Life Insurance Corporation is considered the premium insurance provider in India and has earned the trust of millions of Indians. FinancialGuru can provide you with the best LIC products with top-class service. Life Insurance Corporation of India is preferred by so many for investment because of many reasons:
- LIC enjoys a market share of almost 73% and is a Government Corporation, thus offering more security for your money
- Around 99% of claims reach settlement with Life Insurance Corporation of India.
- With LIC around 45% of your money is invested in Govt. securities or other approved investments, approx. 15% in infrastructural and social sector, and about 40% in others to be governed by prudent exposure norms.
One of the best policy for long term investment in LIC is Jeevan Lakshay VI which is a single annuity plan. You pay once and get lifelong pension (depending on number of years you choose). Here are some of the features that make this policy worth considering:
- Single premium paid in a lump sum amount
- The minimum entry age is 30 years and the maximum age is 85 years.
- No medical examination is required for this policy
- The minimum purchase value is 1,00,000 and there is no maximum limit
- The annuity payable for life increases at a simple rate of 3%.