LIC Vs Private Insurers

POSTED BY Vidyasagar ON January 7, 2011 7:04 pm COMMENTS (2)

Hello All,

Some of my family and friends are against me taking insurance from private institutions like Kotak, ICICI etc., are their fears true?

I believe as far as there are regulatory authorities like IRDA etc., it doesn’t matter if its a private institute or state owned LIC. Please provide your comments.

Thanks in advance.

-Sagar

2 replies on this article “LIC Vs Private Insurers”

  1. randomguy says:

    Are your friends/family members LIC agents(heartless/brainless suckers)?? I have a few such people surrounding me(not anymore!) and guess what they didnt get much from me. Small amount of money I parted with(emotional decision) didnt do me any good and I made sure that they knew it.

    When I decided against investing through LIC/ULIPs, I was called all sort of names and had many explanations/criticisms from family members/relatives/friends-stingy, greedy, you dont know your roots, unhelpful, uncaring, it is their livelihood, what will they do without their LIC policy business and much more. Dont know whether I deserve all the definitions mentioned!!

    But hey, life is risky. As someone said, if you dont want to take risk, you shouldnt be living!! A very good quote.

  2. Ramesh says:

    You are correct in your assumption. And their fears do not have any reasonable basis.

    Ramesh

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