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B SURENDRAN LIC

FAQ

Why should I opt for an insurance scheme when I have sufficient short-term savings?

Holding short term investments allows you to ensure sufficient liquidity when needed, where as insurance plans provide guaranteed returns and protection of your assets for a long-term tenure. Guaranteed long term returns are possible through proper insurance plans, particularly with the Life Insurance Corporation of India, as it is backed by a sovereign guarantee from the Government of India. Additionally, you can ensure all these returns are exempt from Income tax.

I dislike long-term savings, especially insurance, because the final maturity value never seems to beat inflation.

Only long-term plans can ensure stable growth over an extended period. The amount you invest directly determines the size of your returns. There for it is essential to top up your investments periodically according to your income growth over time. Thus, you can beat and overcome inflation. We provide effective top-up plans tailored to your income and age,
correlated to the total term you have.

Insurance is not profitable. Mutual funds are best.

Insurance is the best option for long-term investment. It offers a unique combination of financial protection, guaranteed returns, and tax benefits, making it an unbeatable choice for securing your financial future. Mutual funds come with significant drawbacks, including market volatility, high management fees, and no guarantee of returns. This means investors
are exposed to unpredictable returns, erosion of capital, and difficulties in accessing their money when needed. Also, remember that returns from mutual funds are taxable.

I am a private employee with a comparatively low income, and I don't have enough money to pay for insurance premiums.

That's understandable, but insurance premiums can be more affordable than you think. Many insurance plans offer flexible payment options and premiums that can fit even a tight budget. Additionally, the financial protection provided by insurance can far outweigh the costs, especially in unexpected events. It's worth exploring options and prioritizing your
financial security. Truly speaking, people like you must take necessary insurance cover to secure your family against uncertainties. Have you ever thought about how your family would survive in your absence?
You may have only a small amount to spare, and it may be for a long term. In that case, life insurance, especially LIC, is the best way to secure your future financial goals

I am running a business and am aware that I can earn a much better return by investing in my own business than by investing in insurance.

The COVID-19 pandemic highlighted the uncertainty of business revenue. In contrast, LIC demonstrated its reliability by delivering the promised returns to policyholders, unaffected by the crisis. With LIC, you can make substantial investments without concerns about steady returns, ensuring a secure financial future.

I dislike insurance agents. They are really a nuisance.

A true professional insurance agent never pressures you into a sale. Instead, they provide expert guidance and tailored solutions that cater to your unique needs and circumstances, considering your age and other factors. Moreover, they are more eager to provide ongoing support and timely reminders for premium payments than to simply sell you a policy.

Investing in gold is better than investing in insurance.

While gold can appreciate in value, it doesn't provide the same level of financial protection and security as insurance. Insurance provides a safety net for your loved ones, covers unforeseen medical expenses, and ensures business continuity. Gold can't offer these benefits. Why not consider a balanced approach that includes both?

I have enough wealth. No need of insurance right now

Wealth can provide a sense of security, but unexpected events like accidents, illnesses, or lawsuits can erode it quickly. Insurance helps protect your wealth and ensures that your loved ones are financially secure, regardless of what life brings. Consider insurance as a way to safeguard your legacy and provide peace of mind.

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