Life Insurance Corporation of India was formed in 1956 when the Government of India merged the country's private life insurers into one public body. It remains majority-owned by the Government.
LIC sells savings, endowment, money-back, pension and pure term plans through a nationwide agent network — which is how most families in Dumka already know it.
Every LIC plan the advisor currently offers in Dumka.
LICTraditional endowment with bonus — pay 15 years, maturity at 20. Sample age 25: about ₹114/day, ~₹12.75 lakh at 45.
LICA gift that grows — open a savings plan in your sister's name this Rakhi instead of a one-time present.
LICStart on your child's birthday — a small yearly amount that becomes a college fund by 18.
LICEndowment plan — protection plus a lump sum at maturity. Sample at ₹3,000/month: about ₹11.49 lakh at 25 years.
LICChild plan — money back from age 18, maturity at 25 for education or marriage. Sample at ₹3,000/month: about ₹12.97 lakh.
LICPay for 15 to 30 years, then receive 8% of the sum assured every year for life, plus a lump sum at 100.
LICMoney-back child plan — regular payouts plus a lump sum at 25. Sample at ₹3,000/month: about ₹11.85 lakh maturity.
LICPure term life cover — Plan 894. Level cover from ₹5 lakh to ₹24 lakh; no maturity if you outlive the term.
LICPure life cover for young earners — a large sum to the family at a small yearly cost.
LICProtection-focused ULIP — ₹3,000/month for 15 years, cover for 25. Sample maturity about ₹47.7 lakh at age 50.
LICULIP linked to index-style funds — pay ₹3,000/month for 25 years. Sample maturity about ₹63.45 lakh at age 50.
LICSingle-premium ULIP — one payment, market-linked growth. Sample: ₹2 lakh in, about ₹10.47 lakh at age 40.
