Who Can Buy A Policy Authorized LIC Agent for Life Insurance Corporation of India (LIC) LIC Agent Agent In Chennai. 9940240384 Life insurance Agent adviser Consultant, Affordable as an Efficient Life Insurance Agent, I have been providing Indian Taxation, Investment and Insurance consultation in Chennai.
Arrange you
suitable policy for you and your family at your door step Chennai.
Who Can Buy A Policy?
Any person who has attained majority and is eligible to enter into a valid contract can insure himself/herself and those in whom he/she has insurable interest.
Policies can also be taken, subject to certain conditions, on the life of one's spouse or children. While underwriting proposals, certain factors such as the policyholder’s state of health, the proponent's income and other relevant factors are considered by the Corporation.
Insurance For Women
Prior to nationalization (1956), many private insurance companies would offer insurance to female lives with some extra premium or on restrictive conditions. However, after nationalization of life insurance, the terms under which life insurance is granted to female lives have been reviewed from time-to-time.
At present, women who work and earn an income are treated at par with men. In other cases, a restrictive clause is imposed, only if the age of the female is up to 30 years and if she does not have an income attracting Income Tax.
Medical and Non-Medical Schemes
Life insurance is normally offered after a medical examination of the life to be assured. However, to facilitate greater spread of insurance and also to avoid inconvenience, LIC has been extending insurance cover without any medical examination, subject to certain conditions.
With Profit and Without Profit Plans
An insurance policy can be 'with' or 'without' profit. In the former, bonuses disclosed, if any, after periodical valuations are allotted to the policy and are payable along with the contracted amount.
In 'without' profit plan the contracted amount is paid without any addition. The premium rate charged for a 'with' profit policy is therefore higher than for a 'without' profit policy.
source – lic india
Think about before buying any insurance policy is an important decision.
If life insurance buying is approached in the proper manner it can be very useful (advantageous) to yourself and your family.
Today's up to date Latest LIC's Current NAV
Plan verify Your Income Tax Saving
LIC Premium calculator
Pay LIC Premium Bank ECS Foam