Are you confused over various types of insurance products offered by LIC? Do not be, not only LIC but all other companies that provide insurance sell these products. According to name of insurance its role is different too. For e.g. term insurance plan, these are plans that are taken on certain terms. If insurance holder dead or met with any accident, then insurer will pay insured sum to their family. And if nothing happens to insurance holder till they bear policy then insurer will not be liable to pay anything to them. Thus, call LIC helpline Contact Number, understand the product and then go for it.