Mar 06, 2007 01:07 PM
2458 Views
LIC, the grand daddy of Indian insurance companies is definitely the safest bet when it comes to investing in insurance. Since insurance works on the basic principle of cummulative risk coverage, with 19, 00, 00, 000 customers, LIC has the largest investment base in this sector. What this translates to for the investor is assured returns and reasonably assured bonuses.
In addition, with an excellent network of committed service agents, LIC provides unprecedented customer service and support as compared to other providers. All to often one is lured by a customer service agent to purchase policies from other vendors, only to find that the CSA is no longer with the insuring company when it comes to providing after-sales service such as premium collection, claims settlement etc. In fact, this is probably the reason behind LICs success.
My agent has been with me for more than 10 years. This level of personalisation and support is difficult to beat. My experience with other providers has been so bad that in some cases I was happy to rescind the policy rather than go through the hassle of running to some obscure location to pay premiums.
