If you are Looking for the best insurance plan in LIC and want to Buy LIC Policy to secure your familey then read this article. I will guide you transparently that which is the best insurance plan in Life Insurance Corporation of India.
So now your search is about to end in this post. Because in this post we have talked about many such LIC insurance plan which is the best plan right now.
Lets get start!
LIC Best Insurance Plans
First of all, let me know, LIC is a Life Insurance Company that owned by Government of India. In the market, There are total 24 insurance company where you can buy life insurance policy.
If you are willing to buy the best life insurance policy in LIC and you are searching on the internet which is the best LIC plan. Then relax, as I am an insurance consultant and I am working in LIC since 2016 with 5 years experience.
I have given my best experience in this article. So don’t worry you will get complete information about best life insurance policy.
Well LIC has many insurance plans like term plan, endowment plan, savings plan, money back policy, pension plan, whole life plan, child plan, tax saving plan, term plan, health insurance etc.
Let me tell you one important thing here. All insurance plans of LIC are excellent. Because all the insurance plans of LIC have been designed according to the needs of the people.
what do you need now? What type of benefits do you want in an insurance policy? Do you want to plan your child’s education? Or you want to plan your retirement.
You are looking for the best plan in LIC to save money for your daughter’s wedding.
I mean, what do you need? What do you need after all? Insurance policies are bought according to your needs.
For this, you should talk to a good and professional insurance consultant who will give you good advice related to insurance and finance.
Here we will talk about the best plans of LIC.
After reading this post, you will be able to know which insurance plan is best for you. We will tell about some special features of LIC plans, so that anyone will be able to know how beneficial this plan is for them.
Let us talk about the best insurance plans of LIC.
LIC Best Insurance Policy List
LIC has many savings plans that offer maturity benefits, insurance cover, tax savings, accidental death rider, critical rider, loan etc.
If you are looking to buy the best endowment plan then here is a short list of best LIC endowment plans. You should check out these plans which have great features.
The best selling plans of LIC are Jeevan Labh, Jeevan Anand, New Endowment, Child Money Back, Jeevan Akshay etc. Apart from this, there are other insurance plans which have good features and benefits.
Let us talk about some other special insurance plans of LIC.
If you are looking for a child plan in LIC then you should check out LIC’s best child policy. Here is the list of best children policy in LIC.
- Children Money Back, Table No – 932
- Jeevan Tarun, Table No – 934
- Jeevan Umang Plan, Table No – 945
- Single Premium Endowment Plan, Table No -917
If you are interested in pure life insurance coverage then you must check LIC’s term plans. Because in term insurance you will get pure insurance cover.
I have already told about what is term plan in my blog and I have also covered this topic in this article. Because I know best insurance plan and cheapest insurance plan is term plan for pure insurance cover.
If you want to know about LIC term plan then keep reading this article or scroll down this page a bit. You will find two term plans of LIC which are Saral Jeevan Bima and Jeevan Amar Plan.
Let me tell you that LIC has some of the best insurance plans that you may like. Kindly keep reading like this as I have given a brief description about the best life insurance policy of LIC in this article.
LIC Jeevan Labh Plan, Table No – 936
LIC Jeevan Labh is a savings plan, non linked and limited premium payment insurance plan. LIC’s best selling insurance plan is Jeevan Labh.
If we talk about the popularity of Jeevan Labh plan, then this plan is the most preferred insurance plan.
From LIC employees to common man, policy holders and insurance agents, all these people recommend this plan for the features of life insurance, maturity benefits, protection, investment and savings.
Because this plan gives good return of profit with good insurance coverage.
Jeevan Labh plan is one of the best selling plans. Jeevan Labh Plan can fulfill your future goals.
With Jeevan Labh plan, you can get a huge amount under your insurance coverage, future planning, retirement plan, future finance plan and maturity benefit.
In this Jeevan Labh plan, you will get Maturity Benefit, Death Benefit, Accidental Death Benefit, Loan Benefit, Surrender Benefit, Income Tax Benefit, Critical Illness Rider Benefit, Term Rider and your retirement goals.
Let us know about some special things of Jeevan Labh and its other points.
Jeevan Labh details:
- The table number is 936 of this LIC Insurance Plan.
- To buy Jeevan Labh plan, it is mandatory for you to be in the age group of 8 years to 59 years.
- This plan is a limited premium payment hence lesser number of years premium has to be paid as compared to the term.
- The term and PPT in this plan are something like this. The first is 10/16, the second is 15/21 and the third is 16/25.
- Under this plan, you get Maturity Benefit, Death Benefit, Accident Benefit and Loan facility
- The minimum sum assured in this plan is 2 lakhs and there is no limit on the maximum sum insured..
- You can buy Jeevan Labh plan through an insurance agent. This plan is not available online.
- Under this scheme, you can take the benefit of income tax as per Section 80C and Section 10/10D.
- Renewal premium of Jeevan Labh plan can be paid online and offline.
- According to other plans of LIC, the bonus rate is the highest in this plan.
- To buy this plan, you will need proposal form number 300, 360 and 340 (according to age).
- Your documents to buy this plan is something like this. Such as ID proof, address proof, age proof, bank account, photo copy and covid certificate.
Jeevan Labh plan is a great insurance plan. Whatever your budget, Jeevan Labh is available to you. If you like this LIC Best plan, then you must know more about this plan.
If you want complete information about Jeevan Labh Yojana then comment below, by which you will write a post about the complete information of LIC New Jeevan Labh Plan.
LIC Jeevan Anand Plan
Do you know what is the most popular tag line of LIC?
