Life Insurance is the key components in a person’s financial portfolio. Life Insurance Corporation of India has created awareness in the Indian population about the importance of insurance planning. LIC Jeeevan Anand is a protection plan that helps an individual avail the benefits of both an endowment plan and a whole life insurance.
In a person’s financial portfolio, Life Insurance is one of the key components. Either the person has to secure his / her family financially after his / her death, or after retirement, if someone wants to secure their expenses, customer should absolutely have enough insurance cover. The individual has to plan the milestones in their life; insurance can also be used in this respect, such as, your daughter marriage or child’s higher education. Insurance should be based on the standard of living that their family would need to maintain based on their current lifestyle. The customer should also decide how much money they would need to meet costs like marriage or education. For a fixed level premium endowment policies can provide lifelong protection. In addition, it integrates death benefit with cash value accumulation. However, comparable amount of life insurance is lesser than for the initial cost
Life Insurance Corporation of India has created awareness in the Indian population about the importance of insurance planning. In the Indian market, the trust that they enjoy is amazing. The company and its products are available in both rural and urban area of India with a strong network of many branches. LIC is the only public sector company that provides life insurance in India. Rest of the 22 companies is private undertakings.
LIC or Life insurance Corporation of India provides a range of insurance products that are truly unmatched. They provide a vast multitude of products ranging from pension plans to protection plans. Some of these are Jeevan Suraksha 1, Komal Jeevan, Jeevan Kishore, Jeevan Anand and so on. LIC Jeeevan Anand is a protection plan that helps an individual avail the benefits of both an endowment plan and a whole life insurance. A Whole life insurance means that the person is provided with both death benefits and maturity benefits. If the person dies during the insurance cover period, the family or the nominee is paid the sum assured. If, however, the person doesn’t die during the insurance term, the company pays them an assured lump sum amount in addition to the sum assured.
The Jeevan Anand also provides an Investment component in the provision that the company adds bonuses acquired at the financial year to the sum assured at the time of payment. There are plenty of companies that provide life insurance in India that it becomes confusing for the customer to choose. It is best to acquire knowledge online about the many products that are available. One can also compare them and apply.
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