LIC International Janraksha Review

LIC International Janraksha Review

LIC International Janraksha is the Endowment Life Insurance policy.

Here are its key features.

• This plan is similar to an Endowment Assurance plan with the special additional feature of a 3 year free risk coverage, even if premiums are defaulted after payment for 2 years. This policy is most suitable for persons who are not sure of a regular income every year and who expect their income position to improve after a short while.
• This plan is made friendly solution of insurance and to face the challenges posed by the uncertainties.
• For example, farmers or contract employee who experience discontinuity of income at intervals would find this plan beneficial.

My Opinion -

The only thing I don’t like about Endowment plans is, they are highly opaque means they don’t shown anywhere that how much premium will be go towards life insurance cover and how much premium will go towards long term income to generate income.

So in my opinion, it is always better to have a term life insurance to protect your life and equity mutual funds to build a long term retirement corpus.