I had jeevan labh LIC policy which was going on for 6 years but upon surrender I received almost 80% of the total premium. It's important to note here that you even receive the bonus accumulated till the date of surrender in addition to the surrender value.
I'm just glad that in comment section there are logical, unbiased n honest views abt LIC... comment section is more informative dan this vdo. Experience n educated people r tokin in comment section
I think this episode is biased. LIC also sells term plan even though agents don't push for it. Secondly regarding the savings plans, all insurance companies sells similar plans. Next, IRDAI has mandated the paid up policy option. This was not discussed. Eventually, one can not blame a company for his or her lack of knowledge. One has to do research before buying a policy that could last several decades. In fact, I have learnt a lot through channels like Ditto.
Hi there, We have a dedicated Hindi Channel for our Hindi speaking audience. Please feel free to check it out here - www.youtube.com/@DittoInsuranceHindi
Basically endowment policy have different goals... Like mentioned in this video if u got jeevan labh or jeevan anand it will give you tax free returns upto 7-8% but jeevan lakhshya gives you less return but about 70-95 times risk cover based on your premium... But gets you return of about 6 to 7% so there is lots of variety in endowment category just chose wisely
LIC has term insurance... You can buy it online easily... But agents won't pitch to sell you LIC term plans as the commission is less for term plans when you compare it to endowment plans for the agents
@@Akshansh_S term insurance premium varies. It depends on whether you have any PEDs etc. so it won't be 100% accurate.. but to get an idea u can simply do online search.. else u can simply visit your nearby LIC office... However, what I have heard is that LIC term insurance premiums are 10-15% more expensive than their private organisation counterparts...
Yes because insurance premiums depend upon your age, health , mortality of the country therefore some documents are required to calculate a precise premium I guess.
But LIC agents sell all the crap endowments and pension plans. Never a proper Term insurance. They have been fooling public for decades now. Only ones who are well off with these draconian policies are agents themselves. Biggest liars and fraudsters in the country are LIC agents. Period.
Defamatory wrong article... If term plan is the best for financial security as per financial advisors,then LIC also sells the same. Then how come all yhe products of LIC be a waste of money.. secondly,why only target LIC?.. All the life insurance companies more or less sells the same products with almost identical features. Then if anyone has problem with returns,why did this video mentioned only LIC & not other life insurance companies as a whole in this video? Time to file a legal suit and defamatory action on ditto for specifically tarnishing image of one company DELIBERATELY based on half facts & lies💯.. see you in court
I think he is telling other companies products are better than LIC may be that's true, never heard any LIC agent suggesting term looks like their commision would be less in term insurance.
Your answer lies in your comment itself. 'Never heard'.. You never heard that doesn't mean LIC agents don't pitch term plan.. It's never about comission as all the insurance products or rather I would say all financial products are offered by customising/tailored in such a way that needs of every different types of investors are fulfilled. There is not a single insurance or financial product in entire world which is not useful. It's just about specific needs of investors. LIC or any life insurance company do offer annuity/single premium investment plan,where comission to agents is lowest as compared to any other life insurance products. But such annuity/single premium investment plans form one of the highest business for life insurance companies and hence that would not have been possible without agents not pitching or selling them. My experience says not only in insurance business,but any business if needs of customers are prioritised and met,then ONLY an person (here in our case insurance agent) would be successful in long run. Else, everyone knows the ratio of active and inactive agents in insurance industry,and even among active agents how many are successful in long run with handsome earnings. @@ramram99111
I had jeevan labh LIC policy which was going on for 6 years but upon surrender I received almost 80% of the total premium.
It's important to note here that you even receive the bonus accumulated till the date of surrender in addition to the surrender value.
😂😂😂
People buy Lic because Govt security, active Agent, people having less information about mf or other insurance, less income people tend to go for lic
I'm just glad that in comment section there are logical, unbiased n honest views abt LIC... comment section is more informative dan this vdo. Experience n educated people r tokin in comment section
I think this episode is biased. LIC also sells term plan even though agents don't push for it. Secondly regarding the savings plans, all insurance companies sells similar plans. Next, IRDAI has mandated the paid up policy option. This was not discussed. Eventually, one can not blame a company for his or her lack of knowledge. One has to do research before buying a policy that could last several decades. In fact, I have learnt a lot through channels like Ditto.
