When it comes to insurance policies that will safeguard you and your loved ones, there is no more trusted option than life insurance corporation or LIC. LIC is the biggest insurance providing company in India, where everyone can find their type of policy easily. You can find some of the best LIC policies like money back plans, retirement plans, term plans, child plans, endowment plans, etc.
These plans will not only help in safeguarding the future financially but will also help with tax savings and covering various risks that you may face in case of unfortunate events. A person can simply choose a policy, or many policies, or can even pick a combination that will suit your demands and requirements while keeping in mind the eligibility as well.
1. Jeevan Labh
LIC’s Jeevan Labh Plan is a non-linked endowment plan that will provide both protection against risks and savings as well. In this plan, there are several benefits like death benefits, maturity benefits, and even some rider benefits like disability and assurance riders.
2. Jeevan Lakshya
In LIC’s Jeevan Lakshya, the policyholder and the nominee get benefits after the death of the policyholder. In case of the death of the main policyholder, the nominee will be given regular income and maturity benefits paid during the maturity period.
3. Jeevan Umang
This policy is among the LIC best policy that will give a life cover. Jeevan Umang LIC policy provides three kinds of benefits namely, a death benefit, maturity benefit once the maturity term is over, and survival benefit once the premium paying term is over.
4. New Jeevan Anand
New Jeevan Umang’s plan of LIC is an insurance plan that protects in case of the demise of the policyholder. It also will pay back the savings after the completion of the maturity term. This plan is also effective for liquidity purposes as a loan facility is included in it.
5. Money-back plan
The money-back plan by the LIC is a plan that comes under the endowment plans category with the periodic payments. The plan also covers the death of the policyholder by providing sum assured of death benefits without deducting survival benefits.