I want to choose LIC policy. How to choose the LIC policy? What are the factors affected?
Answer:
or speak to an independent finacial advisor who would have analysed all the products available and can help u chose one..i know sum1 if u need help lemme know
u dont go for LIC instead u can opt for ING VYSYA LIFE INSURANCE choose freedom plan
hi
Are you looking for Insurance policy or LIC policy only.
Before buying a policy, you should think of following:
what is my age, who all depend on me & if something were to happen to me, how would it impact them.
If you are a systematic investor, buy a term policy and invest in a mix of stocks, mutual funds, bonds & deposits.
If not then,
what do you need it for (& how much you need & when do you need) -
kids education/ marriage,
for regular payback (money back policies)
lumpsum money at fixed intreval of time (endowment policy)
your pension/ retirement
First plan your requirement and then decide. Or meet a broker/ agent to help you plan
Very good , I pleased that you are thinking for L.I..C. policy.
it is necessary for secured life.
You can choose one of many type police as your requirement and income.
there are some type of policy;-
1.whole life policy
2.money back policy
3.terms policy
Factors affected to policy amount and type ;-
1. Age factor
2. Income factor
3. Work risk factor
4. Your health condition
5. family history
6. condition of your life style ets.
I advice you
you must be purchase a high risk policy[jiwan mitra] if you have a regular income
you must be purchase a money back policy if you want risk cover with investment
you must be purchase a share market relactive policy if you want
purchase policy for investment purpose
At last you must gone to L.I.C. office or a gent.
Being an agent myself , I like unit link policies best. These r share market linked, so v hope that with India shining expectations, these will give best returns with bima. However investments by govt. owned LIC can not compete with HDFC or ICICI . u can check out mutual funds performance urself. These r published in news papers daily or weekly.
If ur only intention is savings- then purchasing shares of UCO bank/ Dena Bank/ IDBI bank is good.
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