Mon, 25 January 2021
LIC International wishes all Indian nationals a Happy Republic Day! Having been established by its parent company LIC of India in collaboration with M/S Intercol of Bahrain in 1989, LIC (International) has grown to be a company worth US$ 2 billion with over 100,000 customers spread across five countries in the Gulf.
LIC (International) CEO and MD, Sunil Kumar Thakur believes that all individuals should have life insurance, similar to having investment assets. “A financial plan would not be complete without the key element of life insurance which provides the benefit of return on our hard-earned money and immediate capital, in case of any eventuality even if the investment portion is less,” explains Mr. Thakur.
“Our product range includes valuable life cover, savings, critical illness cover and old age pension besides guaranteed short term investment plans,” he adds.
Jeevan Anand, one such product, provides valuable life cover as well as ensures reasonable return on the premium paid. It provides the pre-decided amount with bonus either at the end of the stipulated policy term or in case of any eventuality, as a value addition. The policyholder’s risk cover continues even after the policy term, till the occurrence of an unfortunate event.
Companies can make use of the ‘Immediate and Deferred Pension Plans’ which provides guaranteed lifelong pensions while the ‘Professional Education Plan’ for children ensures guaranteed payouts to meet financial requirements for higher education. The ‘Healthee Plan’ provides valuable life cover and critical illness cover.
The economic worth of a Human Life Value quantifies the amount of insurance coverage the breadwinner of the family should have. “The only substitute for an individual’s income flow, in the event of a calamity, is the life insurance which can provide a family’s unavoidable needs of immediate capital,” he concluded.
For further details, contact the LIC branch on 17 210-610 or 39 936-618.