Investment Plans 123623 views February 27, 2020

LIC Plan 5 Years Double Money

Life Insurance Corporation of India is the oldest and most trusted insurance provider in India with a very large market base. It is owned by the Government of India and offers a wide range of insurance products to cater to the various needs of its customers. LIC offers health plans, savings plans, endowment plans, unit-linked plans, term plans, money back plans and pension plans.

Savings plans offered by LIC provide the dual benefit of savings and insurance coverage to individuals. If you buy a saving-oriented insurance plan, you can earn better returns and increase your benefits. Savings-oriented plans help build a fund for short as well as long term. However, NO LIC plan can guarantee double money in 5 years as the returns on the plans are never guaranteed. LIC Plan 5 year double money CANNOT be guaranteed and the returns vary from plan to plan. If you want good and higher returns, you can purchase LIC endowment plans or invest in unit-linke plan offered by LIC.


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Lots of people will tell you this, but the truth of the matter is that there is NO such guaranteed plan that LIC or any other company can provide. Even FD cannot guarantee the same as its rates have dropped considerably over the last few years.

LIC Endowment plans

Endowment life insurance plans raise the benefits of life insurance with savings. These plans provide both death benefits as well as maturity benefits. These are participating plans that offer participation in bonus declared by the insurance companies. It pays simple accrued reversionary bonuses and final additional bonuses along with the death or maturity benefit which provide higher returns to the policyholder.

Features of Endowment plans

Key features of the endowment plans offered by LIC are as follows:

  1. These plans pay lump sum maturity benefit on the survival of the term of the plan by the insured.
  2. The insured can choose from various premium paying frequency which includes yearly payment of premium, monthly payment of premium, quarterly payment of premium or half-yearly payment of premium.
  3. Endowment plans come with surrender value which is a fixed percentage of premiums paid for the plan.
  4. The coverage of these plans can be enhanced with various add on riders.
  5. Discounts on premium payments is also offered in these endowment plans on yearly premium paying frequency.

List of LIC Endowment Plans

There are eight endowment plans offered by LIC which are as follows:

  1. LIC Aadhaar Shila
  2. LIC New Jeevan Anand
  3. LIC New Endowment Plan
  4. LIC Jeevan Labh
  5. LIC Single Premium Endowment Plan
  6. LIC New Bima Bachat
  7. LIC Jeevan Lakshya
  8. LIC Aadhaar Stambh

Unit Linked Insurance Plan

LIC offers only one Unit Linked Insurance plan. Unit Linked Insurance plans provide higher returns but do not provide a guarantee as the returns from the unit-linked insurance plans are subject to market returns and involves higher risk. These plans are suitable for those who are willing to take higher risk.

LIC New Endowment Plus

Unit linked insurance policy offers the dual benefit of life insurance as well as investment. The premiums that are paid for the plan by the policyholder is partly used to cover the insurance risk and partly for investing in the funds which can be equity, debt or balanced fund that is a mix of both equity and debt funds. The premiums are invested in the type of fund decided as per the risk appetite of the policyholder.

Features of Unit Linked Insurance Plans

  1. These plans offer flexibility to invest both in short and long term investments and ensure guaranteed returns.
  2. The returns on these plans depend on the market and the funds you have opted to invest in.
  3. These plans offer partial withdrawal after the expiry of the lock-in period which offers liquidity to the policyholder
  4. These plans also offer optional accidental death rider benefit which increases the coverage of the plan.
  5. There are four options of investment of funds in the plan which includes bond Fund, secured fund, balanced fund and growth fund
  6. The policy pays maturity benefit which is equal to the fund value of the plan
  7. On the death of the policyholder, the death benefit is paid which is the fund value of the plan
  8. The plan also offers settlement option for a period of 5 years on maturity of the plan

LIC Plan 5 Years Double Money Conclusion

LIC is a reliable insurance company and the insurance plans offered by LIC are reliable and benefits the policyholder in many ways. To earn higher and good returns, endowment plans are the best however endowment plans offered by LIC provides good returns in the long term which is paid as bonuses declared by the insurance company. To earn higher returns in the short term, LIC unit-linked insurance plans can be brought which can fetch returns as much as the double money subject to market risk.

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