LIC of India: Where Every Policy Builds a Legacy

Introduction: Insurance with Purpose and Legacy

Insurance is often seen as a tool to shield families from uncertainty. However, today’s financial landscape demands more than simple protection. Insurance must serve as a long-term financial instrument, helping families grow wealth, plan milestones, and leave a lasting legacy. Whether the goal is your child’s education, retirement, or securing a spouse’s future, the right insurance policy does more than guard-it grows. LIC of India, the country's most trusted insurer, transforms policies into building blocks of generational wealth.

Through every premium paid, every bonus earned, and every claim settled, LIC doesn’t just secure a future-it builds a legacy.

Legacy Begins with LIC

LIC of India: A Legacy Built on Trust

Founded in 1956, LIC of India (Life Insurance Corporation of India) has stood as a pillar of trust in the Indian financial sector for over six decades. It is a government-owned institution built with the purpose of providing life insurance to every Indian household. Over the years, LIC has maintained its relevance by adapting to changing economic conditions, integrating technology, and offering customer-centric solutions—while upholding values of integrity, service, and social responsibility.

Its consistent high claim settlement ratio and massive customer base make LIC a leader not only in scale but in trustworthiness.

Why LIC Policies Are Legacy-Building Tools

Unlike short-term investment options, LIC policies are structured with long-term stability and multi-dimensional benefits. They are designed to accumulate value, offer risk cover, and provide financial continuity. Key features include:

• Comprehensive life cover for policyholders

• Guaranteed returns and annual bonuses

• Loan facilities without disrupting investment value

• Tax-free maturity benefits

·       A variety of programs are available from LIC, each of which addresses particular financial objectives and demands.

These features ensure that the financial future of your family is not left to chance. A policy from LIC becomes more than paperwork—it becomes a dependable financial asset.

Diverse Plans for Different Life Goals

LIC offers a range of plans, each catering to unique financial needs and goals. These include:

1. LIC New Jeevan Anand

This endowment plan offers both savings and life coverage. It ensures a lump sum payout at maturity and continued protection thereafter. It’s ideal for people seeking security during and beyond the policy term.

2. LIC Jeevan Labh

A limited premium paying plan that provides attractive returns with fewer installments. This plan suits individuals aiming to build wealth over a short period while maintaining a high coverage value.

3. LIC Jeevan Tarun

Designed for children, this policy supports their future educational or personal needs. Parents can start building a corpus early while ensuring that their child's financial goals are always protected.

4. LIC Jeevan Umang

This is a whole life plan offering regular annual payouts from the end of the premium-paying term until the policyholder’s lifetime. It helps generate income and secures family benefits.

5. LIC Saral Pension

An annuity plan that begins providing pension immediately. It guarantees lifelong income and is ideal for securing post-retirement financial independence.

Creating Wealth While Staying Insured

One of the most significant advantages of LIC policies is the dual benefit of insurance plus savings. The premiums you pay are not lost expenses—they are invested in safe and regulated funds that accumulate returns. LIC offers:

• Reversionary bonuses

• Loyalty additions

• Maturity sum assured

• Optional riders for enhanced coverage

This financial strategy allows policyholders to grow their wealth while ensuring their families are shielded from life’s uncertainties. It’s a balanced approach for risk-averse investors who prefer guaranteed outcomes over market-linked volatility.

Tax Advantages That Enhance Returns

LIC policies provide attractive tax benefits under the Income Tax Act:

• Section 80C: Premiums paid are deductible up to ₹1.5 lakh annually.

• Section 10(10D): Maturity proceeds are tax-free, subject to specified conditions.

These benefits not only reduce taxable income but increase the effective return on your investment-making LIC plans a smart choice for both personal finance and legacy planning.

Embracing Digital Innovation for Better Service

LIC has modernized its infrastructure to offer seamless digital services:

• Online policy purchase and renewal

• Mobile apps for managing policies

• Digital payment gateways

• Online claim intimation and tracking

• E-policy documents and updates

These features make policy handling more transparent and user-friendly, especially for younger investors who prefer digital convenience. It ensures that your legacy remains easy to manage and transfer to beneficiaries without paperwork hassles.

LIC’s Claim Settlement: A Commitment Fulfilled

LIC has consistently maintained one of the highest claim settlement ratios in the industry-over 98% in recent years. This means that policyholders and their families can depend on timely disbursal of claims, reducing financial stress during emotional hardship.

Beneficiaries can access claim assistance both online and through LIC’s extensive branch network across India. This efficiency strengthens the legacy that the policyholder aimed to leave behind.

Inclusive Products for All Socioeconomic Segments

The corporation also provides special policies for women, senior citizens, and rural communities-empowering every citizen to think beyond today and plan for generations.

A Legacy That Lives On

Every policy you buy from LIC contributes to a broader vision of family welfare, national economic strength, and personal financial freedom. Here’s how:

LIC Feature	Legacy Impact
Life Cover + Bonuses	Financial protection and wealth accumulation
Tax-Free Maturity	Entire benefit amount reaches family
Annuity & Pension Plans	Enables independence and posthumous continuity
Child Plans	Safeguards the next generation's aspirations
Easy Claim Settlement	Peace of mind for loved ones

These impacts are not just financial—they’re emotional, cultural, and intergenerational.

Conclusion

Planning for tomorrow means acting today. Every LIC policy you invest in is more than a document-it's a promise that your family’s future will be safe, stable, and dignified. With expert guidance and trusted plans, you can turn your vision into a reality.

Square Insurance proudly supports your journey by helping you choose and customize LIC policies that secure not only lives-but legacies.