Let’s begin with the Top 5 LIC Plans. Everyone knows about LIC because it is a very trusted insurance company and it offers many insurance plans and provides most life insurance plans. LIC provides all kinds of financial security for life and health. And the best part of this company is that it provides good financial security in a small amount. And this company is a very old company and has been providing insurance services to the people for a long time.
Top 5 LIC Plans To Invest In 2022
Only then Life Insurance Corporation of India is a big name in the life insurance business. LIC offers different types of insurance plans to meet the different needs of the people, each of which Has unique features and benefits. You can choose the plan according to your need and requirement. Let us discuss the 5 best LIC plans for different types of investments offered by LIC.
Take-Term Plan | Top 5 LIC Plans
Take-Term, a pure risk premium policy, is an online term policy and hence is cheaper as compared to other offline policies. If a policyholder wishes to double the sum assured under this policy, he/she can do so through payment of a premium of around 25 percent to 30 percent higher.
The policy allows the policyholder to purchase an accident rider as an add-on. The subscriber can opt for the options to receive the death benefit in installments over a chosen period of 5 or 10 or 15 years instead of a lump sum amount. Installments will be paid in advance at annual or half-yearly or quarterly or monthly intervals.
New Jeevan Aanand | Top 5 LIC Plans
New Jeevan Anand is an endowment policy offered by LIC. It is a participating non-linked policy 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 for a lump sum payment at the end of the policy term in case the insured survives.
Features of the new Jeevan Anand policy are: This policy takes care of the liquidity needs through the facility of loans.
Jeevan Umang | Top 5 LIC Plans
Jeevan Umang policy offers annual survival benefit from the end of the premium paying term till maturity and lump sum payout at the time of maturity or on the death of the policyholder during the policy term. It is one of the very few policies in the region that offer life insurance of 100 years.
The plan pays 8 percent of the Sum Assured every year as money back on survival at the end of the policy term. The Simple Reversionary Bonus and Final Additional Bonus are paid out subject to conditions. For someone looking for a pension facility after retirement, this is an ideal option.
Jeevan Shanti | Top 5 LIC Plans
It is a single premium policy that provides the policyholders the facility to choose between immediate and deferred annuity. Its main features and benefits are:
- For both types of annuity policies, guaranteed annuity rates are given at the inception of the policy which is payable throughout the life of the annuitant.
- Offers nine different annuity options to choose from, as per one’s investment objectives.
- Annuity rates are decided at the beginning of the policy term.
- The loan facility, available after the completion of 1 policy year, ensures liquidity.
- The policy can be surrendered after three months from the completion of the policy if the policyholder has opted for an annuity option with the return of purchase price.
- Particularly suitable for policyholders having a handicapped dependent (disabled) life.
- Available online as well as offline.
LIC Jeevan Labh | Top 5 LIC Plans
LIC Jeevan Labh is a non-linked, endowment policy with profits, a limited premium paying investment policy. Here are its main features and benefits:
- Serves the dual purpose of safety and savings.
- Provides death benefit, which is the sum assured payable to the beneficiary on the unexpected death of the policyholder.
- Maturity Benefit is included as a lump sum amount to be paid to the policyholder after the completion of the policy.
- Ensures liquidity through its loan facility.
- Policyholders are eligible to receive Simple Reversionary Bonus, provided the policy is in force.
- The final (additional) bonus is also payable during claim settlement in case of death or maturity of the policy.
- Rider for complete safety.
LIC Money Back Plan | Top 5 LIC Plans
LIC Money back plan is the most convenient policy where people are looking for life cover, tax-saving, and no longer locking their money. With LIC Money Back Plan you have the option to get a fixed amount back every 5 years. LIC money-back plans also provide an additional life cover of 5 years without premium payment. It is the most suitable scheme for working women as it provides a lot of flexibility.
Also Read: LIC Jeevan Arogya Insurance Plan