BusinessPhoto: NDTV BusinessIs Taking a Loan Against LIC Policy Better Than a Personal Loan?
Many Indians hold LIC policies, often endowment or traditional plans, which offer lump-sum payouts on death or maturity. Policyholders can take loans against active LIC policies with surrender value, typically up to 90% of that value. Eligible policies include endowment, whole life, or money-back plans, with a minimum three-year premium payment and age requirement of 18. This raises the question of whether borrowing against LIC is more beneficial than personal loans.
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