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How Safe is My Money with LIC of India?

There have been some rumors of late questioning security of money invested in LIC policies and the same has deterred many from making new investments in LIC policies while many of the already invested ones have worried about it very much. While the fact is that there is no risk to the people who have invested in insurance policies of LIC as the security of the same is insured by the Government of India itself.

Investments in LIC insurance policies are secured by a sovereign guarantee provided by the Govt. of India as per an agreement executed between the corporation and the government and there is no risk to your investment as long as the government does not retract from its guarantee. The Sovereign Guarantee is not only applicable to the amount you invest in LIC policy but also on the bonus accrued on it. Hence, we can say that your investment with LIC of India is 100% safe and secure. For more details you may also read LIC Act, 1956.

While it is in the air that the IRDA has advised the government to withdraw its support from LIC, no such law has been declared yet, hence there is no reason to be worried about until the government really publicly announces any such thing.

LIC has countered such threads on social media platforms by publishing a clarification that there is no such thing exists in fact and that the money invested by the subscribers of its insurance policies are safe. The company has assured all its stakeholders about its ‘financial wellbeing’. The company has requested all its subscribers and prospective customers to pay no heed to such misleading unauthenticated news strings getting published from unrecognized sources on social media.

Considering above, it’s safe to say that the money invested in LIC policies is as safe as it is in any other government supported security is. So rest assured. Stay Invested. Keep investing. LIC policies are the best LIC investment plan for NRIs.

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LIC Plan for NRI child

One such investment plan for NRIs is LIC’s Children’s Money Back Plan or LIC Plan for NRI Child – something that offers regular savings with handsome returns and ensures to provide the right amount at the right time.

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Jeevan Umang for NRIs

LIC’s Jeevan Umang for NRIs is an ideal investment plan.  Jeevan Umang Insurance policy offers two-way advantages to its buyers. One is better to return on their investment and other is whole life protection.

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LIC Pension Plan for NRIs

The pension fund offers an incentive through the retirement annuity plan to save and collect funds and receive lump sum amounts as daily income. Read more at www.licfornris.com about the LIC pension plan for NRIs.

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Life Insurance for NRIs

If you are an NRI seeking LIC insurance for NRIs? Read on for the frequently asked questions about life insurance and term. We have other plans which can be purchased through our advisors.