How to choose LIC PLANS?


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Accompanied by an increasingly uncertain times, mainly tumultuous financial markets and fragile economies, getting an insurance cover for you and your family has become imperative.

  • Its better to choose the right kind of insurance cover not only to care that we receive should our health take a wrong turn, but it can also be the wild card in your financial plan.
  • There are plenty of benefits for an insurance cover.
  • Nevertheless, the  benefits is the financial support that a family gets in the event of the untimely death of the income provider.
  • Rather getting an insurance cover is an important aspect of a sound financial future, choosing the right insurance cover is equally important, hence it is important to choose the LIC plans.

Follow the steps to choose the better LIC plans for better future.

Its important for anyone choosing an insurance policy, it must be based on your current and projected income, or simply put your current and projected ability to pay the insurance premiums, your medical state, your age, future financial plans, etc.


One must look at the Cost-benefit ratio.

  • The cost of the insurance cover depends upon many reasons, some mentioned above and other factors depending on what is covered in the cover or its riders.
  • Hence, one has to keep an eye on the cost of buying insurance and make sure that it justifies the benefits covered under the policy.

One must even look after the health

It is necessary to ensure that the insurance covers all your dependents and that it also covers the majority of health problems.

 One must look after the term of the insurance 

Term life insurance or term assurance is life insurance which gives coverage for a limited period of time.

One must look after the subsidizing

  • Subsidizing policy: An Subsidizing policy is a life insurance contract designed to pay a lump sum after a specified term (on its maturity) or on death, whichever is earlier.

It is responsible for everyone to know about Money-back policy

Same as the  ordinary endowment insurance plans where the survival benefits are payable only at the end of the endowment period, money-back policies provide for periodic payments of partial survival benefits during the term of the policy.


It’s important to correctly identify your dependents’ financial needs to establish just how much life insurance cover to arrange. A general rule is to choose a policy providing at least ten times your salary, but more may be appropriate, with the amount varying depending on how you intend it to be used.

It depends on the one to decide how much the  dependents to receive in the event of the death, and ones premiums will be determined accordingly.

So, make sure you keep all these factors in mind, compare different plans and choose your cover accordingly.



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