Bima Jyoti Plan

    The LIC Bima Jyoti Plan is a life insurance plan that will help you secure the future of your loved ones. It is a non-participating, non-linked, individual savings insurance plan that provides both maturity and death benefits to the policyholders.

    The key benefits of this plan are highlighted below:

    • The death benefit is increased by 25% when all premiums are paid
    • Guaranteed additions of Rs. 50 per 1000 sum assured is provided
    • You can buy this plan in both ways- online and offline
    • The policyholder can borrow a loan after the completion of two years of the policy
    • You can surrender your life insurance plan if the premium for two is completely paid
    • Get a return of your premium if you’re dissatisfied with the terms and conditions of the policy

    2. LIC New Endowment Plan

    It is an endowment life insurance plan that provides both maturity benefits for surviving the policy tenure and death benefits in case of the demise of the life assured. Individuals who want to create savings and ensure protection for their families can buy this plan.

    The key features of this plan are highlighted below:

    • Participate in the profit-sharing scheme of the company distributed in the form of a simple reversionary bonus and a final addition bonus
    • Option to borrow a loan against the policy during financial emergencies
    • The maturity benefit is paid for surviving the policy tenure
    • The nominees of the policy are eligible for a death benefit in case of the demise of the policyholder

    3. LIC Jeevan Umang

    It is a non-linked, participating individual insurance plan that provides both protection and wealth creation benefits to policyholders. The plan provides whole-life insurance coverage to its policyholders.

    The key benefits of this plan are highlighted below:

    • Get survival benefits up to 8% of the sum assured annually
    • The policyholders can lend a loan against their LIC Jeevan Umang plan
    • Get a lump sum amount at the maturity of the policy
    • Select from different premium payment terms
    • Choose to get a death benefit either in instalments or in a lump sum
    • Earn bonuses and rewards depending on the profitability of the company

    4. LIC Jeevan Labh Plan

    LIC Jeevan Labh is a non-linked individual life insurance plan. The policyholders can invest in this savings and protection plan to accomplish their long-term financial goals. Additionally, the plan will provide financial protection for your loved ones during times of uncertainty.

    The key features of LIC Jeevan Labh are highlighted below:

    • Pay a premium for a limited period and enjoy long-term coverage
    • Lend a loan against your policy if two-year premiums are paid completely
    • Opt to get a death and maturity benefit either in installments or a lump sum
    • Enhance the coverage of your LIC life insurance plan by including a waiver of premium rider
    • Get attractive discounts and rebates on a high-sum assured insurance plan

    5. LIC Single Premium Endowment Plan

    It is an endowment plan that provides comprehensive coverage to its policyholders. The plan offers both maturity and death benefits in addition to bonuses. The policyholders of the LIC Single Premium Endowment Plan can customise their policy according to their specific needs and wants.

    The key features of this plan are highlighted below:

    • A premium is paid in a lump sum by the policyholder
    • Maturity and death benefits are paid upon the policy maturity or demise of the life assured, whichever the case may be
    • The policyholders participate in the profits of LIC of India. Therefore, the company provides a simple reversionary bonus or a final additional bonus to the policyholder
    • You can lend a loan against your LIC Single Premium Endowment Plan after the completion of the first year of the policy

    Significant Facts About Life Insurance Corporation Of India

    Before purchasing a life insurance policy from LIC you should know about some facts about the insurance company. Below mentioned is a list of facts that one should be aware of before purchasing a life insurance plan offered by LIC:

    • LIC is one of the oldest Government-owned insurance companies that has been providing life insurance for the last 60+ years.
    • LIC has been operating at a multinational level, as of now the insurance company is operating in Fiji, UK, Mauritius, Singapore, Bangladesh, Bahrain, Dubai, Abu Dhabi, Oman, Qatar, Kuwait, Saudi Arabia, Sri Lanka, Kenya, and Nepal.
    • LIC invests most of its funds in bonds (Government and Corporate) and some funds in stock markets. The return on investments is partly provided to policyholders and the remaining is utilised by the Government of India (95% of the returns on investment is provided to policyholders).
    • LIC has more than 11 Lakhs agent network that helps in the distribution of life insurance policies.
    • Since LIC is a Government-run insurance company, the Government guarantees to settle claims in case it defaults.
    • LIC is a very customer-centric insurance provider. The slogan of LIC ‘Yogakshemam Vahamyaham’ from Bhagvad Geeta means ‘Your Welfare is Our Responsibility.’

