5 Best and Profitable LIC Plans

Life Insurance is an important part of our life which makes the life of our family easy and safe even after our death. The best company for life insurance in India is Life Insurance Corporation of India (LIC), then if you also want to take life insurance and are confused in choosing the best option of life insurance then this article is for you. In this article, you are being told about the five best plans related to LIC (Life Insurance Corporation of India).

Also read:

Best LIC Schemes and Policies.

1. LIC New Endowment Plan

LIC New Endowment Plan is a plan that provides the combination of Security and Savings to the customers i.e. a mix of protection and savings. The reason for this scheme being the most popular is that in this plan maturity means that even before the maturity of the plan, the insured person i.e. whose insurance is taken, his family is provided with the necessary financial services.

The age of entry in this scheme is from 8-50 years and the mode of payment is monthly, quarterly, half yearly and yearly. The Sum Assured of this plan Minimum Basic Insurance Coverage for the policy is Rs. 1,00,000. While there is no maximum limit for the sum insured.

It also has two types of alternative benefits –>

  1. Disability Benefit Riders
  2. LIC Accidental Death

2. e-Term [LIC e-Term Plan]

In LIC e-term, the family of the insured person gives full financial help in case of Unexpected Accident. You can buy this policy online, you do not need any agent for this. The age of entry in this scheme is up to 18-60 years and the minimum policy period is 10 years while the maximum is 35 years. The minimum premium in LIC e-Term is Rs 4600 and the premium paid is annuity.

3. LIC Jeevan Anand Plan

LIC Jeevan Anand Plan or Plan is a Participating Non-Linked Policy which provides a mix or combination of protection and savings like LIC New Endowment Plan. The minimum age to take this policy should be 18 years and maximum 50 years. In this loan facility and tax benefits under section 80C are available. In LIC Jeevan Anand plan, customers can make lump sum payment at the time of maturity.

This insurance policy is the best seller and it also offers LIC Accidental Death Benefit or Disability Benefit as an optional benefit. Minimum Insurance Coverage given by this scheme is Rs. 1,00,000.

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4. LIC New Children Money Back Plan

As its name suggests, New Children Money Back Plan is LIC scheme for children. Which is a more important policy to meet the needs of the youth. The entry age for this policy is 0-12 years and the premium mode of this policy can be yearly, half-yearly, quarterly or monthly through ECS or through SSS mode.

The tenure of New Children Money Back Plan is 25 years and no medical examination is required. The minimum purchase price or premium value of this policy is Rs 24,000 and a discount is also provided on opting for higher sum assured.

SIP Plans: What is SIP and how to invest in it?

5. LIC Jeevan Saral Scheme

LIC Jeevan Saral Insurance Scheme comes under the Special Planning Section of LIC which is a flexible policy along with being an Endowment Policy. The age of entry in this policy is 12-60 years and the minimum policy value is Rs.250 for people below 50 years of age and Rs.400 for people above 50 years of age. The maximum maturity age of LIC Jeevan Saral plan is 75 years and tax deduction benefit is also available under section 80C.

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