For all parents, their children are definitely the most important part of their lives, in There are many major changes being introduced in the life insurance schemes, which may not be disclosed to you by your agents. “Life Insurance Plans” is a major insurance policy that most people rely on, so is definitely not misled from wrong information or hidden information is very important.
Though there is plenty of information, totally updated, available on the internet, most of the life insurance policyholders rely on their insurance agents. Maybe because of the limited internet usage by the senior age groups and tend to rely too much on the agents. When that is the case, choosing the right agents and taking the right guidance on life insurance plans is totally your responsibility. Always have the habit of questioning more to your agents, more so you can get to know the insurance plan details, in-depth.
Service Taxes in LIC Premium
Recently, Government has introduced service taxes of 3% in LIC Policy premium which has to be paid in addition to your policy amount. Initially, Government took this 3% amount from the premium payment, which might seem a burden to the investors, but the fact was that the amount bonus amount policyholders get in return was lessened. So, now that the amount is paid separately, the bonus amount customers withdraw will be wholesome.
Decrease in LIC Premium
Yes, you heard it right! There can be a possible decrease in your premium amount, as the mortality rates have been revised to give more margin on the premium amount for the policyholders. Learn the act of regulation related to all insurance policies you have purchased and cross-check with your agent to get the factual details. It is the sole responsibility of an investor. We all want to decrease the premium of LIC, but it’s easy.