Why are there no details of any of the charges levied by LIC on their policies on their website (www.licindia.in)? I am looking at getting some insurance, and was advised that LIC would be the most effective solution, but unfortunately I can find absolutely no indication of the costs that I will incur. This applies, for example, to Cash Back or ULIP type policies, where most of my money should go towards investment in some form, while the insurance company keeps some operating costs.
Maybe, the costs are there and its only me who cannot find them. The closest I came to was 'The Unit Fund is subject to various charges and value of units may increase or decrease, depending on the Net Asset Value (NAV).' at http://www.licindia.in/profit_plus_features.htm. In contrast, other insurance companies, HDFC Standard Life for example, clearly mention the charges applicable on their policies.
It is a shame that LIC is not being forthright with its potential customers. Maybe its just bad website design and not an attempt to hide information, but given that it is the largest insurer in India, one would expect better.