LIC Best Plans

LIC Best Plans

Which is the Best Plan in LIC? Weather it is a Term Life Insurance Policy or ULIPs?

Basically there are 2 types of Insurance Plans available with LIC and any other Insurance Company.

- Term Life Insurance Plan &

- ULIPs (Unit Linked Insurance Plans)

Many Insurance agents will now advise you to invest in ULIPs because they argue that the ULIPs have the combination of Insurance + Investment. But well, I would not recommend anyone to go for ULIPs because ULIPs are nothing but the kind of opaque mutual funds which charge you anywhere from 10-20% as administrative and other financial charges.

Remember, Never Mix Insurance with Investment. Because It’s a Bad Combination.

So rather than going for ULIPs, it is advisable to invest in Term Life Insurance Policy separately and Mutual Funds separately. I advise anyone to go for term life insurance policy and the equity diversified mutual fund.

This is because the mutual funds have 0 entry load and minimal fund management charges.