Best LIC Plans in India

LIC has life insurance plans under multiple headings, ranging from endowment plans to money back and term assurance plans. Each plan is unique and caters to different individuals, making it a hard task to choose the perfect plan for you. Listed below are 5 of the top LIC plans for investment in the country.

1. LIC Jeevan Anand:A combination of whole life plans and endowment assurance, LIC’s Jeevan Anand offers financial protection against death. Multiple premium options and bonuses make it ideal for those looking to get the best out of their money, both in life and after death.Features and benefits

   This plan offers a range of benefits to policyholders, a few of which are highlighted below.

   • Flexibility – Flexible premium payment options and ability to increase cover.
   • Maturity benefit – An individual is entitled to assured returns under this plan.
   • IT benefits – IT benefits are applicable under the IT law.
   • Surrender value – There is a guaranteed surrender value under this plan.
2. LIC E-term Plan:This is an online term assurance plan designed to provide financial security to the family of an insured individual in the event of his/her demise. Keeping modern advances in mind, this plan can be availed only online, eliminating all intermediaries.Features and benefits

   Some of the main features and benefits of this plan are highlighted below.

   • Special premiums – Individuals maintaining a healthy lifestyle (non-smokers) are eligible for better premium rates.
   • Term – Individuals can opt for policy terms which best suit their needs, with terms ranging from 10 years to 35 years available.
   • Sum assured – The minimum sum assured ranges between Rs 25 lakh and 50 lakh, depending on multiple criteria.
   • Online purchase – This feature makes it fast and easy to purchase this policy.
3. Jeevan Ankur:The life of a parent often goes towards providing for his/her children and Jeevan Ankur is a plan designed to offer financial resources to meet any expense associated with your kids. A conventional plan with added profits, this is ideal for parents of children up to the age of 17 years.Features and benefits

   Some of the major features and benefits of this plan are mentioned below.

   • Maturity benefit – An assured maturity benefit is provided on completion of this policy.
   • Additional cover – Individuals can choose to enhance the protection by adding riders.
   • Death benefit – A death benefit equivalent to the sum assured plus an income benefit will be paid.
   • Premium payment – Premiums can be paid either annually, half-yearly, quarterly or monthly.
4. New Endowment Plan:Finding a plan which serves dual purposes is hard, which makes LIC’s New Endowment Plan unique. This participating non-linked plan does the job of a savings and protection plan, making it ideal for the hard working individual.Features and benefits

   Some of the major features and benefits of this plan are mentioned below.

   • Maturity benefit – A maturity benefit comprising the basic sum assured and bonuses (if any) will be paid on maturity.
   • Profit sharing – Policyholders are entitled to share the profits earned by LIC.
   • Death benefit – A death benefit equivalent to the sum assured and bonuses will be paid.
   • Loan – Policyholders can avail a loan against this policy.
5. New Bima Bachat:This participating non-linked plan offers dual benefits of savings and protection, with a unique money back option which ensures that finances don’t wreak havoc in the life of your loved ones.Features and benefits

   Some of the major features and benefits of this plan are mentioned below.

   • Maturity benefit – A maturity benefit which includes the premium and loyalty addition will be paid.
   • Single premium – Only one premium should be paid under this plan.
   • Loan – A loan can be availed against this policy, allowing room for liquidity.
   • Death benefit – A death benefit equivalent to the sum assured and the loyalty addition will be paid.