LIC vs private insurers: How LIC fares in premiums, expenses from its peers?
Is Life Insurance Policy better than other savings schemes? Life insurance is a contract that assures payment of an amount to the person assured (or his nominee) on the happening of the event insured against. Life insurance also eliminates 'risk', substitutes certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner. However, despite the benefits provided by a life insurance policy to the family or nominee of the policyholder, some may think that a life insurance policy is not an effective savings instrument. Against this backdrop, Life Insurance of India (LIC), India’s largest life insurance company, has come out with top five reasons explaining why a life insurance policy is better than other savings instruments. Here are the details. Protection Savings through life insurance guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amoun
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