LIC has designed a new scheme of money plus tht ensures quite profit...but togethr thr r some critics which say tht it is not tht profitable...if any one has correct information thn plz help..?
The new scheme of LIFE INSURANCE CORPORATION (L.I.C) known as MONEY PLUS is successful nd profitable..?
Life insurance is not an investment, it is an insurance contract. When a company says your life insurance can make profit, they really are saying that their company will make lots of profit off of your policy. Money in a life insurance contract does not belong to you. If you want to use it at anytime, you can borrow it. If you die someday, you lose it all. So, its a win-win situation for the insurance company, no matter what you do with the policy.
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