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Why LIC term plan is so costly?

Because no other payment will be made to the policyholder in a term plan . So as far as insurance companies are concerned term plans are bit risky for them because for a very low premium they offer very high sum Assured. … Only 4 to 5 private insurers have this ratio more than 90%. Lic has 99.38% claims settlement ratio. Mar 25, 2017

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