LIC (International) conveys its heartiest greetings to His Majesty King Hamad, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, and the people of Bahrain on the kingdom’s 48th National Day.
For the past three decades, LIC (International) has been providing life insurance and annuity along with investment benefits to fulfil the dream and security of thousands of non-resident Indians and locals in the GCC.
It has enjoyed strong brand connection amongst the Indian diaspora in the region due to its parent company, LIC of India, which is a household name on the Indian subcontinent.
Promoter
LIC of India is a promoter of LIC (International) and presently has an asset base of $2 billion with 1.18 lakh policies in the GCC.
The company underlines the importance of having life insurance as one of the important elements in the portfolio of an individual’s savings basket.
Many people avoid buying life insurance as they either find it complicated or think that it is too early for them.
Their concerns reflect a lack of proper information and a plethora of choices.
Financial planning is a dynamic process that involves charting an individual’s financial goals and long-term objectives in conjunction with ways and means of achieving those goals and objectives.
Inflation, individual shift to nuclear families and changing economic lifestyles makes it imperative to focus on financial planning at an early stage.
An individual’s financial plan should be customised to meet his or her individual needs at different stages of life and it is important to have a balanced mix of instruments to address the various needs of protection, savings and wealth creation.
Changing circumstances like marriage, purchase of a house, a child’s education and the like mandate that the financial plan evolves to meet these objectives within the given timeline.
Today, an individual has an array of options to choose vis-à-vis financial planning.
People often tend to focus on the wealth creation aspect of financial planning at the cost of protection.
While the basic premise of life insurance has always been protection, certain products also provide the flexibility of being used as long-term savings and wealth creation tools.
These products allow the individual to systematically save over the long run and generate returns to create a corpus that can be used to fund different milestones such as a child’s education/marriage, or retirement.
Saving
Insurance products as a saving instrument not only provide risk cover but also build an asset for the family in case of uncertainty of life.
LIC International serves as one contact point to address all needs of financial planning through its basket of insurance products.
One can buy a pure protection plan which is a term plan called Pure Term Assurance with minimum premium to cover life risk, or HealThee which covers risk of life along with securing financial assistance at a time when the customer is affected by serious ailments.
Participating Endowment Plan gives you the opportunity of earn returns along with risk cover at a later stage in life.
These plans are most affordable at an early stage.
There is also a specific Marriage Endowment Plan which takes care of financial needs when the child becomes eligible for marriage and Education plans such as Professional Education Plan and Participating Marriage/Education Plan which ensure that your child’s education is not compromised.
Income
One can also plan guaranteed income for life after retirement through pension plans such as Deferred Annuity Plan (with/without life cover), Immediate Future Secure Pension Plan and Deferred Future Secure Pension Plan.
LIC International offers different plans in sync with specific needs of an individual during all stages of his/her life.
For more information, call 17210610 or 39936618 or WhatsApp on the same number.