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Whole life insurance, endowment and Term insurance are tools of LIC. Term insurance gives you benefits after you pay your premiums at a fixed rate. It gives security for a fixed number of years so it is quite affordable. Endowment includes various policies like child plans, jeevan suraksha plans and so on which ensure long term security and protection. While life insurance tools cover your whole life and that matures at the time of death of the policy holders. These tools give benefits to the policy holders as they act as insurance shield on your life depending on your priorities and choices.