LIC - Why LIC?

Modern day life has various needs such as a house to live in, a car to travel, jewels to wear, luxury to enjoy. We are in a competitive world for which we are supposed to provide quality education to our kids, to have a healthy lifestyle. Each of them needs money. We are forced to spend around 75% of our income for all these necessities. We often avail loans to meet those needs. In that process we tend to forget savings, general and life insurance.

Savings is an important aspect to lead a healthy life. In these turbulent and unexpected environment, periodic and regular savings is important to lead a balanced life. Every small amount we save today will have a major impact in our future. Savings coupled with life insurance will pave way for a peaceful future.


Why LIC is important? Since we avail as many loans as possible like housing, education, car loans we are aware that we are in a considerable amount of debt. Just in case if something unexpected event like major injury/life threat happens to us, our family will be exposed to a grave financial danger. To avoid that if we take proper life insurance in our name, by saving a considerable amount every month (atleast 15-20%) we can safeguard our family and provide them a good future. For example, if we have a loan for Rs. 35 lacs by means of house, car purchase, we can take an LIC policy for atleast 20 lacs to minimise the threat to our family in case of our absence.

LIC also returns around 7% of returns along with providing health, life insurance. We can also avail loans on the policy, get income tax benefits etc. We must make a habit of saving a good quality amount every month in LIC policies to ensure a balanced life. Those who love their families will understand this better. 

There are lots of highly rated schemes in LIC which can be availed now so that you plan tomorrow for your kids. Planning now will ensure a good quality education to your kids. The matured amount can be used for higher education/marriage for your kids. Also the amount can be used in your old age so that you wont be dependent on anyone.

So go ahead and start planning for a better future today. Email lic_rangarao@yahoo.co.in for more details.

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