ULIPs and mutual funds are two popular yet distinct investment avenues, each coming with its unique set of benefits and drawbacks. Know which one is better for your individual needs and preferences.
LIC India is a reputed name in the life insurance industry, with the company also being India’s largest life insurance provider. Since 1989, it has made its presence in the Middle East for insurance products via LIC International, with the countries being Oman, Bahrain, Kuwait, and the UAE.
With respect to LIC endowment plans in the UAE, you can certainly look out for the LIC New Endowment plan. It is a participating non-linked plan which offers comprehensive benefits of life insurance, investment, and liquidity. Once the policy matures, you would be able to receive the sum assured along with the bonus accrued.
With that said, in case of the demise of the policyholder before maturity, the nominee will get the sum assured along with the bonus. It is, thus, different from a traditional life insurance policy that pays only upon the death of the policyholder.
Let’s go through all the important features and aspects of the LIC endowment policy in the UAE and how it can be useful for you and your financial planning over the long-term horizon.
Discussed below are some of the key attributes of the LIC endowment plan –
After exploring the major aspects of the mentioned LIC endowment plans, let’s now discuss the primary advantages of purchasing the LIC endowment assurance policy –
LIC endowment assurance policies are ideal for those who wish for a comprehensive policy that combines the benefits of insurance and investment. With benefits like high sum assured, affordable and flexible premiums, loan facility against the policy, and more, this LIC plan certainly makes for one of the best investment places in UAE.