    Why Do You Need an LIC Life Insurance Plan?

    Life Insurance Corporation of India has been providing a wide range of life insurance plans for a long time. LIC is the oldest life insurance company in India that offers a wide range of life insurance products designed to fulfill different requirements of different people. The company was established with the main objective of providing financial security to people. Moreover, LIC life insurance policies are a very popular choice amongst customers as it is one of the most trusted life insurance companies in India.

    Riders Available with LIC Life Insurance Plan

    Some of the riders that you can include in your LIC Life insurance plan are as follows:

    • LIC Accidental Death and Disability Benefit Rider: The LIC Accidental Death and Disability Benefit Rider provides financial assistance to the policyholder if they suffer partial or permanent disability.
    • LIC Premium Waiver Benefit Rider: With the help of this rider, policyholders can get their premiums waived off if they are diagnosed with any kind of critical illness or suffer paralysis.
    • LIC Critical Illness Benefit Rider: This rider provides financial assistance to the policyholder in case they are diagnosed with any kind of critical illness as listed on the policy papers.
    • LIC Accident Benefit Rider: The LIC Accident Benefit Rider provides additional financial assistance to the policyholder in addition to the sum assured.
    • LIC New Term Assurance Rider: With the help of this rider, the benefits of the LIC term insurance plan get enhanced even more.

    When is the Right Time to Buy LIC Life Insurance Plan?

    You should ideally buy a LIC life insurance plan when you are in your 20s and are financially independent. This is because when you are in your early stage of life, you have lesser dependency which makes it easier to buy life insurance plans. Furthermore, the best part about buying LIC life insurance plans at an early age is that you will get life insurance plans at affordable premiums and coverage for a longer time.

    How to Choose the Best LIC Policy?

    Listed below are some of the factors that you need to consider when buying life insurance policies with LIC:

    • Analyse Your Requirements: First and foremost, you need to analyse the coverage amount you need to have. Keeping your income and future goals in mind, you should wisely choose the coverage you need with your LIC plan.
    • Check the Different Types: You should also check the different types of LIC life insurance policies available such as ULIPs, endowment plans, and more. Understand the coverage offered under the different types of LIC life insurance plans and accordingly buy the plan.
    • Compare the Plans: Last but not least, don’t forget to compare the different types of plans available. You should compare the premium you need to pay for the different LIC plans as well as check other features.

    What Are LIC e-Services?

    In today’s digital world, LIC also offers a number of services that can be availed online. With the option of e-services, policyholders can easily get their queries resolved from the comfort of their homes. Some of the online services available with LIC are:

    • Comparing life insurance plans
    • Online premium calculator
    • Check policy status
    • Check LIC Policy claim status
    • Loan application
    • Any kind of grievances

    Steps to Register for LIC e-Services

    Step 1: Go to the official website of LIC and click on “New User

    Step 2: Enter customer ID and password

    Step 3: Login through your credentials and fill up the registration form

    Step 4: Sign the form and scan it along with PAN card

    Step 5: Then, submit a scanned image and click on “Submit

    Step 6: Once approved, you will receive an acknowledgment on email or SMS

    LIC Mobile Apps

    You can enjoy the online services through the following LIC mobile apps:

    • My LIC which provides policyholders access to all their applications
    • LIC Customer App provides services related to different LIC products and lets customers check policy brochures
    • LIC PayDirect app helps the customers in directly paying the loan and premium amounts
    • LIC Quick Quotes is useful in quickly calculating the LIC premium you need to pay

    How to Check the Policy Number of LIC?

    Here’s how one can check the LIC policy number:

    Step 1: Visit the LIC customer portal on the official website of LIC

    Step 2: Go to the “Registered User: option and enter your credentials

    Step 3: Once you log in, you can see the policy details of your LIC policy

    How to Check the Maturity Amount of Your LIC Policy?

