Best LIC Plan 2023: Life Insurance Corporation of India (LIC) has more than one best insurance plan available. Such as endowment plan, term plan, children plan, money back plan, single premium plan, unit linked insurance plan, pension plan, health plan etc. Despite having so many plans, there are some best LIC insurance plans that sell the most. In such a situation, which LIC Best Plan of 2023 will be better for us, let’s compare.
Top 8 Best LIC Plan of 2023
Whenever we buy an insurance policy, we have to take special care of our future plans and requirements. Before buying any insurance policy, one has to take special care of his basic needs like savings and investment, children’s education and marriage, life cover for unforeseen circumstances, pension fund generation, pension scheme, tax savings etc. Keeping all these things in mind, in this article we are going to tell you about Top 7 Best LIC Plan 2021.
1. New Endowment plan (914)
New Endowment Plan is a basic and classic plan from LIC of India, which offers an attractive combination of protection and savings features. Which is simplest and very easy to understand. This combination provides financial assistance any time before maturity for the family of the deceased policyholder and a good lump sum amount at the time of maturity for the surviving policyholders.
The scheme also takes care of the liquidity needs through its loan facility. The scheme is suitable for saving and insurance and generating pension corpus at very low premium.
2. LIC Tech Term Plan (854)
This is a completely online plan and you cannot buy it from any agent. For this reason, it is cheaper as compared to other term life insurance plans offered by LIC. You can buy this scheme through online application process only. You cannot take it through an insurance agent.
This plan is available for life insurance up to 40 years for the age group of 18-65. If you or any member of your family is in the age group of 18 to 25 years, then by paying only 7216 annual premium for 30 years, you can take a term insurance of 1 crore. Under this plan, the family of the insured also gets financial protection in case of his unfortunate death. This can be a best LIC plan for you.
3. LIC New Jeevan Anand (915)
LIC’s New Jeevan Anand plan is a participating non-linked plan. Which is one of the best selling plans of LIC available for the age group of 18-50 years. The scheme is suitable for savings and investment, pension fund generation and tax saving. The scheme also takes care of the liquidity needs through its loan facility.
Under the LIC New Jeevan Anand (915) plan, not only does the policyholder get a hefty return on survival, as well as financially helps the family after the death of the policyholder. Whatever you take under this policy, you will get life coverage of 125% of that.
4. LIC Jeevan Lakshay (933)
LIC’s Jeevan Lakshya plan is a unique plan that ensures cash flow in case of untimely demise of the policyholder. The scheme is available for the age group of 18-50 years which is considered best suited for securing guaranteed annual income to the family members in case of death of the bread earner of the family.
It provides 10% of the Sum Assured every year to the nominee for the remaining policy years and the nominee does not have to pay the remaining premium. In this the premium paying term is 3 years less than the policy term, if a policy matures in 13 years then premium will have to be paid only for 10 years.
5. LIC Jeevan Labh (936)
LIC’s Jeevan Labh is a limited premium paying, non-linked, with-profit endowment plan that offers a combination of protection and savings. The plan provides financial support for the family in case of unfortunate death of the policyholder at any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. The scheme also takes care of the liquidity needs through its loan facility.
Jeevan Labh policy is preferred by most policyholders because of its limited premium paying facility, for example, a 25 year plan requires only 16 years of premiums to be paid. This plan can be suitable for basic insurance and savings, pension fund generation and tax saving.
6. LIC Jeevan Umang (945)
LIC Jeevan Umang is a whole life insurance policy available for the age group of 0-55 years with premium paying term of 15, 20, 25 and 30 years. After completion of premium paying term, this policy offers 8% of Basic Sum Assured every year till the policyholder reaches 99 years of age and maturity at 100 years of age.
This policy is available to individuals whose age is between 3 months to 55 years. The policy term depends on the age of the policyholder at the time of purchase and is (100-age) at the time of purchase.
7. LIC Jeevan Shanti Pension Plan (850)
LIC Jeevan Shanti is a single premium annuity plan. This plan can be used to receive fixed payments at regular intervals for the rest of your life. The scheme is available for the age group of 30-85 years with a moratorium period option of 1-20 years.
In this plan, a policyholder deposits a single premium and starts receiving a guaranteed pension for life. The policy is available for both single and joint life.
8. LIC Jeevan Amar
LIC Jeevan Amar was launched by Life Insurance Corporation of India in August 2019. This is a pure term plan. It does not give any kind of return to the insured. However, it provides the necessary financial support to the family in case of the death of the insured.
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This plan is available for life insurance up to 40 years for the age group of 18-65. It helps them to lead a stable and secure life. This plan is a non-participating and non-linked life insurance term plan that offers a wide range of options to the customers as compared to other insurance companies.
