LIC Agent in Nagpur

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  Wealth creation

Since most of the life insurance policies in India are still sold as “savings and investment”, endowment plans( also known as traditional life insurance plans) are the most popular of the products. This trend was started by LIC of India ( oldest insurer in India) whose agents goaded investors to save and invest for the long term for their retirement or for their children’s education and marriage. Indians being the great savers they are, were easily lured into such plans. In other cases, these life insurance plans have been sold as the best “tax saving instrument”. And the reason for pushing these have been the commissions earned by the agent of LIC of India for these plans. Now look at the reality of wealth creation by such life insurance plans.

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