New LIC Policy

Life insurance is no longer a simple term insurance plan which promises you a lump sum benefit on death during the plan tenure. The concept of life insurance has undergone many revolutions in the context of the various plans which life insurance companies have started offering. About half a century back when the Life Insurance Corporation of India, LICI, established the Indian Insurance Market, a handful of insurance products were sold, the primary being a term insurance plan. Today, with more than 28 insurance companies vying for the insurance market share, the products on offer have also be revamped and developed to provide amazing benefits and features. Thus, when you look out for a life insurance plan, you would get plans with multiple features which promise the policyholder the best benefits in their respective classes.

An additional and important feature of money back policies is that in the event of death at any time during the term of the policy, the death claim comprises full sum assured without deducting any of the survival benefit amounts.The insurance premium of Money Back Policies are higher than Term Insurance Policy because in Term Insurance there is no survival benefits after the expiry of the insurance period. Money Back Insurance Policies are good for people who want to Insure their life and also want to some return from their investment's at a later date. The return from investments in Money Back Policies would range between 5% to 8% anually depending on the interest rate movements.

Choosing the best money-back insurance plan is a relative subject. Every individual’s needs are different and so different plans seem the best to different individuals as per their requirements. However, there are certain features which are universally judged when comparing the different money-back insurance plans. Comparing is the only tool which helps you in choosing the best money-back insurance plan. So, whenever you think of buying a money-back insurance plan, compare between the different plans before settling on one. How would you do that? Here are the points which would help you in comparing between the different money-back insurance plans.

These are more or less all the points which should be kept in mind when you are out comparing the available options in money-back insurance plans. When you know what the correct points of comparison are, comparing and then choosing the best plan becomes easy and simple. These points are your ready reckoner for comparing between the money back insurance plans.

An additional and important feature of money back policies is that in the event of death at any time during the term of the policy, the death claim comprises full sum assured without deducting any of the survival benefit amounts.The insurance premium of Money Back Policies are higher than Term Insurance Policy because in Term Insurance there is no survival benefits after the expiry of the insurance period. Money Back Insurance Policies are good for people who want to Insure their life and also want to some return from their investment's at a later date. The return from investments in Money Back Policies would range between 5% to 8% anually depending on the interest rate movements.