life Insurance

  A life insurance policy is a contract between you and an insurance company. In exchange for regular premium payments, the insurance company guarantees to pay a death benefit to your designated beneficiaries if you die during the policy term. This can provide financial security for your loved ones and help them cover expenses like your funeral costs, outstanding debts, and living expenses. Here's how a life insurance policy typically works: You choose a policy: There are many different types of life insurance policies available, each with its own features and benefits. You'll need to decide what type of coverage you need and how much you can afford to pay in premiums. You apply for the policy: The insurance company will ask you some questions about your health and lifestyle to determine your eligibility and risk. You pay your premiums: Once you're approved, you'll need to start making regular premium payments. The amount of your premium will depend on

  LIC's Jeevan Labh (Plan No. 936, UIN No. 512N304V02) is a participating endowment plan that offers both life insurance and savings benefits. Here's what I know about it: Key Features: Limited premium payment term: You only need to pay premiums for a limited period, even though the policy term might be longer. Maturity benefit: Upon policy maturity, you receive the sum assured along with any accrued bonuses. Death benefit: In case of unfortunate death during the policy term, your nominee receives the sum assured along with any bonuses. Participating plan: You're eligible to share in LIC's profits through bonuses declared by the company. Tax benefits: Premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. Maturity and death benefits may also be tax-free under certain conditions. Additional Information: The UIN (Unique Identification Number) you provided helps identify your specific policy. To get more detai