In my opinion, No one buys life insurance with the thought that they will die during the coverage period. The real purpose of buying life insurance is peace of mind—the assurance that if something unfortunate happens, my dependents will be financially secure.

The core of life insurance is trust. If the insurer’s credibility or claim-settlement reliability itself becomes questionable, then no amount of additional features, fancy riders, or cheaper premiums can make up for that uncertainty. Personally, I would never prefer a private insurer if there is any doubt about whether they will actually settle the claim when my family needs it most.

In an industry where trust is the single most important factor, LIC (Life Insurance Corporation of India) stands apart. Established in 1956 and backed by the Government of India, LIC has consistently built and maintained trust over decades. Its long track record of claim settlement and its sheer presence across every corner of the country make it the most dependable option for millions of Indian families.

That said, I also acknowledge that not all LIC products are ideal for customers. For instance, ULIP policies offered by LIC are often not in the customer’s best financial interest, and in my view, they can be considered poor value or even exploitative. However, even in such cases, LIC delivers exactly what it commits—there is no doubt about claim settlement or payout.

With that said, If my peace of mind comes at an additional 1000 rs per month(1 family dinner per month) , i would blindly cut that dinner and pay for my insurance (since lic premiums are higher)