What is LIC of India
The Life Insurance Corporation of India was founded in 1956 when the Parliament of india passed the Life Insurance of India Act that nationalized the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.The Life Insurance Corporation of India has been a nation builder since its formation in
1956. The objective LIC has mobilized the funds invested by the people for the people for noble reason.Corporation has returned the funds to the investors for advantage of as well and become greatest financial institution in the country.
National priorities with reasonable returns to the clients are the main purpose of our corporation.The well invested funds, so fruitfully for the benefit of the community at large are Rs24,72,389 crore as on 31st March 2017. The investment of the Corporation’s funds is governed by Section 27A of the Insurance Act, 1938, subsequent guidelines/instructions issued from time to time by the Government of India and the IRDA by way of regulations.Means your fund is well secured hand.
How We Can Help
We offer a wealth of other insurance products including Home Insurance, health Insurance, . This means that we can offer all your insurance needs in one place and with our existing customer discounts we could save you time and money.
As we were voted Best Insurance Provider by consumers four years running you know that you are in good hands with us. Every 12 seconds a new customer joins our insurance Group, get a quote today and see how much you could save.
Who Can Buy A LIC Policy
Any person who has attained majority and is eligible to enter into a valid contract can insure himself/herself and those in whom he/she has insurable interest.
Policies can also be taken, subject to certain conditions, on the life of one’s spouse or children. While underwriting proposals, certain factors such as the policyholder’s state of health, the proponent’s income and other relevant factors are considered by the Corporation
Why you should buy LIC Insurance?
There are several financial instruments available in Market but, life insurance from LIC of India can be treated as one of the most important financial products. A myth among people are that when one get older then only they need to get LIC Insurance, but, this is completely wrong. Bank FD and other saving plans are different investment options but LIC insurance tops all of these. Apart from a means to give funding to achieve financial goal of the future provision, it also gives social security to your beloved at the time of need.
Reasons to buy a LIC policy right now.
Financial Security-
The first and foremost important thing is LIC Plans can secure is financial security to my family after my death. We are traveling in LOCAL Trains, Buses, and private vehicles every day but none of us can predict the future in metro city like Mumbai, Delhi etc and there have been so many cases of premature death every months and every year.
An incident of Local railway bridge mishap in Mumbai and fire accident of Bar and Restaurant at Lower parel in Mumbai has proved that
जरुरी नाहि की बस और ट्रेन के नीचे ही जान से जाये, हमकिसी आदमी के नीचे भी आकर भी जान दे सकते हैI
It is our responsibility and own duty to make it sure that our loved ones stay financially secured even in my absence. LIC Insurance plans give such security in these areas such as expense for our child, as a substitution of my income which may be lost with my absence.
Provision for future goals
If you decide on a future goal Like Pension, Child Marriage/Education, Own House/Car/ etc you have to make plan how much money required to fulfill that goal at particular age. A LIC policy can promise the assurance in such matters of funding even if in the most unfavorable situations.
Tax Benefit– You can get tax benefits Like Sec 80c , sec 10d by purchasing LIC insurance policy such as the maturity benefits would be tax free under the Sec 10(10D), and also the paid premium have Tax benefits like 80 C while calculating tax under the 1961 Income Tax Act.
Thus, you can see that there are so many benefits of buying a life insurance policy in giving security and also for investing and saving purposes. So, it might be a good option to think about getting one at an early age.
Where To Find Us
We are located at Dadar in Mumbai,providing our service whole mumbai, thane and Navi Mumbai