Question: Which Is Better LIC Or Post Office?

How do I become a postal life insurance agent?

How to register for PLI/ RPLI online services.

Register Mobile number & email id: Visit your nearest post office with request in writing for registering mobile number and email address, if not done while taking policy..

Why is LIC bad?

The problems with LIC is that it provides sub-optimal returns to the government, its shareholders, and to policyholders. To be sure, LIC will remain India’s largest life insurance company for at least this decade. It has a market share 66.24 per cent in total first-year premiums and 74.71 per cent in new policies.

Is LIC better than FD?

Fixed deposit is always a better option to invest as it is purely designed for your investment and savings related needs. … Fixed deposits offer fixed returns on investments and it is mentioned in the beginning when you open your deposit. But, investment in Unit Linked Life Insurance Plans is subject to market risk.

How much do LIC agents earn?

Career as a LIC agent is considered one of the highest paid profession in the country. Top performers in LIC are earning nearly 3 to 4 Crores per year. LIC agent can earn unlimited since there is no specified salary. They get a commission from the policy they sell and they can earn more than their capacity.

How good is postal life?

PLI is a contract entered into by the government to pay a given sum of money on the death of an insured to his nominee or himself, if he survives that period. PLI is a good option for people, who are ‘eligible’ for it, as it charges lower premiums and offers higher returns than comparable policies of life insurers.

Which policy is best in post office?

SynopsisInstrumentInterest rate (%) from 01.07.2020Max amt (Rs)Senior Citizen Saving Scheme7.4015 lakhSukanya Samriddhi Account7.601.50 lakhPublic Provident Fund7.101.50 lakh per annum5 Yr NSC – VIII Issue6.80No limit6 more rows•Sep 10, 2020

Is postal life insurance maturity amount taxable?

Yes, premiums paid towards PLI are tax exempted as per Section 80C of the Income Tax Act, 1961. … Is Postal Life Insurance maturity amount taxable? No, the maturity amount will be taxable only if the sum assured in less than the prescribed limit.

How is postal life insurance premium calculated?

In order to calculate the premium for the plans using Postal Life Insurance premium calculator, the following details are required:Date of Birth.Gender.Sum Assured.Policy Name.Policy Cease Date.Monthly Income.Mobile Number.Email ID.More items…•

How do I surrender my post office life insurance?

Children policy can be surrendered after 60 months. No surrender for AEA policy. Bonus will be taken into account after 5 years for surrender value calculation on the paid up value. But surrendering any policy prematurely is always a loss to the insurant.

Which is best LIC plan?

LIC Jeevan Umang LIC Jeevan Umang comes with the dual benefit of earnings as well as savings for the secure future of your family. It is one of the best LIC plans with-profit & non-linked whole life insurance plans. The plan offers a 100 years cover which is quite an exceptional feature of the insurance policy.

Is LIC a good investment?

Is LIC Plan a good investment? Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.

Is there any LIC policy for 5 years?

Jeevan Mangal Plan by LIC is a term insurance plan which can be brought for a term of 5 years only through the single premium payment option that pays returns in the form of a premium on the maturity of the plan.

Which LIC plan is best for child?

Best LIC Policy for ChildLIC Children Money Back Plan. LIC Child Money Back Plan is a traditional, participating money-back insurance policy which pays the benefit in important times/ages of the child to ensure the child receives the required finance for higher education and marriage. … LIC Jeevan Tarun.

What are the benefits of postal life insurance?

Postal Life Insurance offers an endowment assurance policy with the following features and benefits:A traditional endowment plan that provides a guaranteed sum assured and accrued bonuses on maturity.Postal Life Insurance policyholders can choose to convert the plan into any other endowment plan.More items…

What is yugal Suraksha policy?

Joint Life Assurance (Yugal Suraksha) It is a Joint Life Endowment Assurance in which one of the spouses should be eligible for PLI policies. Life cover to both spouses to the extent of sum assured with accrued bonus with a single premium.