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Which is The Best Retirement Policy in LIC?

Published On Sep 29, 2021, Updated On Sep 18, 2023

Life Insurance  Corporation of India was formed in 1956 as the sole life coverage organization in India. From that point forward, till the year 2000, the organization has partaken in a restraining infrastructure position in the extra security section and has made a client base of in excess of 250 million people. Each individual has an innate confidence in LIC's image name which has brought about the organization having the biggest portion of the overall industry in the life coverage business. 

LIC offers a scope of extra security approaches which help in satisfying the fluctuated protection needs of people. Among the different LIC plans given by the organization, there are a few plans which are the top rated plans as they have the most thorough inclusion benefits. Yet, before we plunge into the best LIC strategy to purchase, we should initially comprehend the various sorts of LIC plans that are accessible: 

Which is The Best Retirement Policy in LIC?

Among the assortment of extra security plans presented by LIC in all the previously mentioned classifications, we should examine probably the best LIC plans that the organization offers for the different sorts: 

1. LIC's e-Term Plan

This is an internet based term plan which can be purchased at the snap of a mouse. The arrangement's USPs incorporate the accompanying. Differential premium rates are material for smokers and non-smokers. Premium limits help in bringing down the premium charged. A passing advantage is paid on death during the approach term. On the off chance that the arrangement develops, in any case, a development advantage is paid 

2. LIC's Jeevan Lakshya Plan 

The arrangement is an enrichment plan which has an upgraded demise advantage. The USP of the arrangement is as per the following. Passing advantage comprises yearly wages just as a single amount installment on finishing of the strategy term. Two discretionary riders are accessible with the arrangement. Extra increases help in upgrading the arrangement benefits. Alluring premium limits bring down the superior payable 

3. LIC Jeevan Shiromani Plan 

This is a cash back arrangement for High Net worth Individuals as the arrangement offers more elevated levels of total guaranteed. The USPs incorporate the accompanying: Steadfastness options and ensured options are added to the arrangement benefits which upgrades them. Cash back benefits give simple liquidity. There is an inbuilt basic disease advantage which covers 15 basic sicknesses. Four extra riders are accessible for customisation 

4. LIC's New Endowment Plus Plan 

This is the independent unit-connected protection plan presented by LIC which has the accompanying remarkable elements . LIC's Linked Accidental Death Benefit Rider can be picked as a discretionary inclusion advantage. Four assets are accessible for contributing the premium. Four free switches are permitted in an arrangement year for changing between reserves 

5. LIC's Jeevan Tarun Plan 

This is a kid plan which repays the cash benefits between the ages 20 to 24 years of the youngster and when the kid accomplishes 25 years old, the arrangement develops and pays the development advantage. The USP of the arrangement incorporates the accompanying advantages. 

Take Away

Life Insurance Corporation of India, popularly known as LIC is one of India’s most trusted life insurance companies Which provides a plethora of live coverS. LIC’s retirement planS are popular amongst the common man ince ages now and you too must inveSt into LIC retirement plans for a safe and secure future.

You may also like to read - What Riders Are Suitable For A Retirement Plan?

When Should One Purchase A Retirement Plan?

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.

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