Actually LIC Its brand tag line is – “Zindagi Saath Bhi Aur Zindagi Baad Bhi”
The best plan of LIC’s brand tag line is LIC Jeevan Anand Plan. Because even after the maturity of this scheme, money is available. Means life enjoyment policy is not only with life, it is also after life.
If you are looking for the best insurance coverage and looking for the best insurance plan, then you can check out the LIC Jeevan Anand plan. It is a pure insurance coverage, life time insurance cover and a non linked insurance plan.
Its special thing is that life time insurance cover is available in Jeevan Anand. Insurance coverage remains even after the maturity of the policy. After the maturity of the policy, whenever the policy holder dies, then again the nominee gets the benefit of sum assured in the death benefit.
Let us discuss about some special things of LIC Jeevan Anand and its other benefits.
Jeevan Anand Details:
- LIC Jeevan Anand Plan is a great insurance plan.
- In this plan, you get the benefit of life time insurance cover.
- The age limit of this scheme is 18 years to 50 years.
- The tenure in Jeevan Anand plan is 15 years to 35 years.
- In this plan the minimum sum assured is 1 lakh and the maximum sum assured is unlimited.
- The facility of surrender and loan is available after 2 years of this scheme.
- There is maturity and death benefit in the bliss of life.
- Income tax is exempted in this plan of LIC.
- Jeevan Anand plan has accidental death benefit.
- You can buy this plan through an insurance agent.
LIC’s Jeevan Anand is a good profit paying insurance plan. If you are searching for LIC Best Plan then you can see Jeevan Anand. If you want complete information about this scheme, then tell in the comment.
LIC Saral Bima Plan,
LIC Saral Bima Plan is a non-linked (which is not linked with the stock market) and pure risk cover plan. This plan is a term plan which is called term insurance.
If you want to buy life insurance policy for insurance coverage then you should look at LIC’s Saral Bima plan. Because it is a term plan in which coverage of only life insurance is available.
The special thing about LIC Saral Bima Yojana is that this plan is a term plan. Term plan is the cheapest life insurance plan. On the other hand, if you buy an endowment plan, it is costlier than a term plan.
Let us know about some special things about LIC Saral Bima Yojana and its other benefits.
Saral Bima Plan:
- LIC Saral Bima Plan is a term insurance plan.
- In this scheme the minimum sum assured is 5 lakhs and the maximum sum assured is 25 lakhs.
- Saral Bima Yojana can be taken for 5 years to 40 years (term).
- Your age should be between 18 years to 65 years to take this term plan.
- There are 3 modes for premium payment in this plan. Like paying regular premium, paying single premium for a limited period of time.
- There is no maturity, loan and surrender benefit in this insurance plan.
- LIC Saral Bima Plan is a term insurance hence the plan has only death benefit.
- Under this scheme, policy holders can take exemption under Income Tax Section 80C.
- After the expiry of the term of Saral Bima Yojana, no benefits are available.
- Monthly, Quarterly, Half Yearly, Yearly mode available for premium payment.
- There is a waiting period of 45 days for insurance coverage in this plan.
In LIC Saral Bima Yojana, you cannot take sum assured above 25 lakhs. Because in this scheme the maximum sum assured limit has been kept up to 25 lakhs only.
Saral Bima Yojana is for those who want to take only insurance coverage. Because in this plan you do not get any other benefit.
In LIC Saral Bima policy, if the policy holder dies, the nominee receives the death benefit. The number of sum assured policies that the policy holder has purchased will be sum assured in death benefit.
Apart from this, there is no other benefit in this scheme. Like maturity, loan, surrender, survival all these are not available in this plan.
On the other hand, if you want to take a term insurance of more than 25 lakhs, then you have to look at LIC’s other term plan Jeevan Amar plan.
Let us talk about LIC Jeevan Amar plan.
LIC Jeevan Amar plan
LIC Jeevan Amar plan is a non linked and pure protection term plan without any profit. There are two options for death benefit in this plan. The first option is Level Sum Assured and the second is Increasing Sum Assured.
The first is Level Sum Assured, in which the sum assured you buy, covers the same sum assured for the entire insurance term.
And in the second increasing sum assured, the sum assured starts increasing by 10% every year after the completion of the policy for 5 years. The sum assured becomes double at the time of the policy completion of 15 years.
When the sum assured becomes double then it stops growing at 10% every year from then onwards.
Increasing sum assured doubles the insurance cover after 15 years of the policy.
There are two categories of premium rates in this plan. The first is a non smoker and the second is a smoker. There is a separate premium rate for a person who smokes and a separate premium rate for those who do not smoke.
There are 3 options to pay premium in LIC Jeevan Amar plan. First is regular premium, second is limited premium and third is single premium.
Jeevan Amar plan:
- LIC Jeevan Amar plan is a term insurance.
- The policy term in this plan has been kept from 10 years to 40 years.
- The age limit of this scheme is 18 years to 65 years.
- The minimum sum assured in Jeevan Amar is 25 lakhs.
- There is no limit on the maximum sum assured in this plan.
- There are 3 options for premium payment.
- Loan, surrender and maturity benefits are not available in Jeevan Amar.
- In Jeevan Amar term plan, the nominee will get only death benefit.
- Income tax is exempted under section 80C under this scheme.
- There is premium exemption for non-smoker in this term plan.
- You can add Accidental Death Benefit Rider to Jeevan Amar plan.
- You can contact the insurance agent to buy this plan.
LIC Jeevan Amar plan is a great life insurance plan. In which you get pure protection insurance cover. Under this scheme you can keep your family safe.
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