I've stayed in India for couple of years and hence know a little bit about the market there. LIC stands for Life Insurance Corporation of India, and it's the oldest provider of life insurances in the country. it is government supported. _________________ Register Now to have your Insurance queries solved.
Right, LIC receives supports from the Government. It is government backed.
ICICI on the contrary is a bank and is providing life insurances in collaboration with the Prudential Insurance company of UK. It's completely private owned.
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An LIC is a TLA while an ICICI is a FLA not to be confused with an ILIT. Further an IUL isn't WL but ROPT is somewhat useful similar to ELIC.
A FPADB policy is good if properly funded but when designed as a MPLI it almost always becomes problematic.
Now a MEC is taxed LIFO which violates FIFO of NMECs yet SPWL is popular amoungst certain healthy SCs who pay more in CG tax than their SSB.
If you become DOA before the medical exam is completed the conditions of the CR have not been met while a NM issued GLIC would have proved best in that circumstance.
TYVM for YUA. _________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
can any one tell me what are the basic diffrence of the LIC, ICICI and other life insurance policies
I guess they are different insurance companies. The basic difference is the one is own by the government and the other one is privately owned. _________________ Free Insurance Quotes
Thanks OB!
