Use the following tips to get more profit to any insurance policy holder
- Choosing the best LIC agent is very important. Agent should know all the details regarding all insurance policy. Then only we can choose the best policy among all insurance policy. We should ask all details regarding insurance policy and pamphlet also.
- Take the policy as early as possible. Because main aim of the insurance policy is to safe and secure your family when any risk happen to us.
- 15 years or 20 years policy is better than 5 or 10 years policy. Because LIC OF INDIA gives more bonus value to long term policy. If you choose long term policy you can get more profit.
- You should pay premium amount atleast 3 years continuously. Otherwise you can not close the policy. Please avoid this situation.
- Don't delay to pay premium amount. If delay happens you should pay premium amount with some penalty amount. So pay premium amount with in due date.
- Don't close the policy before actual maturity period you taken. Because closing before maturity period will not give you more bonus value and some penalty amount is also there for closing policy before maturity period. So close after maturity period.
- Close the policy immediately after the maturity period. Don't keep the policy in LIC OF INDIA without closing after maturity period for long time. Because LIC OF INDIA gives only 8% interest amount for your maturity amount after the maturity period. So close the policy after the maturity period immediately.
- Four types of premium payment mode available in LIC OF INDIA. Monthly, quarterly, half yearly, annually. Annual premium payment is better than half yearly premium payment. Half yearly premium payment is better than quarterly premium payment. Quarterly premium payment is better than monthly premium payment. If you choose monthly premium payment mode, your premium amount is slightly higher than quarterly premium payment mode.
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