The Life Insurance Corporation of India (LIC) is known as the insurance behemoth in India. With over 60 years of its presence and having a wide customer base, of course, LIC is one of the most trusted brand in this sector. Renowned for its customer services, LIC offers wide range of insurance products. As it is apparent, LIC offers the best insurance policy as per your requirements and suitability. Every single plan is targeted to fulfill the protection, child welfare, savings and retirement needs of the family.
Even then many of us are reluctant to have an LIC policy. Let us find out some of the objections people raised, when asked to invest in Life Insurance Corporation of India’s Insurance Policy. Most of these are results of the new generation work-life styles and the unawareness of people on the benefits of Life Insurance policies.
Here are Top 10 most common reasons people say for NOT to invest in Life Insurance Corporation of India (LIC) offered policies.
- Reason #1 “Term Insurance Plan vs LIC endowment policy : which is better? Myths and Facts You need to know”
- Reason #2 “I’m too young to start Pension planning?”
- Reason #3 “Do my family really need insurance?”
- Reason #4 “Will I Live Beyond 55?”
- Reason #5 “Old age is manageable without pension”
- Reason #6 “LIC offers Guaranteed TAX Free Returns, is it worth considering?”
- Reason #7 “Can I buy LIC policy online without agents?”
- Reason #8 “Will LIC close down in near future?”
- Reason #9 “My Friend/Relative/Friend’s Father Lost Money in LIC”
- Reason #10 “Investments – I hate advises; I need more time to think”
Prima facie these arguments look relevant. But are these valid reasons to say NO to Life Insurance Corporation’s insurance plans? let us find out.