The oldest participant within the insurance sector, LIC has been catering to the insurance needs of the whole country for a long time. Being the best participant, LIC grabbed most of the market shares and continue to be the biggest participant in the market. The Life Insurance Corporation of India was created on 1st September 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reaching all insurable persons in the country, providing them adequate financial cover at a reasonable cost.
Today LIC functions with 2048 fully computerized branch offices, 113 divisional offices, 8 zonal offices, 1381 satellite offices and the Corporate office. LIC's Wide Area Network covers 113 divisional offices and connects all the branches through a Metro Area Network. LIC has tied up with some Banks and Service providers to offer on-line premium collection facility in selected cities.
Even as life in itself is unpredictable, dying is something which is assured. We may not be capable of foreseeing how things pan out within the future, but it constantly will pay the dividend to put together for it and a ULIP safety plan can move a protracted way in securing the destiny of your family. ULIPs serve a dual purpose, supplying each safety and versatility in terms of funding. LIC is possibly the favored life insurance associate in the country and it gives some of ULIP plans to cater to the needs of the hard operating person.
LIC is said to be the most important life insurance company. In India, LIC is synonymous with life insurance with some of the fairly premium and enough insurance options. Here is why one has to choose LIC as a life insurance company:
LIC has been the leader as an insurance issuer for its efforts to live in advance of the game by using being at par if no longer in phrases of its community with regards to imparting superior services. The company uses great technology, which includes WAN, IVRS, LAN, IVRS & even EDMS which allows humans to go paperless when handling coverage documentation.
The organization does no longer work alone, however, companions with coverage and financial tycoons such as NSE, LIC Mutual Fund, NCDEX, and National Insurance Company among many comparable groups. Subsequently, it's operating through convergence as properly
It has its branches in Nepal, Sri Lanka, Saudi Arabia and Bahrain. LIC has also been bold enough for commencing workplaces in Australia, Canada, and the United States.
It is a unit linked non-participating endowment assurance plan which offers investment cum insurance cover during the term of the policy. This plan is specially designed for you to provide a very good combination of protection and long-term savings and also provides you greater flexibility to build a better life and realize your dreams. On the death of the Life Assured before the stipulated Date of Maturity provided policy is in force, then.
By purchasing through PolicyX.com, you don't need to provide many documents. It is a simple documentation process that takes only a few minutes. This portal allows you to get insured from the comfort of your home. It saves a lot of your time and money as well. These are the basic documents that you need to provide at the time of purchase.
Birth Certificate, 10th or 12th mark sheet, Driving License, Passport, Voter ID, etc.(Anyone)
Driving License, Passport, Voter ID, PAN Card, Aadhar Card, which proves one's citizenship
Electricity Bill, Telephone Bill, Ration Card, Driving License, Passport, should clearly mention the permanent address
Income Proof specifying the income of the person buying the insurance
To have a record of the insured person's identity for future references.
You'll need to fill in a claim form and call the financial adviser from whom to procure the policy. You must submit the relevant files to help your claim. If the claim application is accepted, you may get a cheque within 7 working days. If the claim is rejected, then you'll be receiving a letter explaining the reason for rejection.
Yes, you will get maturity as described in your plan. Refer the policy document to know more.
Last updated on 19-08-2020