Daily Archives: 12/07/2018

How Is LIC Term Plan Different?

LIC or Life Insurance Corporation is one of the most trusted brand names in the world of insurance. Established on 1st September 1956, LIC still rules the market when it comes to life insurance. Though many other private market players have shown up since the past two decades, the popularity of LIC hasn’t gone down. LIC term plans are considered as one of the easiest, pocket and end-user friendly insurance plans that anyone could ever ask for. No wonder that the company has a huge database of 250 million people.

So, the legitimate question here is what you mean by LIC term plan and how it is different from others.

Basically, LIC term plan is a contract between the insured and LIC which offers various benefits. As per the term plan, an insured has to pay a certain amount as the policy premium, for a certain time period. After the …