Is there anything great to buy from LIC

Dear Vinay,

When it comes to insurance cover one must have pure term insurance, comprehensive health insurance, critical illness cover and personal accident insurance with temporary disability & permanent partial disability cover would be sufficient.

It is advisable to keep insurance and investment separate and not to put any monies in traditional plans of LIC or other insurers.

If you are in 30s it is advisable to invest in Equities, but not advisable to invest through ULIPs though. If you are conservative person and still want to put some amount in insurance product for retirement please put money in pure pension plans and not the endowment policies.

Hope we have addressed your concerns, let us know if you still have any further questions in this regard.

Cheers..

Dear Vinay

LIC has suitable product for every need like children education , retirement, pure protection , pure investment , money back .

You do your need analysis and take help of a LIC advisor who will recommend suitable product .

You must add critical illness and personal accident and disability rider with your term policy .

With term insurance , you have completed your family protection need however your living needs can be taken care through LIC or Mutual Funds .

It all depends on your choice .