    To check the maturity amount of your LIC policy, you need to:

    Step 1: Log in through your credentials on the customer portal of the LIC website

    Step 2: Click on the ‘Policy Status’ section and view all your LIC policies

    Step 3: Select the policy of which you need to check the maturity amount

    Step 4: Once you click on the policy, you will be able to view the maturity amount

    Modes Of Payment Options Offered By LIC

    LIC policyholders have the option to pay premiums online or offline. Below mentioned are the different modes of payment options offered by LIC:

    1. Online Payment Options

    Following is the list of online payment options offered by LIC:

    • E-Wallets (Paytm, BHIM, etc.)
    • UPI
    • Debit/Credit Cards
    • Net Banking

    2. Offline Payment Options:

    Following is the list of offline payment options offered by LIC:

    • NACH
    • Bill Pay
    • ATM - Axis and Corporation Bank

    Claiming Insurance With LIC

    Settling claims on time is the best facility offered by the insurance company to its customers. The insurance company helps ensure a hassle-free claim settlement for its customers.

    As a nominee of an LIC policyholder, you should be aware of the entire claim process starting from filing a claim intimation to claim settlement. The entire claim settlement process is offline, the nominee has to visit the branch office to file a claim for LIC insurance policy.

    Below is the step-by-step guide to filing a death claim with LIC:

    Step 1: Claim Intimation

    In case of the demise of the life assured, the nominee is required to visit the branch office of Life Insurance Corporation of India to inform the insurance company regarding the claim. The branch official will provide claim forms and NEFT forms which are to be filled by the nominee. The NEFT form is required for the transfer of the death benefit into the nominee's bank account. The nominee has to provide an intimation letter under which the date of demise, place of demise, and cause of demise of the policyholder must be mentioned.

    Step 2: Submit Required Documents

    The nominee has to submit supporting documents that are required to assess the claim. All supporting documents that the nominee is going to submit are to be self-attested. Do keep in mind that while assessing the claim, LIC can ask for additional documents before the claim is finally settled.

    Step 3: Claim Settlement

    Once the nominee has submitted the documents, he/she can collect the acknowledgment slip. The nominee shall receive the claim amount within 30 days in case no additional documents are required. In case the claim amount is not settled within 30 days, the nominee can visit the branch office to check the status of the claim.

    Process To Buy LIC Life Insurance Plans

    Individuals who want to invest in LIC Life Insurance Plans can either buy online or offline. Here is a detailed guide that you can follow to buy life plans offered by the LIC of India via both modes.

    Online Process

    Step 1: Visit the official website of the LIC of India.

    Step 2: Click on the “Buy Policy Online” tab.

    Step 3: Select a life insurance plan that you want to purchase from a list of plans displayed.

    Step 4: Provide some basic details such as name, gender, age, and more.

    Step 5: Make a premium payment online to complete the process.

    Step 6: Once a premium is paid, LIC policy document will be sent to your registered email.

    Offline Process

    You can buy LIC Life Insurance Plans offline by visiting the branch office of the LIC of India. Additionally, you can contact the customer service department of the company to buy insurance.

    Documents Required to Buy LIC Life Insurance Plans

    The following are the documents that you should keep handy at the time of buying LIC life insurance plan:

    • Identity proof
    • Age proof
    • Address proof
    • Income proof
    • Proposal form
    • Policy declaration form if the policyholder has not filled the policy document by themselves
    • Final declaration form

    How To Check LIC Policy Status Online?

    LIC offers numerous services online to smoothen the experience for its customers. Checking your life insurance policy status from time to time is as important as purchasing a life insurance policy.

    Here’s how you can do it:

    Online Method

    Below are the detailed steps that one must follow to check the policy status of their LIC life insurance policy online:

    Step 1: Visit the official website of the E-service portal of LIC.

    Step 2: Click on ‘New User’ in case you haven’t already registered, if you have already registered then click on ‘Registered User.’ (You can follow the above-mentioned steps to register yourself)

    Step 3: An external link will open where you need to enter your UserID/Email/Mobile Number, Password, and Date of Birth.

