LIC support you On old age.

On various occasions, people are under the impression that savings accrued over a lifetime are sufficient to see them through old age. This is perhaps one of the biggest misconceptions. Life is unpredictable and sometimes all it takes is a bout of critical illness to wipe out all that you had saved. You can avoid such a situation by opting for a retirement plan early in life (preferable in late 20s or early 30s). It supplies you with an income every month, almost similar to the salary that you used to receive when you were employed. You can use this money for your routine expenses as also for health emergencies.