LIC of India Benefits

Life Insurance Corporation of India (also known as LIC) is a state-help insurance company. Since 1956 LIC has been providing robust life insurance services. Life Insurance Corporation is one of the largest life insurance providers in India that provides a wide range of insurance plans such as Term Insurance, Whole Life, Endowment, and Money Back. LIC anticipates your insurance needs and provides you with a plan that fulfils your requirements.

LIC designs insurance plans to cater to every individual's requirement and promises to provide coverage at a nominal cost.

Benefits of Life Insurance Corporation of India

Life Insurance Corporation offers the following benefits to its customers:

• Variety of Products: Life Insurance Corporation provides a wide range of Term Insurance, Endowment, Money Back and Whole Life Plans. The plans offered by Life Insurance Corporation can be chosen according to your requirements and budget. LIC is the most trusted insurance provider and it strives to fulfil every insurance need of a person at an affordable amount.
• High Claim Settlement Ratio: Life Insurance Corporation has featured a claim settlement ratio of 96.69% in the FY 2019-20. High Claim Settlement Ratio reflects the credibility of insurance companies. The Claim Settlement Ratio depicts the number of claims that were paid successfully in a year. When you choose an insurance provider with a high claim settlement ratio, you can rely on the insurance provider to approve the claim fairly in desperate times.
• Award-Winning Services: Life Insurance Corporation has received many awards. LIC has been rated as ‘Most Trusted Service Brand Of India’ by The Economic Times Brand Equity Service in 2012. LIC has continuously been receiving the ‘Reader’s Digest Trusted Brand’ award since 2006. Life Insurance Corporation has been voted ‘India’s Most Trusted Brand’ for four continuous years from 2011-2014. LIC is a trusted life insurance provider in India.
• Excellent Customer Support: Life Insurance Corporation is one of the largest and oldest life insurance providers of affordable policies and plans The company values its customers and provides excellent customer services. Their customer care toll-free number is accessible 24x7. This helps the customer to stay connected with the insurance provider at all times.
• Simplified Purchasing Process: Purchasing and applying for a LIC life insurance plan is very easy. You can visit the LIC branch office for a consultation or purchasing a life insurance plan. You can also get information about the life insurance plan you want to purchase via SMS. Online customer services are simplified to make it easier for existing and potential customers.