5 Most Popular LIC Policies in India

Life is so unpredictable and we never know what is coming next. We desire something, plan something and get something else. Keeping this unpredictability in mind it has become mandatory to invest money wisely for a safe and secure future.

When we talk about investing money the biggest question that comes in our mind is where to invest and how to invest so that one can get maximum benefits.

Keeping the trust of millions of people Life insurance Corporation of India (LIC) is where one can invest money with full faith and trust.

The mission of LIC is to make sure that the quality of life of people is enhanced by providing financial security through its products and services with best returns and also make available resources for economic development.

The purpose of this article is to introduce our readers with some top selling plans of LIC so that they can take an informed decision to purchase the same.

LIC New Jeevan Anand

This is a Whole Life Endowment plan with numerous benefits. As the name in itself suggests this plan is a perfect combination of both protection and savings.

It gives financial security against death throughout the lifetime of the policy holder with a provision of making payment of a lump sum amount at the end of the maturity of the selected policy term in case of the policy holder’s survival.

This policy is a perfect blend of an endowment and whole life plan. The entry age for this policy is between 18 years to 50 years with 75years as the maximum maturity age. The period of policy is between 15years to 35 years with 1 lakh as minimum sum insured.

Benefits payable at the end of policy term are: basic sum insured along with vested simple reversionary bonuses and final additional bonus, if any will be payable as a whole upon survival of the insured till the policy term provided all the premium dues have been paid.

What will happen if the insured dies before the maturity of the policy or before completing the term of premium payment? In this case the nominee appreciates the sum assured and the accumulated bonus, with nominee getting the whole amount the policy ends.

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LIC money back 25 years

It is apolicy which is not linked to the ups and downs of capital markets and at the same time is participating in the profits of LIC which is paid to the policyholder in form of bonuses on death and maturity.

It is a form of endowment policy which covers the death risk of the policyholder during the policy period as well as provides survival benefits at pre specified durations as well as a lump sum amount on the maturity.

This policy is available with accidental death and disability benefit rider which enhances the protection and increases the financial support to the nominees in case of death or disability by an accident. This can be added to the policy by paying nominal extra premium.

LIC New endowment plus

This is a unit linked insurance product from LIC where the policyholder has the option to choose from four funds where the premiums are invested by LIC on his behalf.

This is suitable for individuals with a higher risk appetite who want to enjoy the growth of the capital markets along with the peace of insurance protection. Entry age permitted for this plan is 90 days to 50 years and maximum maturity age is 60 years.

The policy tenure is ten to twenty years. Death benefit available under the policy is higher of the available NAV which is the fund value or basic sum insured, the maturity value will be equivalent to fund value.

Jeevan Tarun

This is a child plan which pays money back benefits when the child attains age of 20 – 25 years along with death benefit and other benefits.

There is also a premium waiver benefit available under the plan where there is no need to pay the premiums under the policy if the parent dies.

This is suitable for parents who want to accumulate a secured corpus for the future expenses of their child like education and marriage.

LIC tech term

This is another great policy introduced by LIC which is purely a life cover policy available only available for purchase through the online mode. Online availability of the plan is a great benefit as one does not have to take the stress of looking for agents or intermediaries for the policy or going to LIC office for the same.

This is also cost effective as the corporation need not to pay the commission which is a major cost head, to agents and a part of this cost saving can be transferred to the insured in form off benefits.

As per this policy on payment of regular premium by the policy holder, LIC will pay equal amount of sum assured to the beneficiary in case of unfortunate death of the life insured. 

For purchasing this policy one has to login in the official website of LIC i.e. www.licindia.in, click on ‘Buy Policies Online’ then  select plan  LIC Tech term and accordingly the website will direct as to how to go forward about it.  There are two benefit options available in this plan which are Level sum assured and increasing the sum assured.


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