Which is the Best LIC Policy?

The government-owned Life Insurance Corporation of India (LIC) is an insurer in India that provides a variety of insurance plans to meet the various needs of its clients. The long-term advantages, tax-saving alternatives, and guaranteed returns of LIC insurance are well-known. Given the abundance of alternatives available, selecting the ideal LIC policy can be a difficult undertaking. In this piece, we’ll talk about some of the top LIC plans you should think about according on your needs.

1. LIC Jeevan Akshay VI: This is the ideal policy if you want a guaranteed income for the rest of your life. In accordance with this policy, you must make a lump sum payment in exchange for a fixed pension that will last the remainder of your life. The insurance policy also gives customers the choice of selecting a payment frequency, such as monthly, quarterly, half-yearly, or yearly.

2. LIC New Jeevan Anand: This policy combines protection and savings. It gives both a lump sum payment upon maturity and life insurance for the duration of the policy. The scheme also provides bonuses that gradually grow the corpus.

3. LIC Jeevan Labh: This policy is excellent for individuals looking to accumulate funds for upcoming expenses. Along with bonuses, it offers a guaranteed sum that will be paid out at maturity. The policy gives the option to select the policy term, premium payment term, and payment method.

4. LIC Tech Term: Those who enjoy online transactions and are tech-savvy should use this policy. It provides supplementary coverage for accidental death and disability in addition to a large sum assured at a cheap cost. The policy gives the option to select the policy term and payment method.

The linked query, “Who needs Products Liability?” is next. – Products liability insurance is necessary for any company that produces, sells, or distributes goods. This insurance protects the company from any legal liabilities resulting from harm or injury brought on by the company’s products.

“What products are covered by insurance?” – Insurance can cover a wide range of items, including travel, life, health, and homes and automobiles. The kind of insurance needed will depend on the product and how it will be used. For instance, whereas health insurance covers medical costs, auto insurance covers any damage to the vehicle or to the property of third parties.

“How much does seller insurance on Amazon cost?” – Depending on the level of coverage needed and the seller’s business style, Amazon seller insurance prices can vary. Amazon provides a variety of insurance plans, including Amazon Product Liability Insurance, Amazon Business Insurance, and Amazon Seller Flex Insurance. These policies cost between a few hundred to a few thousand dollars annually.

What payment schedule will Amazon follow for sellers? – Every 14 days, Amazon compensates its vendors. The money is transferred right into the seller’s bank account, and they can see the payment information in their Amazon seller account. Depending on the seller’s location and the selected payment method, the frequency of payments may change.

In conclusion, your financial objectives and needs will determine which LIC policy is suitable for you. It is crucial to contrast the many policies provided by LIC and select the one that best meets your requirements. Additionally, you must protect yourself against any legal responsibilities by purchasing insurance for your company and products. Understanding the payment choices and insurance alternatives accessible to you as an Amazon seller is crucial.