LIC Agent in Nagpur

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LIC Insurance in Nagpur

                                                        We see advertisements for it numerous times when watching television and billboards put up across town, urging pedestrians to sign up for life insurance or advertisements for LIC in India. So what is Life Insurance exactly? Through our Introduction to Life Insurance section at BankandFinance.com we will teach you everything you need to know. It is a type of contract between two parties, usually an insurer and an insurance policy holder. An insurer is the individual who insures or protects the future of another in the form of money. He/she will pay the beneficiary (policy holder) a certain amount of money at the time of their death. This is done to protect the beneficiary from future financial worries and problems. When looking at India in particular, insurance is used to increase the individual’s personal finance and to plan for income tax payment. Over the last fourteen years, lifeinsurance has become a popular product among Indians and more individuals continue to purchase it by the day. When it comes to the size and popularity of a lifeinsurance company, LIC in India is definitely the leader. It offers a variety of insurance plans, each having specific attributes and benefits to enjoy. A unit-linked insurance plan (ULIP for short) is the most popular choice and insurance policy chosen by Indians and rightfully so because that policy holder can enjoy the benefits of both insurance and investment under this one plan.
An applicant must choose a policy from a life company if they want life insurance. The applicant must choose the insurer, who will ask about the duration of the policy, the name of the beneficiary and the total amount of money that the beneficiary has in mind. Once all the requirements have been agreed upon by the insurer and the applicant, the applicant signs the terms and conditions of the respective life policy provided by the life assurance company. In case the insurer dies unexpectedly, the beneficiary receives the total amount of money insured by the life company.

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