Investment Plans 170 views June 22, 2021

Best Investment Plans for 5 Years

Want to secure your family’s future along with accumulating wealth for 5 years with an investment plan? Well, life insurance companies offer several insurance-cum-savings short-term and Unit-linked insurance plans with which you can ensure the same.

On this page, we will discuss them with their features and benefits so that you can invest your hard-earned money wisely. Let’s start without any further delay!

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Features and Benefits of Top Investment Plans for 5 Years

Some of the top investment plans that you can choose for 5 years are SBI Life eShield, LIC New Jeevan Nidhi, SBI Life Smart Wealth Assure, Aegon Life iTerm and LIC Amulya Jeevan II Insurance Plan. Read on to understand the features and benefits of these plans. Let’s start.

SBI Life eShield Insurance Plan

SBI Life eShield Insurance Plan can provide financial protection to yourself and your family with multiple benefit structures and rider options. If you are a non-smoker, this plan also rewards you with a lower premium. This pure online term plan provides multiple features like security, flexibility, simplicity, affordability and reliability. Have a look at the key features of this plan mentioned below.

  1. Financial security to your family
  2. Flexible benefit options – Level and Increasing Cover
  3. Minimum basic sum assured of INR 35,00,000 with no maximum limit
  4. A policy term of 5 years (On Choosing Level Cover) up to 80 years minus the age at entry
  5. Premium payment term same as the policy term
  6. The minimum premium amount stands at INR 2,779 per year
  7. Multiple Rider Options – Accidental Death Benefit and Accidental Total & Permanent Disability Benefit Rider
  8. Under Level Cover Benefit, the sum assured will remain throughout the policy term
  9. Protection against terminal illness
  10. A 30-day grace period
  11. Option to get a medical second opinion
  12. Tax benefits under Income Tax Act, 1961

During the policy term, on an unfortunate death or diagnosis of the terminal illness, the policy will provide a sum assured on death. The sum assured amount will be the highest of the following amounts.

  1. 10 times the Annualized Premium
  2. 105% of the total Premiums received up to the date of death
  3. Absolute amount assured to be paid on death, (which is equal to the Effective Sum Assured) as on the date of death

LIC New Jeevan Nidhi Plan

LIC New Jeevan Nidhi Plan offers a unique combination of protection and savings over a period. With a single premium payment, individuals can choose a deferment period as low as five years up to 35 years according to your convenience. We are showing some features and benefits of this plan below. Do check!

  1. Minimum basic sum assured of INR 50,000 and 1 lakh for Single premium and Regular Payment, respectively
  2. No maximum limit on basic assured (can be increased in the multiples of INR 5,000)
  3. Enhanced coverage options with LIC Accidental Death and Disability Benefit Rider
  4. The minimum entry age stands at 20 years

To have information about the death benefits provided by LIC New Jeevan Nidhi Plan, check the below table.

ConditionsDeath Benefit
If the death happens during the first five policy yearsBasic sum assured along with the accumulated guaranteed addition (as a lump sum or in the form of an annuity or part in a lump sum and remaining as the annuity)
If the death happens after the first five policy yearsBasic sum assured along with the accumulated guaranteed addition, simple reversionary bonus and final additional bonus (as a lump sum or in the form of an annuity or part in a lump sum and remaining as annuity)

SBI Life Smart Wealth Assure Insurance Plan

Smart Wealth Assure Plan from SBI Life remains one of the best investment plans for 5 years. The reason being it provides the option of partial withdrawal from the 6th policy year. This plan from SBI Life is a unit-linked non-participating life insurance product that offers financial security to your family. Check out its key features mentioned below.

  1. Market-linked returns along with the insurance cover to protect your family
  2. Option to choose from seven funds according to your risk capacity and financial goals
  3. Comprehensive coverage with the Accidental Death Benefit Rider
  4. Benefits throughout the policy term with a single premium payment
  5. Payment of fund value as maturity benefits
  6. Policy term of 10 to 30 years
  7. Minimum single premium payment of INR 50,000 with no maximum limit
  8. Death benefit – Higher of the Fund Value or Sum Assured
  9. Tax Benefits under the Income Tax Act, 1961

Aegon Life iTerm Insurance Plan

Aegon Life iTerm Insurance Plan is a non-linked non-participating life insurance plan from Aegon Life that ensures financial protection to your family in your absence. One of the best features of this plan is that it provides flexibility to increase the life coverage amount at important milestones of your life (on payment of the additional premium).

Please check the highlights of this plan mentioned below. 

  1. Multiple plan options – Life Protect, Protect Plus and Dual Protect
  2. Minimum Policy term of 5 years under Life Protect Option
  3. A minimum basic sum assured of INR 25 lakh with no maximum limit
  4. Life Cover till the age of 70 years
  5. Lump sum payment on diagnosis of 36 critical illnesses
  6. Option to get death benefit as a lump sum or as monthly income or both
  7. Life cover payment on the diagnosis of a terminal illness
  8. Rider option to enhance your protection with Aegon Life Accidental Death Rider
  9. Quit Smoking Benefit with a reduced premium amount
  10. Tax benefits on premiums paid and benefits received
  11. Lower premium for females and non-smokers

LIC Amulya Jeevan II Plan

LIC Amulya Jeevan II Plan could help protect your family if you are not around to ensure the same. Do check the key features of this mentioned below.

  1. Sum assured as a death benefit (if a policyholder dies during the policy term)
  2. The minimum sum assured stands at INR 25 lakh (can be increased in the multiples of 1,00,000 with no maximum limit)
  3. Policy term options ranging from 5 to 35 years
  4. Option to make premium payment at yearly or half-yearly intervals
  5. Minimum entry age of 18 years
  6. A grace period of 1 month

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