Insurance Plans 107 views April 20, 2021

Individuals choose a life insurance plan to protect themselves and their families in case something unfortunate like a death happens. Life Insurance Corporation of India (LIC) is one of the most trusted insurers from where you can buy a life insurance plan. LIC, which has a customer base of more than 250 million, provides a wide range of life insurance policies to customers (term plans, endowment plans, moneyback, etc.) according to their varying needs. Here, we will discuss the top 10 LIC Policies in India so that you can make a better decision when protecting your family’s financial future.

You can also know the features and benefits of these top 10 LIC policies in India and choose the suitable one from them. So, without any further delay, let’s start!

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What are the Top 10 LIC Policies in India that You Should Choose?

Here are the top 10 LIC policies in India mentioned below from which you can choose according to your requirements. Have a look!

  1. LIC Tech Term
  2. LIC Jeevan Amar
  3. LIC Jeevan Akshay
  4. LIC New Endowment
  5. LIC Jeevan Umang
  6. LIC Jeevan Nidhi
  7. LIC Jeevan Tarun
  8. LIC New Jeevan Shanti
  9. LIC Beema Shree
  10. LIC Amulya Jeevan II

Now, we will discuss the features and benefits of each of these plans one after another. Let’s start!

LIC Tech Term Plan

LIC Tech Term plan is one of the popular term assurance plans among customers that provide financial security to an individual’s family in case death happens. This is a non-linked, without profit, pure protection online term assurance policy from LIC. Check out its key features!

  1. Two benefits options – Level sum assured and Increasing sum assured
  2. Policy term of 10 to 40 years
  3. Minimum premium amount – INR 30,000 (on single premium payment mode)
  4. Death Benefits in the form of Sum Assured on Death – The benefit will vary according to the Premium Payment Mode (Death Benefit can also be taken in installments)
  5. Rider benefits

LIC Jeevan Amar

LIC Jeevan Amar is another term insurance plan that provides financial protection to the policyholder’s family in case he or she dies during the policy term. Have a look at its crucial features mentioned below!

  1. Flexibility to choose between level and increasing sum assured option
  2. Multiple premium payment options (Single, Regular and Limited)
  3. Special premium rates for women
  4. Enhance your coverage with Accident Benefit Rider
  5. Minimum basic sum assured of INR 25,00,000

LIC Jeevan Akshay Plan

If you are looking to secure your retirement years, LIC Jeevan Akshay Plan could be the right fit for you as you can choose from as many as 10 annuity options. We are showing the striking features of this plan below.

  1. 10 annuity options on the payment of a lump sum amount
  2. Payment of annuity throughout the lifetime of the annuitant
  3. Option available for death benefit payment – Lump sum, Annuitisation of Death Benefit and Installments over the chosen period of 5, 10 or 15 years
  4. Minimum purchase price of INR 1 lakh
  5. No maximum purchase limit
  6. Minimum annuity of INR 12,000 per year
  7. Loan facility against the policy

LIC New Endowment Plan

With LIC New Endowment Plan, you can enjoy a unique combination of protection and savings. So, your family can have financial support in case you die during the policy term or you will get a lump sum amount at the end of the policy term. To know more about this plan, let’s check its salient features.

  1. Death & maturity benefit
  2. Option to get maturity benefit in installments (yearly, half-yearly, quarterly and monthly modes)
  3. Simple reversionary bonus facility
  4. Option to choose additional rider benefits
  5. Loan against policy up to 80-90% of the surrender value
  6. Minimum sum assured of INR 1,00,000
  7. No limit on the maximum sum assured amount

LIC Jeevan Umang

LIC Jeevan Umang Plan is a non-linked, with-profit, whole life assurance plan that helps people ensure a combination of income and protection to their families. Its key features are mentioned below. Do check!

  1. A death benefit to the nominee in case of policyholder’s death
  2. Minimum sum assured of INR 2,00,000 with no maximum limit
  3. Option to take death benefit in installments
  4. Survival benefit on surviving till the end of the premium paying term
  5. Loan against policy up to 80-90% of the surrender value
  6. Rider benefits (New Term Assurance, New Critical Illness Benefit, Accidental Death Benefit, etc.)

LIC Jeevan Nidhi

With LIC Jeevan Nidhi Plan, individuals can get a pension in the form of an annuity if they survive after the end of the policy term. Also, this annuity will accumulate during the policy years with the sum assured, guaranteed addition and bonuses. Have a look at its key features.

  1. Multiple annuity options such as for life, certain periods, increasing options, etc.
  2. Risk cover during the deferment period
  3. The pension can begin as early as 40 years
  4. Guaranteed additions at INR 50 per INR 1,000 of the sum assured for each completed policy year for the first five years
  5. Death benefit before annuity vests
  6. Large sum assured rebate
  7. Multiple rider options (Term assurance rider and critical illness rider)

LIC Jeevan Tarun Plan

One of the top 10 LIC policies in India, LIC Jeevan Tarun Plan offers a combination of protection and savings features for growing children. The following are the key features of this Money Back Policy specially designed for children.

  1. Annual survival benefits from the ages of 20 to 24 years
  2. Maturity benefit at the age of 25 years
    Death benefit with a minimum sum assured of INR 75,000 with no maximum limit
  3. Option to choose LIC Premium waiver benefit rider with an additional premium
  4. Option to take death benefit in installments
  5. Policy term of (25- the age at entry) years

LIC New Jeevan Shanti

LIC New Jeevan Shanti is a non-linked, non-participating, individual, single premium deferred annuity plan with which individuals can ensure a tension-free future. Key features of this LIC pension plan are as follows.

  1. A choice to make between Single Life and Joint Life Deferred annuity
  2. Guaranteed annuity rates at the inception of the policy
  3. Annuities are payable post deferment period throughout the  lifetime of the annuitant(s)
  4. Death benefit with a minimum purchase price of INR 1,50,000
  5. Accumulated additional benefits on death

LIC Bima Shree Plan

LIC Beema Shree is one of the top LIC policies in India specially designed for high net-worth individuals as the minimum basic sum assured under this plan is INR 10 lakh. This is a non-linked, participating individual life assurance savings plan. Let’s understand its key benefits.

  1. Multiple policy term options of 14, 16, 18 or 20 years
  2. Minimum basic sum assured of INR 10 lakh with no maximum limit
  3. Death benefit
  4. Maturity benefits up to 40% of the basic sum assured
  5. Optional rider benefits (Accidental Death and Disability benefit, Accidental Benefit rider, New Term assurance, etc.)
  6. Loan against policy facility

LIC Amulya Jeevan II

LIC Amulya Jeevan II is one of the popular short-term plans (policy term of 7 years or less) that helps people secure their family’s financial future. We are showing its key features below. Please check!

  1. Sum assured as a death benefit
  2. Minimum sum assured of INR 25,00,000 (can be increased in the multiples of INR 1 lakh)
  3. Policy term of 5 to 35 years
  4. Payment of premium amount at yearly or half-yearly intervals

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