List Of The 6 Best LIC Policies To Invest In 2022

Posted by  Fintra , updated 2021-12-20

List Of The 6 Best LIC Policies To Invest In 2022

LIC policies provide a one-stop solution for all the insurance requirements of a buyer. Life Insurance Corporation of India (LIC) offers an extensive range of insurance products that cater to various needs of the insurance buyer. As per the policyholder's needs and choice, the policyholder can select from the varied LIC plans that range from pure protection to whole life, endowment, and money-back plan. Some of the best plans which offer comprehensive coverage are LIC Tech Term Plan, LIC New Jeevan Anand, LIC Jeevan Umang, LIC Jeevan Shanti, LIC Money Back 25 Years, and LIC Jeevan Amar. 

A life insurance policy is an agreement or a contract between an insurance firm and the policyholder. The insurance firm assures to provide financial coverage under which it guarantees to pay a lump sum amount of funds to the nominated beneficiary in the unfortunate event of the policyholder’s demise during the term of life insurance plans. In exchange, the policyholder agrees to pay a predefined amount of funds as a premium as a single premium or on a regular basis.

                            What is life insurance

LIC offers various sorts of Insurance Plans where each one has unique benefits and features to fulfil the variant needs and requirements of the people- They can pick one as per their choice. In this blog, Fintra will highlight the best LIC plans to invest:

  1. LIC Tech Term Plan
  2. LIC New Jeevan Anand
  3. LIC Jeevan Umang
  4. LIC Jeevan Shanti
  5. LIC Money Back 25 Years
  6. LIC Jeevan Amar 

When choosing the best LIC policy, one needs to first compare all the LIC plans and read them in detail. Here below Fintra will briefly describe the top LIC plans along with their features and benefits:

LIC Tech Term Plan

The LIC Tech Term Plan is a profit, non-linked pure protection plan. Since this LIC plan is available only via the online application process with no intermediaries involved, it is known to be cheaper than other offline plans. LIC Tech Term Plan provides financial security to the insured's family in the unfortunate event of his/her demise. 

                         LIC Tech Term Plan

Features and Benefits of LIC Tech Term Plan

LIC New Jeevan Anand

                          LIC New Jeevan Anand

LIC New Jeevan Anand is an endowment plan that's a participating non-linked plan offering a combination of protection and savings. This plan provides financial protection to the insured's family in case of the unfortunate demise of the insured person. Besides being known as one of the best life plans, the LIC New Jeevan Anand plan even offers maturity benefit to the insured in case he/she survives the entire policy's tenure. This plan takes care of the liquidity needs of the family through the loan facility.

Features and Benefits of LIC New Jeevan Anand

LIC Jeevan Umang

Termed as one of the best LIC plans, the LIC Jeevan Umang is a non-linked, participating individual whole-life insurance plan that provides both the benefits of income and protection to the family. This plan offers annual survival benefits to the insured from the end of the premium paying term until maturity. Moreover, the plan even offers a lump sum payment at the maturity time or a death benefit that is paid to the nominee of the LIC policy if the demise of the insured during the policy term. LIC Jeevan Umang is claimed to be among those very few plans in the sector that offers life coverage of nearly 100 years. This plan is a perfect pick for those seeking a pension facility after retirement.

                       LIC Jeevan Umang

Features and Benefits of LIC Jeevan Umang

LIC Jeevan Shanti

LIC Jeevan Shanti is a single premium plan offering the policyholders the flexibility to choose between Immediate and Deferred Annuity. 

                           LIC Jeevan Shanti

Features and Benefits of LIC Jeevan Shanti

LIC Money Back 25 Years

                      LIC Money Back 25 Years

LIC Money Back 25 Years is a non-participating, individual life insurance plan, and is also a limited premium payment plan. It offers an attractive combined benefit of insurance coverage and money-back in the form of periodic payment on survival at the specific duration during the tenure of the policy. This combined benefit acts as a financial backup for the family when the insured one passes away and also provides a lump sum amount at the time of maturity of the policy if the insured one survives the entire policy's tenure. This plan even takes care of liquidity needs through the loan facility.  

Features and Benefits of LIC Money Back 25 Years

LIC Jeevan Amar

Being one of the best LIC policies, the LIC Jeevan Amar is with profit, it's a non-linked pure protection plan offering flexibility to the policyholder to select from two different options of the death benefit. This plan provides comprehensive insurance coverage to the family of the insured in case of any eventuality. 

                         LIC Jeevan Amar

Features and Benefits of LIC Jeevan Amar  

Conclusion

LIC offers a broad range of insurance plans that enables you to easily choose the right one that best suits your financial needs, liquidity needs, retirement needs, etc. As described above, various LIC policies have low premiums, enabling you to pay them easily without any financial burden. Hence, Fintra advises before purchasing a LIC plan, first analyze your needs and requirements before making an informed decision.

 

 

 

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