As individuals it is inherent to differ. Each individual's insurance needs and requirements are different from that of the others. LIC's Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement.
Endowment plans provide a combination of insurance and savings. They offer a lump sum payout on maturity along with life cover during the policy term.
Whole life plans provide coverage for the entire lifetime of the insured, ensuring financial protection to beneficiaries.
Money back plans offer periodic returns during the policy term along with a lump sum amount at maturity and life cover.
Term assurance plans provide high coverage at low cost for a specific period, offering financial security to the family in case of the insured's untimely death.
Riders are additional benefits that can be added to a base insurance policy to enhance coverage, such as accidental death or critical illness riders.