    Step 4: Once you have successfully logged in, click on the ‘Policy Status’ tab.

    Step 5: Click on the policy number to get your policy status.

    Offline Method

    You can also check your policy status offline by calling the helpline number of LIC or by sending an SMS. To get your policy status through SMS simply send ASKLIC to 56767877 or 9222492224 from your registered mobile number.

    LIC Online Premium Payment

    You can now make LIC premium payments online efficiently and securely anywhere and anytime. You can make payments online on the LIC e-services portal. Below mentioned are some steps to make the payment online on the portal:

    Step 1: Visit the official website of LIC and select ‘Pay Premium Online’ from the ‘Online Services’ section on the home page.

    Step 2: You can choose to pay without logging in or through the customer portal. If you want to pay without login, select ‘Pay Direct’, and if you want to pay through the customer portal then select ‘Through Customer Portal.’

    Step 3: In case you select ‘Pay Direct’, a new window will open under which you can select the type of payment such as Renewal, Advance Premium Payment, Loan Repayment, or Loan Interest Repayment. After selecting the type of payment you must fill out the customer validation form, verify your premium particulars, and proceed to make the payment.

    In case you want to pay a premium through the customer portal you will have to log in using your User ID/Email/Mobile, Password, and Date of Birth.

    Step 4: Provide your policy number and the amount of the premium payable. Select the policy and proceed to make the payment.

    Things to Remember While Making LIC Premium Payment

    Here are some of the things that you need to remember while making LIC premium payment:

    • First of all, you need to have a registered bank account with LIC. The online payment facility is only available with domestic-issued cards and no international cards
    • You should also make sure to provide exact details
    • Once the payment is done, you will receive payment details on your registered Email ID
    • The payments should only be done by the policyholder and not a third-party

    LIC Premium Calculator

    If you want to estimate the amount of premium for a LIC life insurance policy before purchasing an insurance policy, you can follow these steps:

    Step 1: Visit the official e-services portal of LIC and click on ‘Premium Calculator and Benefit Illustration’ option.

    Step 2: Enter the required information such as your name, date of birth, age, gender, mobile number, and email address then click on ‘Next’

    Step 3: You can choose to get a quick quote or compare quotes. Select the name of the plans you want to compare or the name of the plan you want to get a quick quote of.

    Step 4: Enter your preferred sum assured, policy term and policy tenure then click on ‘Next’.

    Step 5: Premium for the insurance policy will be calculated based on a yearly, half-yearly, quarterly, and monthly basis. You can choose the premium payment frequency of your plan and click the ‘Get Illustration’ benefit illustration.

    LIC Life Insurance User Reviews

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    Claim Process at LIC of India

    • 1

      Claim Intimation

      In the event of the death of the life assured, the insurance company should be intimated as early as possible.
    • 2

      Submission of Documents

      For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
    • 3

      Claim Evaluation

      After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
    • 4

      Claim Settlement

      If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
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    FAQ About LIC of India

    • Why should I choose the Life Insurance Corporation of India?

      Life Insurance Corporation of India is the oldest and one the largest insurance providers in India. Life Insurance Corporation provides a wide range of Term Insurance, Endowment, Money Back and Whole Life Plans. Life Insurance Corporation has featured a  high claim settlement ratio of 96.69% in the FY 2019-20.

    • What is the grace period of insurance plans offered by Life Insurance Corporation?

      LIC offers 15 days of grace period for the policies with monthly premium payment mode and 30 days for policies with quarterly/half-yearly/yearly premium payment mode.

    • Who receives the claim benefit?

      The claim benefit is payable to the nominee in case of an unfortunate demise of the life assured. In case the life assured has assigned the policy to someone, the assignee will be entitled to the benefits payable under the life insurance policy.

    • Can I file claims for LIC insurance plans online?

      To file a claim for Life Insurance Corporation insurance plans you need to visit the LIC branch office for claim intimation and assessment.

    • What are the types of Insurance plans offered by Life Insurance Corporation?

      Types of Life Insurance Corporation Insurance Plans are:

      • Term Insurance Plans
      • Endowment Plans
      • Whole Life Plans 
      • Money Back Plans.

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