LIC of India is fully owned by Government of India. After having so many Insurance companies, LIC is still having a big market share and going strong also in claim settlement also, the best in the World. Life Insurance is very important for everyone in today's modern life.
It's unfortunate that many people think of Life Insurance in their late 40s. Life insurance policy is an essential product to plan for future and retirement. We all know and see what most senior citizens face after retirement. Many exhaust their savings over the years and live as helplessly on others support.
After Coronavirus spread, life has become unpredictable for everyone. It has become very hard to believe what we see in the media. There is a wave to buy Health Insurance all over the world.
In simple terms, the Life insurance policy can be used to secure your children's education and future. When one is alive he can take care of his children. What if he dies? Is it possible for him to perform the same role?
We all know it's impossible. Death, as we know, is unpredictable and inevitable. It can come when you least expect. So with this in mind, its important one purchase a life policy in anticipation of the future.
With a life policy, your children won't have to be thrown out of school. They won't have to live the rest of their lives in squalor because you have taken a wise decision to protect them.
LIC plans have Sovereign guarantee from Government of India which no other Life Insurance companies are having.
