LIC New Tech Term is a term insurance policy offered by Life Insurance Corporation of India (LIC), the country’s oldest life insurance company founded in 1956. Term insurance is one of the most cost-effective ways to ensure your family will have a secure financial future. With this plan, your family will be paid a sum of money as a death benefit, in case your death happens during the term of the policy. This money can help them meet their monetary needs, while not compromising on their current lifestyle - as well as pay off any pending loans or liabilities you might leave behind.
This product offers several choices for tailoring how your family receives the claim amount and includes customizations like increasing cover. However, it is more expensive than other plans and doesn't allow you to choose a critical illness rider or many limited pay options. According to our research, the insurer has received fewer complaints related to claim settlement and policy purchase, indicating a good track record in both the purchase process and claims service experience.
LIC also known as Life Insurance Corporation of India is an Indian Life Insurance Company. Founded in 1956, it is owned by the Government of India. The company is headquartered in Mumbai its chairman is Mr. Siddhartha Mohanty.
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