Top 5 LIC Policies To Invest In 2022
Published On Dec 03, 2021 10:00 AM By InsuranceDekho
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Life today is highly uncertain and in order to efficiently deal with an unforeseen event, having a life insurance plan is essential. However, as a rule of thumb, It is essential to have a clear understanding of the plan, for all. Doing so not only allows you to make a safe purchase but also lets you stay stress-free knowing that a life insurance plan will offer you the required coverage.
Among many in the market, a state-run insurer, and the leading player in the industry, LIC offers a variety of life insurance plans as per the requirements and affordability of working professionals. So, today we will discuss all the top 5 LIC Policies.
Best LIC Life Insurance Plans For Everyone
Offering a range of plans, LIC has plans to meet the needs of all so that you can easily choose a plan according to your needs. Today, let’s talk about the best 5 LIC Plans.
1. Tech-Term Plan
Tech-Term is a Non-Linked, Without Profit, Pure Protection plan. This plan however can be purchased through online mode only. In case a policyholder wants to double the sum assured under this plan, he can do so through payment of nearly 25 percent to 30 percent higher premium. An added benefit of the tech-term plan is that you can also add riders according to your needs. The customer can also opt for options to receive death benefits in installments over the chosen period of 5 or 10 or 15 years instead of a lump sum amount. The installments shall be paid in advance at yearly or half yearly or quarterly or monthly intervals.
2. New Jeevan Anand
New Jeevan Anand is an endowment plan offered by LIC. It is a participating non-linked plan that offers a combination of protection as well as savings. When the insured lives to the end of the policy tenure, a lump-sum payment is provided and financial protection against the death of the policyholder is offered throughout his or her life. This plan takes care of liquidity needs through the facility of loans. Features of the New Jeevan Anand plan are:
- The death benefit in the form of a sum assured along with vested simple reversionary bonuses is provided.
- It offers to participate in the profits of LIC and receive a bonus declared by the company
- Besides the basic benefits against the sum assured and the vested bonuses, the policy also provides an additional bonus at maturity.
- With this plan, you even get the option of regular payments to the insured.
3. Jeevan Umang
The Jeevan Umang is a non-linked, with-profit, whole-life assurance plan. It provides a lump sum payment at maturity or on the death of the policyholder during the term of the policy, as well as annual survival benefits from the end of the premium-paying period to maturity. It is among those very few plans in the sector that offer a life coverage of 100 years. The plan pays 8 percent of the sum assured every year as money back on survival at the end of the policy term. A simple reversionary bonus and final addition bonus are paid, subject to conditions. For someone looking for a pension facility after retirement, it’s a perfect pick.
4. Jeevan Shanti
It is a single premium plan that offers policyholders the flexibility to select between Immediate and Deferred Annuity. Its salient features and benefits are:
- The annuity rates are guaranteed at the inception of the policy for both types of annuity plans that are payable throughout the lifetime of annuitant(s).
- The plan offers nine different annuity options so that you can pick a preferred one based on your investment objectives.
- Annuity rates are fixed at the inception of the policy term.
- A loan facility, available after the completion of 1 policy year, ensures liquidity.
- If the policyholder opts for an annuity option and the purchase price is returned, the policy can be surrendered after three months.
- Especially suitable for policyholders with handicapped dependant (Divyangjan) life.
- Available online as well as offline.
5. Jeevan Labh
LIC Jeevan Labh is a non-linked, with-profit endowment plan, limited premium-paying investment plan. Listed below are some of the salient features of the LIC Jeevan Labh Plan:
- The plans offer dual benefits of protection and savings.
- Offers Death Benefit, which is the sum assured payable to the beneficiary on the unforeseen death of the policyholder.
- Includes Maturity Benefit as a lump sum amount that is paid to the policyholder after the completion of the plan.
- Ensures liquidity through its loan facility.
- Simple Reversionary Bonuses are also offered, provided the policy is in-force.
- Final (Additional) Bonus is also payable during claim settlement in case of the policyholder’s death or maturity of the policy.
- To further enhance the benefits, the plan also offers the option to add riders and customise the plan.
Thus, with the above list of plans mentioned, it is clear that LIC offers a number of plans. So, based on your individual needs as well as requirements, pick a preferred life insurance plan offered by LIC.
Also read - How Much Term Insurance Will I Get Without Medical Examination?
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.