I am planning to buy a term insurance plan. I had gone through your article regarding term insurance plan and found valuable info for purchasing a term plan. I am planning to split the insurance in 2 parts. One from the LIC as it has high claim settlement ratio compared to private sectors. Though the premiums are costly. I am planning to buy the second insurance from the company which has cheaper premiums as well as it provides various riders. I was checking different insurance companies plan on their website to check my requirements. When I checked the LIC website, I couldn’t find the term insurance plan. I came to know that LIC has withdrawn 34 policies in December. Below is the reference article.
http://www.thehindubusinessline.com/industry-and-economy/banking/lic-to-stop-selling-34-policies-in-december/article5410399.ece
Do you have any idea whether they have withdrawn term insurance plan also? If so then when are they planning to launch a new term plan. I guess since their premiums are twice as costly compared to others so they had planned to discontinue these policies.
Regards
Amit Gupta