Best LIC Plan to Invest

Life Insurance Corporation (LIC) is a state-owned insurance and investment company in India. LIC is the oldest player in India in the insurance sector and has been catering to various insurance needs of the people for decades. LIC has successfully grabbed the market with maximum customers. It now has extensive market reach with a wide variety of insurance plans which fulfil the needs of every generation. LIC keeps offering different products from time to time in order to meet the variant requirement and needs of the people.

Best LIC Plan to Invest

LIC offers different types of Insurance Plans with each having unique features and benefits to fulfil the variant need of the people. You can choose a plan as per your requirement and needs. Let’s discuss the 5 best LIC plan to invest of different types offered by LIC.

New Jeevan Anand

New Jeevan Anand is an endowment plan offered by LIC. It is a participating non-linked plan that offers a combination of protection as well as savings. It provides financial protection against death throughout the life of the insured and also provides the provision of a lump-sum payment at the end of the policy tenure in case of survival of the insured. This plan takes cares of liquidity needs through the facility of loan. Features of the New Jeevan Anand plan are:

1. The death benefit in the form of sum assured along with vested simple reversionary bonuses is provided.
2. It offers to participate in the profits of LIC and receive bonus declared by the company
3. It provides maturity benefit as the basic sum assured and vested bonuses as well as an additional bonus at the end of the term of the policy.
4. The plan offers an option of regular payment of premium to the insured individual

Jeevan Tarun

Jeevan Tarun is a participating non-linked Money Back Insurance Plan which offers a combination of protection and savings for children. This plan is designed in order to meet the educational needs and other needs of growing children through payments of annual survival benefits from 20 to 24 years of age and maturity benefits at the age of 25 years. The features of this plan are:

1. This plan can be purchased by a parent or grandparent for a child of up to 12 years.
2. It is a flexible plan in which you can choose the proportion of survival benefits to be availed during the policy tenure.
3. The death benefit shall not be less than 105% of the total premiums paid as on the date of the insured.
4. It also provides loan facility thereby taking care of your liquidity needs.

LIC’s Tech-Term

LIC’s Tech-Term is a Non-Linked and pure protection online term insurance plan. It is a plan without profit and it provides financial protection with the family of the insured in case of his/her unfortunate death. However, no benefits are provided if the policyholder survives the term of the policy. The features of this plan are as follows-

1. The plan is available through the online application process only.
2. The plan offers the choice of a single premium or regular premium option
3. The plan provides the choice of two benefit options which include the Level sum assured and Increasing sum assured.
4. This plan provides an option to increase your coverage by option for accidental benefit rider by paying additional premiums.

New Endowment Plus

New Endowment Plus is a unit-linked non-participating endowment assurance plan they offer investment as well as interest cover during the policy tenure. The plan is designed to provide a very good combination of long term savings and protection. It provides financial support to your family in the event of your unfortunate death and its greater flexibility which helps to build a life and live your dreams. Features of New Endowment Plus are as follows:

1. The plan offers a choice of investing premiums in any one of the four types of investment funds available.
2. Death benefits are paid to the family of the insured if the insured dies during the tenure of the policy
3. Premiums can be paid regularly on monthly, half-yearly, quarterly or yearly basis.
4. Loan facility is also available provided premiums of three years have been paid.

LIC’s Jeevan Shanti

Jeevan Shanti Plan is a flexible pension annuity plan which has an option to choose an immediate or deferred annuity plan. It offers nine different options to choose from to meet your different financial circumstances and needs. It is a single premium plan and the rates of annuity in this plan are guaranteed at the inception of the policy for both immediate as well as a deferred annuity plan. The main features of Jeevan Shanti plan are the following:

1. This plan provides guaranteed lifelong incomes in one-time investment.
2. The plan can be availed either individually or as a joint insurance plan with a spouse, children, etc.
3. Loan facility is also available after expiry of one year
4. The plan can also be brought online from the website of LIC

Best LIC Plan to Invest Conclusion

LIC offers a wide range of insurance plans which enables a person to easily choose one which best suits their financial needs, liquidity needs, retirement needs, etc. There are many LIC policies with the lowest premium which helps you to pay the premiums easily without any financial burden. Hence it is advisable that before you buy a plan access your need and requirement so that you can make a better and informed decision.