Hi, lic of india was the only company which gives govenament of indias gurantee on our money apart from postal, govt gilt bonds. it is 100% secure and safer for now a days recession. as u know that in 1956 lic was nationalized by our beloved chacha nehru to utilise our money for our national development.
Before nationalize insurance sector, all the present private insurance companies were there and cheated the customers by not paying the claims and profits, dividends and shifting the capital, profits and all the moneys to the their countries.
Private players are working only for the profit motive not for the welfare or interest of the customer or national interest. he I wish to say something, that I was visited the irda website and came know that 90% of the current private players are running huge capital loss since 2000. how they are paying huge commissions, salaries to staff, what is the maitanance cost all are hidden one.
No company is showing its balannce sheet to the customers. even the their advisors, agents misleading the customers by attractive returns which are like bubbles. I wish all the members kindly invest your hard earned penny in the safe and secure institutions where we can have trust and surity for our investments.