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Question
Insurance is a kind of protection against financial losses. The Life Insurance Corporation of India (LIC) mainly looks after the insurance of a person’s life. It also has policies like new children’s money back policy, health plans and pension plans.
In this context, answer the following question:
Name any two types of LIC policies.
Very Short Answer
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Solution
Two common types of LIC policies are Endowment Plans (which combine savings and protection) and Term Assurance Plans (pure protection)
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