LIC is goverment owned insurance company.It mainly focuses on all types of insurance but it does not provide feasibility over issue and surrender of policies.
Many time delay in loan and maturity, it is going to be a hectic one.Also rate of interest on loan is higher.One can take many rounds to branches for medical claim with lots of formalities etc.
Maturity period is long and bonus settlement process is not easy.Endowmeny plans are not worth enough to bear the future expenses.Likewise terms and conditions may get fluctuate when insured with ULIP linked policies.Also rate of premium is higher at all.
Money back plans, Retirement plans are not feasible at all.Sometimes, surrender of policy takes lot of time.Many times claim settlement process includes buderned procedure.Please check duly before buying any policy from Life Insurance Corporation Of India.