LIC (International) BSC (C) came into existence on the 20th of July, 1989 in the Kingdom of Bahrain in partnership with International Agencies Co. Ltd. (Intercol), with the objective of providing life insurance cover to the Indian Diaspora in GCC countries. The journey of LIC (International) BSC (C) is an exemplary story of sharing and fulfilling dreams and prosperity of thousands of NRIs.
LIC (International) enjoys a niche market position targeting Indian expatriate communities within the GCC countries. However, the Company got license to sell life insurance products to residents of any nationality in few markets. The Company is the well-known Indian brand. Its parent company, state-owned LIC of India, is the strongest and the largest Life Insurance Company in India with the market share of more than 70% in policies.
The Company has a strong and long track record of generating good returns to its policy holders. The Company has always lived up to the trust of its customers by delivering on its promises through product innovation, excellent customer service and adoption.
LIC (Int'l) has bagged number of awards and accolades including the prestigious MEIF 2012 from Central Bank of Bahrain, for its innovative products and customer service and Excellence in Insurance Dispute Resolution for Year 2020 by Insurance Authority, UAE.
Unit linked insurance plans, or ULIPs, are a type of insurance that combines investing and insurance. As an investment alternative, ULIPs are becoming increasingly popular. They are a single plan that combines investment and insurance. ULIP is the greatest option of investment, because it provides a lot of flexibility while limiting risks.
Savings is an essential component of any earning person's economic life. While there are several avenues of building one's savings, doing this through life insurance savings plan seems the best. Besides the contributions, one will also get some life insurance coverage and sum assured that it is many times bigger than the premium paid. Making savings through life insurance plans is an opportunity to build and safeguard funds for future. Endowment type of insurance plans offer guaranteed maturity benefits along with bonuses as maturity benefits.learn more
Wealth creation is the unique selling proposition of Unit linked insurance products, wherein most of the premium paid will be used for investment in various money market instruments to realise the maximum gains. Since plan returns are directly linked to market performance and the investment risk in investment portfolio is borne entirely by the policy holder, one needs to thoroughly understand the risks involved and one's own risk absorption capacity before deciding to invest. There are a variety of funds to choose from based on the investment objectives of the investor, risk appetite, and investment horizon.learn more
Term insurance plans give this type of insurance coverage without any maturity benefit or in some plans, with return of premiums paid. These are cheaper insurance plans without any savings element. Term insurance is less expensive Unlike most types of insurance plan, term insurance has only the guaranteed death benefit from the policy.learn more