LIC, or Life Insurance Corporation of India, is a state-owned insurance group and investment corporation. It is the largest insurance company in India, offering a wide range of life insurance, health insurance, pension plans, and investment products.
LIC offers various insurance plans, including term insurance, whole life plans, endowment plans, health insurance, pension plans, child plans, and unit-linked insurance plans (ULIPs).
You can buy an LIC policy through LIC’s official website, LIC agents, LIC branch offices, or authorized LIC brokers. Satija Consultants can also assist you in choosing and purchasing the right LIC policy.may deteriorate, ultimately increasing your term policy premiums. Buying an online term plan allows you to secure your family at affordable premiums with a large life cover for a long tenure.
LIC policies offer benefits such as life cover, financial protection for the family, savings and investment options, tax benefits, loan facilities, and retirement planning.
Yes, premiums paid towards LIC policies are eligible for tax deductions under Section 80C of the Income Tax Act. Additionally, maturity proceeds and death benefits are often tax-free under Section 10(10D).
