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LIC policies provide financial security through life insurance coverage, offer tax-saving benefits and can include additional features like maturity benefits, accidental death & disability riders too.

Yes, many LIC policies provide maturity benefits, which include the sum assured along with bonuses or any additional benefits, depending on the type of policy.

Yes, LIC policies qualify for tax deductions under Section 80C for premiums paid, and the maturity benefits are tax-free under Section 10(10D), subject to certain conditions.

LIC policies offer various riders, such as accidental death benefit, critical illness benefit, and disability benefit, to enhance the coverage according to individual needs.

A policy loan allows policyholders to borrow a certain amount against the surrender value of their LIC policy, which must be repaid with interest.

Yes, you can change the nominee of your LIC policy anytime by submitting a request to LIC with the necessary documentation.

Depending on the type of policy, you may be able to withdraw part of the accumulated funds or surrender your policy for its surrender value before maturity.

If you stop paying premiums, your policy may lapse, but some policies offer a grace period or convert to a paid-up policy, where the coverage reduces based on the premiums paid.

Yes, LIC policies, especially endowment and ULIP plans, are ideal for long-term investments, providing financial security and wealth-building opportunities over time.

LIC policies accumulate bonuses based on the company’s performance, which are added to the sum assured and paid out at maturity or in case of a claim.

Par Plans offer potential bonuses and higher returns, while Non-Par Plans provide fixed, guaranteed benefits and predictable payouts.

To claim policy benefits, you need to submit a claim form along with the necessary documents (like proof of death, medical reports, etc.) to LIC, who will process the claim accordingly.