Best LIC Money Back Policy in 2021
Updated On Jun 15, 2021
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Life Insurance Corporation of India (LIC) is one of the household names when it comes to buying insurance in the country. LIC offers a wide array of life insurance plans. One of its most popular categories of life insurance plans is Money Back Plans. These plans help you earn a guaranteed return along with providing you with a life cover which can help your family stay financially stable in your absence.
In this article, we have listed the top 5 LIC Money Back Plans which can help you grow your money with assured returns along with enjoying the benefits of a life insurance plan -
Top LIC Money Back Plans In India 2021
LIC Bima Shree Plan
It's a life insurance cum savings plan which is specially designed for High Networth Individuals. Premium payments can be paid yearly, half yearly, quarterly, monthly through SSS and NACH only. Minimum sum assured is of Rs 10 Lakh under this plan, whereas there is no limit for maximum sum assured. The minimum age for the entry is 8 years and the maximum is 55 years. The policy tenure is for the term 14, 16, 18 and 20 years. There are certain benefits that you will enjoy under this policy are Death Benefit, Survival Benefit, Guaranteed Additions, Optional Rider Benefits and Maturity Benefits.
LIC Jeevan Tarun Plan
It's a non-linked limited premium payment insurance plan which provides you with a dual combination of protection and saving features for children. This policy is specially planned for the growth of children to meet their educational and other needs through Annual Surviving Benefit payments from ages 20 to 24 years. Along with these facilities this plan also takes care of liquidity through it's loan facility.
LIC New Children's Money- Back Plan
It's a non linked money return plan. It is specially planned for children to meet their marriage, educational and other requirements through Survival Benefits. Entry age of this plan is between 0 to 12 years. The term of the policy is 25 years. Payments need to be paid yearly, quarterly, monthly through SSS and ECS mode only. Minimum sum assured is 1 lakh whereas for maximum sum assured there is no limit. There is no requirement for a medical examination.
LIC New Jeevan Shiromani
It's a non- linked, participating,individual, life assurance savings plan. Its an money back life insurance plan with minimum sum assured is of Rs. 1 crore specially designed for High- Net worth individuals. Along with all this policy can also participate in loyalty additions to gain profits. Payments of the Premiums can be done yearly, quarterly, monthly, half yearly through NACH and SSS only. Minimum age of the entry is 18 years whereas the maximum is 55 years. The term of the policy is of 14,16,18 and 20 years and there is no maximum sum assured.
LIC Jeevan Umang
It's an endowment and Whole life insurance plan. Entry age is 90 days. Loan facility is also available. There is no maximum sum assured limit in this plan whereas the minimum sum assured is 2 lakh. Premiums need to be paid yearly, half-yearly, quarterly and monthly through SSS and NACH only. It also provides you with the pension plan after retirement. The Final Additional Bonus along with Sum Assured and the Accrued Bonus is paid to the nominee after the policyholder dies.
These are some of the most remunerative plans on which the policy buyers can consider as per the affordability and financial needs. With an amazing reputation in the market and along with the excellent benefits and features available you can easily invest your money in LIC money back policies and secure your future.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.