Lic which is the best plan

It is specially designed to meet the marriage, educational, and other requirements of raising children through Survival Benefits. Additionally, you will get a life risk cover for your child and several survival benefits until the end of the specified duration. If you have paid the premium amount for the initial three years, the policy can be surrendered at any time during the policy tenure. Death Benefit: If the policyholder dies before the commencement of risk, the Death Benefit amount should be payable.

If you go through the statistics, you will come to know that this policy is the highest-selling LIC insurance policy. Because of its numerous advantages inclusive of coverage for risk even after maturity , it highlights this plan as the most unique one. LIC Jeevan Anand is a complete endowment cum whole life insurance policy that comes along with a bonus facility. The best thing about this policy is that even when the maturity is paid and the policyholder is alive, the insurance coverage continues with the payment of premium amounts.

This plan is ideal for women who are never off their responsibilities in life as it will continue to pay the benefits, even after the maturity period of the plan. LIC Jeevan Umang comes with the dual benefit of earnings as well as savings for the secure future of your family.

The plan offers a years cover which is quite an exceptional feature of the insurance policy. A fixed Sum Assured is paid to the policyholder at the end of the policy tenure. Death Benefit: Before commencement of risk if the policyholder dies, the whole premium paid till the time will be payable under the plan excluding any interests. After the commencement of risk, if the policyholder dies, the final additional bonus along with Accrued bonus and the Sum Assured is paid to the nominee s of the policy.

Insurance policies are best investment option for protection and investment. Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan ULIP as per your risk appetite and financial objectives.

If investment objective is just wealth creation, only then mutual fund SIP Systematic Investment Plans are better than LIC investment plans because the former generally offers a higher rate of return. If your objective is to invest with a life cover, a LIC investment plan is a better option than a bank Fixed Deposit. Whether you should invest in a LIC investment plan or mutual funds should depend on your financial goal and risk appetite.

If you are looking for life coverage, LIC investment plan should be your choice. In contrast, if you have surplus funds in hand, you can invest it in mutual funds for capital growth and future financial goals.

Investors who require life coverage can opt for LIC investment plan. On the other hand, investors with surplus funds in hand can invest in mutual funds to achieve capital growth for meeting future financial goals.

LIC term plans are designed to offer policyholders financial protection at low premium rates. It offers Death Benefit that is payable to the nominee of the term plan on the death of the policyholder. LIC term plans do not have any maturity benefit. The sum assured of an LIC policy is the guaranteed amount that the policyholder is eligible for before the accumulated bonuses are added to it.

This is the amount that the policyholder is insured for under the plan. There are a varied range of investment plans that investors in India can select from, according to their unique financial objectives and risk appetites.

LIC Investment Plans. Top performing investment plans, better than mutual funds. Plans with zero commissions. Here are its salient features and Benefits: Serves the dual purpose 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.

Policyholders are eligible for receiving Simple Reversionary Bonuses, provided the policy is in-force. Riders for complete protection. Eligibility Basic sum assured starts from a minimum of Rs. Offers maturity benefit as a lump sum amount after the completion of the policy tenure, irrespective of whether the policyholder has survived through the policy tenure. Rider sum assured for complete protection. Eligibility Minimum basic sum assured is Rs.

Its salient features and benefits are: Serves the dual purpose of income and protection to your family. Offers Annual Survival Benefit from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term. Offers policyholders the financial security of liquidity through loan facility.

The policy also allows its customer to surrender it anytime, after 3 years of full payment of premium, and avail the surrender value. The plan offers a combination of protection and savings. It offers life coverage until the insurer's death even after the maturity of the plan.

It is considered more affordable than other plans. The plan can be of special interest for women professionals as it offers them a maximum of 10 per cent to 20 per cent discount. For those availing higher sum assured, the plan offers handsome discounts on rates of premium. A customer can avail a maximum of 20 per cent discount for a sum assured above Rs 1 crore. Jeevan Umang plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term.

It is among those very few plans in the sector that offer a life coverage of years. The plan pays 8 per cent of the sum assured every year as moneyback on survival at the end of the policy term. The USP of the plan includes the following benefits — There are four money back benefits to choose from Bonuses help increase the plan benefits There is an optional premium waiver benefit rider for an enhanced coverage There are two types of premium rebates which help in lowering the premium amount.

The features of pension plans are as follows — Pension plans can be offered in two variants — deferred annuity and immediate annuity plans The maturity benefit of a pension plan is used to create annuities that continue till the lifetime of the policyholder Under immediate annuity plans, annuities can be received on joint lives too.

Maturity Benefit Nil. Leave a Reply Cancel reply Your email address will not be published. Search for:. Find Bike Insurance Plans. Buy Health Insurance Policy. Buy Term Life Plans. Looking for Car Insurance. Get Quotes. Looking for Bike Insurance. Looking for Health Insurance. Call Now. Looking for Life Insurance. Recent Articles Did you know these taxation facts about your insurance policies? Porting your Health insurance is Very Easy Now! A complete list of all the different types of insurances available in India.

Get Insured. Insurance is the subject matter of the solicitation. All Rights Reserved. Privacy Policy and Terms. Sum assured on maturity which is equal to the Basic sum assured A simple reversionary bonus would also be paid with the maturity benefit. If age is below 55 years — 10 times the annualized premium If age is 55 years and above — 7 times the annualized premium. Guaranteed additions, if added, would also be paid with the death benefit.