No matter what you do, no matter where you are living in India, you need a life insurance policy by LIC. LIC is one of the biggest institutions where you can get some very good plans and policies for your future planning. Not only these policies give you a good life insurance cover, they also provide you with a decent saving.
So what are some of the benefits of getting a LIC policy.
First and foremost is the insurance cover you get. There are policies like Jeevan Anand which give you insurance coverage for life even after the maturity which makes them an excellent value for your money.
You save on taxes big time. Although there is a limit on how much you can save on your insurance under section 80C of income tax act, you can make some good money saving because of that. Moreover, all the money you get as maturity amount is completely tax free. This can mean some good amount of money saved from the taxes.
One more good benefit of getting the LIC policy is that you can make some really good saving for your future. Whether it is your retirement or you are planning for your children, you can save money in the form of a life insurance policy maturity benefit.
When you compare the plans of other life insurance policies being sold in the market, you will find that LIC beats them all with its benefits and trust value. You don’t want to put your money where you are doubtful about the result or future of the company. All this makes LIC one of the best options to save your money and get insurance cover as well.