Life Insurance Corporation (Lanka) Ltd - LIC Lanka recently announced launching of its new life insurance product to the market. LIC is the local arm of India
Explaining the key features of the Pure Life Insurance product, Jagannath CEO/Managing Director of LIC Lanka pointed out that this Pure Life Insurance Policy provides financial benefits in the event of death. The primary value of Pure Life Insurance is to fulfill financial responsibilities of a person to his family members in the event of his unfortunate death. LIC Lanka Pure Life Insurance policy if taken for long period the premium is very much less.
Generally, financial advisors and other experts readily recommend Pure Life Insurance policy as a means to cover potential expenses, until such time that there are sufficient funds available from savings, to financially protect those persons whom the life insurance coverage was intended to protect. For example, an individual might choose to buy a life insurance policy which would expire close to his/her retirement age, based on the premise that, by the time the individual retires, he or she would have amassed sufficient funds in retirement savings to provide financial security for their dependents