LIC (International) Bahrain has served the people of Bahrain for the last 30 years by offering need-based life insurance products.
The company enjoys the great support from its parent organisation, the Life Insurance Corporation of India, which is a household name with a capital base of $440 billion and a 250 million customer base.
LIC products provide need-based benefits from birth to 75 years of age and products not only take care of providing an alternative capital base to the family in case of the life assured’s absence but also an array of benefits which cater to and provide financial support with competitive returns.
The uncertainty in life has been growing rapidly with the changing social structure to the nuclear family, increasing life span, uncertain interest rates, escalating cost of living and medical expenses.
The present scenario calls for such financial instruments which provide a secured source of funds to serve as the best alternative to the above contingent needs which is inevitable.
The Immediate Future Secure Pension is a one-time premium payment with immediate annuity.
The plan provides guaranteed return for five, 10, 15 and 20 years and for life thereafter.
The constant flow of income takes care of the tension which may arise in case the customer does not have any source of regular financial income or someone to fall back upon.
Customers have the freedom to choose contributions starting from $15,000 upto an unlimited amount and gives the option for a flow of income ranging from five years up to life-long.
The customer also has the option to choose a guaranteed constant flow of income for self, spouse and secure return of the total capital contributed for purchase of the pension.
The uniqueness of the product is its availability only through LIC in the entire GCC region.
The Professional Education Plan takes care of children’s education and provides financial support as needed. It is a general experience that the expenses incurred for a child’s education are increasing.
Once the child turns 17 or 18 years, they endeavour to get entry into a professional or skill-oriented educational course. This calls for the outlay of substantial funds which appropriately fits into taking care of the child’s educational needs.
LIC provides a range of insurance coverage between $500 and $250,000 for children aged 0 to 13 years. It provides a constant flow of financial support by payment of 20 per cent of sum assured every year from the age of 18 years to 22 years and the guaranteed addition and loyalty addition, if any, at the age of 23 years.
Customers also have the option to choose staggered payments of 15 per cent sum assured from the age of 18 years for five years and 25 per cent in the sixth year.
The uniqueness of this product is that it provides premium waiver benefits option to customers by payment of a nominal extra premium which takes care of the liability of future premium payments in case the parent meets with any eventuality.
The economic security is assured for the child in the given circumstances and the desired education continues.
For more information, call 17210610 or 39936618, WhatsApp 39936618 or email rm.bah@licinternational.com, or visit www.licinternational.com.
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