Under a life insurance contract in India, the insurer guarantees to pay a fixed amount on the death of the policyholder's family during the term of the policy.
Best Plan Ben Life Insurance Policy LIC is an agreement between the insurance company and the policyholder that provides financial coverage, under which the insurance company guarantees to pay a certain amount to the nominated beneficiary of the insurance company in the event of an unfortunate event during the life insurance period. Insurance plans.
Apart from death benefits, life insurance plans also provide maturity benefits.
These benefits are provided in the form of payments if the insured survives the entire term of the policy.
Moreover, life insurance plans also provide many tax benefits under Section 80C of the Income Tax Act, 1961. The insurance company will decide the premium payment to the company by the policyholder.
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