LIC Plans for 10 Years

With a wide customer base, LIC, or Life Insurance Corporation of India has become a household name for those buying life insurance plans. Offering a variety of life insurance plans such as child plans, investment plans, endowment plans, and a lot more, LIC gives policyholders the flexibility to choose a suitable plan based on needs and budget. The company also offers life insurance plans which have a policy term of 10 years. In the section below, we will also talk about LIC plans for 10 years. 

Defining LIC Life Insurance Plans for 10 Years

As the name suggests, an LIC life insurance plan for 10 years is like any other life insurance policy, but with a policy term of 10 years. This means that with such policies, you can enjoy life insurance coverage for a duration of 10 years, which can also be renewed. 

Features of LIC life insurance plans for 10 years:

• The premium payment term of this policy is 10 years
• With LIC life insurance plans, the nominees of the policyholder will receive financial compensation in case the former meets an unfortunate event
• There are a few life insurance policies that also provides maturity benefits which means that once the policy matures, a lump sum amount is paid out to the policyholder
• You may also get additional reversionary bonus with your LIC policy

Best LIC Plans for 10 Years

Listed below are some of the best LIC plans for 10 years:

1. LIC Single Premium Endowment Plan

The LIC Single Premium Endowment Plan is a Non linked, Participating, Individual, Life Assurance, savings plan. The minimum entry age of the policy is 90 days and the maximum entry age is 65 years. The minimum policy term of this policy is 10 years and the maximum maturity age is 75 years. Moreover, the minimum sum assured is Rs. 50,000 and the premium payment mode is single premium only. 

2. LIC New Bima Bachat Plan

The LIC New Bima Bachat Plan is a participating, non-linked, savings cum protection plan. This plan provides both death and maturity benefits. The minimum entry age of the policy is 15 years and the maximum entry age is 66 years. There is no limit on the maximum sum assured. The plan also provides loyalty bonuses and offers liquidity.

3. LIC Tech Term Plan

The LIC Tech Term plan is Non-Linked, Non-participating, Individual, Pure Risk, Premium Life  Plan. It has two benefit options, Level Sum Assured and Increasing Sum Assured and has a minimum entry age of 18 years and maximum entry age of 65 years. The minimum basic sum assured available with this plan is Rs. 50,00,000. Moreover, the policy term of the policy is 10 years which can extend up to 40 years. 

4. LIC Jeevan Akshay VII

The LIC Jeevan Akshay VII plan is a Non-Linked, Non-Participating, Individual Immediate Annuity Plan. This plan offers the option to choose from 10 different funds and can be purchased both online and offline. The minimum entry age to this plan is 25 years and the maximum entry age is 85 years. With this plan, you have the flexibility to choose the premium payment term as well as premium paymet frequency. 

5. LIC Jeevan Umang

The LIC Jeevan Umang plan provides the opportunity to both multiply your savings as well as ensure life insurance coverage. With this plan, you will also get survival benefits, death benefits as well as death benefits. The LIC Jeevan Umang plan also serves as loan collateral, provided at least three premiums are paid on time. Some of the riders you can include in this plan are premium waiver riders, accidental disability riders, and more. 

6. LIC Jeevan Amar

Yet another life insurance plan that offers a policy term of 10 years is the LIC Jeevan Amar plan. It is a non-participating, non-linked life insurance and offline plan. While the policy term of this plan is 10 years, it can get extended for up to 40 years. The minimum entry age is 18 years and the maximum entry age is 65 years. The minimum sum assured is Rs. 25,00,000, while there is no limit on the maximum sum assured. 

7. LIC New Money-back Plan

The LIC New Money-back Plan as the name suggests is a money-back plan and has a minimum entry age of 13 years and maximum entry age is 45 years. It is a money-back plan that also provides the benefits of bonus. The minimum sum assured available with this plan is Rs. 1 lakh, however, there is no limit on the maximum sum assured. 

8. LIC Bima Jyoti

The LIC Boma Jyoti plan offers the benefit of both protection and investment. It can be bought online and offline and has a minimum entry age of 18 years and maximum entry age of 60 years. You can also include a number of riders to the plan such as Accidental Death and Disability Benefit Rider, New Term Assurance Rider, Critical Illness Rider, and more. The premium for this plan can be paid on monthly, quarterly, half-yearly, and yearly basis. 

How to Buy LIC Plans with InsuranceDekho?

Here are the steps in which you can buy LIC plan with InsuranceDekho:

• Visit the official website of InsuranceDekho and click on life insurance tab
• Next, enter details such as age, salary, and other details
• Then, you will be redirected to the quotes page
• Select the LIC life insurance plan with a policy term of 10 years
• Finally, proceed with the premium payment 
• When the payment is approved, you will receive policy details on your registered email address

Take Away

So, buy LIC life insurance plans with InsuranceDekho and secure the future of your loved ones. You can also explore a range of other life insurance plans on InsuranceDekho’s website.

FAQs

• What is the minimum entry age of LIC life insurance plans?

The minimum entry age to buy LIC life insurance plans depends on the plan you are buying.

• Can I buy a LIC life insurance plan on InsuranceDekho?

Yes, you can buy LIC life insurance plans on InsuranceDekho’s website.

• What is the minimum sum assured available with the LIC Tech Term plan?

The minimum sum assured available with the LIC Tech Term plan is Rs. 50,00,000.