Category Archives: LIC

LIC of India Term Insurance Plan Review from TruCompare

LIC of India logo

Company: LIC of India

Product Name- Amulya Jeevan         

Product features:

  • Minimum sum assured of 25 lakhs
  • Maximum sum assured- No limit
  • Available up to 35 years duration
  • Maximum Age at Entry – 60 years
  • Maximum Age at Maturity- 70 years

Company’s pitch:

  • The oldest and most trusted Life Insurance company in India

Our view:

  • PLUS- LIC of India has the best IRDA Claim Settlement Ratio of more than 97%. Check here for comparison with others.
  • PLUS- LIC of India has one of lowest customer churns.Check here for comparison with others. Excellent customer support.
  • MINUS- The price is VERY HIGH as it is an offline policy. It costs almost 3-4 times a similar policy by Aviva Life Insurance or HDFC Life who have decent IRDA claim settlement ratio.

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