I think u guys should avail this video more than 1 language, as the most of the audience understand Hindi, Tamil and other regional language
Hi there,
We have a dedicated Hindi Channel for our Hindi speaking audience. Please feel free to check it out here - www.youtube.com/@DittoInsuranceHindi
My family has some lic policy. But none of them gave more than 6% return on maturity. 8.22% return on lic is a hoax
😂😂😂 LIC gives max 3-4% returns not 6%. It's the biggest fraud company of India
Exactly my family also many policy mature but never get above 6% ....above 7% in LIC policy is next to impossible
Basically endowment policy have different goals... Like mentioned in this video if u got jeevan labh or jeevan anand it will give you tax free returns upto 7-8% but jeevan lakhshya gives you less return but about 70-95 times risk cover based on your premium... But gets you return of about 6 to 7% so there is lots of variety in endowment category just chose wisely
Actual return is somewhere around 7%. Real return, given the decreasing LIC bonus rate over the years could be around 6.5%
@@saradendukarmakar5052 yeah you could be right... It should correlate with market returns of fd over the years
LIC also sell term policy. Check LIC yuva term plan one of the best and cheap term plan in market.
I was looking for LIC term insurance but couldn't find how to buy it without an agent
LIC has term insurance... You can buy it online easily... But agents won't pitch to sell you LIC term plans as the commission is less for term plans when you compare it to endowment plans for the agents
@@Andromeda_123 Yeah, but online only though Lic website. And that too they ask all documents etc before telling me the premiums 😔
@@Akshansh_S term insurance premium varies. It depends on whether you have any PEDs etc. so it won't be 100% accurate.. but to get an idea u can simply do online search.. else u can simply visit your nearby LIC office... However, what I have heard is that LIC term insurance premiums are 10-15% more expensive than their private organisation counterparts...
Yes because insurance premiums depend upon your age, health , mortality of the country therefore some documents are required to calculate a precise premium I guess.
Which company giving term insurance to lower and middle income people??
Come to reality bro...😂😂
But LIC agents sell all the crap endowments and pension plans. Never a proper Term insurance. They have been fooling public for decades now. Only ones who are well off with these draconian policies are agents themselves.
Biggest liars and fraudsters in the country are LIC agents. Period.
Defamatory wrong article... If term plan is the best for financial security as per financial advisors,then LIC also sells the same. Then how come all yhe products of LIC be a waste of money.. secondly,why only target LIC?.. All the life insurance companies more or less sells the same products with almost identical features. Then if anyone has problem with returns,why did this video mentioned only LIC & not other life insurance companies as a whole in this video? Time to file a legal suit and defamatory action on ditto for specifically tarnishing image of one company DELIBERATELY based on half facts & lies💯.. see you in court
😂😂😂 Aagya faltu LIC ka agent. Sabse ghatiya aur fraud company hai LIC. Baaki saare bhi fraud hi hain lekin LIC no 1 ka fraud😂😂😂😂
Good
I think he is telling other companies products are better than LIC may be that's true, never heard any LIC agent suggesting term looks like their commision would be less in term insurance.
Your answer lies in your comment itself. 'Never heard'.. You never heard that doesn't mean LIC agents don't pitch term plan.. It's never about comission as all the insurance products or rather I would say all financial products are offered by customising/tailored in such a way that needs of every different types of investors are fulfilled. There is not a single insurance or financial product in entire world which is not useful. It's just about specific needs of investors. LIC or any life insurance company do offer annuity/single premium investment plan,where comission to agents is lowest as compared to any other life insurance products. But such annuity/single premium investment plans form one of the highest business for life insurance companies and hence that would not have been possible without agents not pitching or selling them. My experience says not only in insurance business,but any business if needs of customers are prioritised and met,then ONLY an person (here in our case insurance agent) would be successful in long run. Else, everyone knows the ratio of active and inactive agents in insurance industry,and even among active agents how many are successful in long run with handsome earnings. @@ramram99111
Why do people even buy LICs?
actually people dont buy they are forced to by some uncle in the family 😁😁
I buy Lic because of government security, sovereign guarantee, tax benefit and Best term insurance policy.
They have been duped into buying these ghatiya policies by family relatives, friends, distributors and agents.
So you have bought only term insurance or endowment plans also?@@PujaSingh-z2p
So you have bought only term insurance or endowment plans also?@@PujaSingh-z2p
@LIC
Please study the phrase 'reduced paid up policy of l I c'