Best LIC Plans – LIC Policies to Invest in 2017-18
LIC is the major insurance and life assurance company in India. It is a Government undertaking organization and is serving since 1951 with its amazing and profitable plans. LIC has covered over 75% of Indian insurance market due to its top paying plans and amazing payouts. LIC plans are designed to benefit and pocket convincing for each and every level of society. A low earning person also has an option to invest in Best LIC plan with minimum premiums as per their effort. Though there are dozens of LIC plans operating in market but there are some of the most renowned and demanding LIC plans which are ranked high among all.
Jeevan Saral –
Jeevan Saral is LIC’s top selling plan. This plan is for children for their higher education or career prospects or marriage. Under this plan the proposer has to simply select the premium amount, premium mode and term period. Proposer has to deposit premium amount and at the end of maturity period he or she gets the sum assured which he can invest for his child’s education or future prospects.
Premium Mode – Premium mode for this plan is very flexible as proposer can opt between yearly, half yearly, quarterly, monthly or ESC. ESC is an option in which proposer can link his bank account with LIC and monthly premium automatically get paid from his account.
Additional Benefits – In additional benefits, proposer gets some bonus as per market rate at the death of proposer or insured person or at the maturity period. Additional benefits get active from the 10th year.
Jeevan Anand –
Jeevan Anand is another most profitable plan of LIC. This plan is a combination of both endowment and whole life plans. Under this plan the insured person or proposer gets complete life assurance plan for the maturity period. At the end of maturity period proposer gets the full payout. But plan doesn’t gets over here, another benefit of sum assured is received by the nominee at the death of insured person.
Premium Mode – Premium mode for this plan is similar to the previous plan, Jeevan Saral. One can choose for yearly, half yearly, quarterly and monthly or ECS.
Additional Benefits – Additional benefits are also same as Jeevan Saral. Insured person gets bonus on market rate along with his sum assured at final payout.
Endowment Plus Plan –
Endowment plus plan is a insurance cum investment plan which is constituted of insurance plan benefits rather it also consist of market investment benefits. Under this plan a proposer is assured with choice of premium amount and premium mode. Proposer has to choose among the four market options where he or she wants his money to be invested, just like share market. Once proposer has chosen the options he or she gets the final payout at the end of term period. If the proposer is dead then the nominee will get the value of the money at present time. Though this plan is based on market investment therefore there are no sum assured.
Premium Mode – Premium mode is similar as yearly, half yearly, quarterly, and monthly or ECS. The minimum entry age for this plan is 7 years whereas the maximum entry age is 60 years. Term period for this plan is between 10-20 years.
New Bima Gold –
As it is likely said that gold never loses its value and the same is LIC’s this plan, New Bima Gold. This plan is a money back plan which offers most benefits to the proposer. Under this plan, proposer has to choose premium term period and sum assured. One gets the percentage of sum assured at the end of every 4th, 8th, 12th and 16th year. Proposer also gets the extended term period for his life assurance.
Premium Mode – Premium mode for this plan is either one time full payment or in installment basis for two years. Term period for this plan is for 12 years, 16 years and 20 years.
Additional Benefits – This plan is full of additional benefits as proposer gets 15% or 20% of sum assured at the end of every 4th, 8th, 12th and 16th year of term period. If insured person is dead before maturity period than the sum assured is paid with 100% benefit to the nominee and if insured person is dead in extended period then the nomine gets the 50% of sum assured.
Jeevan Saathi Plan –
This plan is for couples i.e. husband and wife which cover the life of both the people. Under this plan the husband and wife both are insured for a term period and get paid back at the end of maturity period while any of the two living. The sum assured is paid to the nominees if both the insured persons are dead.
Premium Mode – Premium mode is similar as yearly, half yearly, quarterly and monthly or through ECS.
Additional Benefits – This plan is engraved with some amazing benefits as the insured couple get the additional bonus as per market rate along with sum assured. Bonus along with sum assured is also applicable if the insured couple is dead. Different from other plans, bonus with this plan is active after few years rather than long 10 years.
Best LIC Plan – Bima Bachat –
Bima Bachat is another money back plan of LIC. This policy is quite similar to New Bima Gold plan but the only difference is premium mode. In this plan, proposer has to invest one time premium according to the sum assured to get at the end of maturity period. Policy holder gets the 15% of sum assured after every 3rd, 6th, 9th and 12th year of term period.
Premium Mode – Premium mode in this plan is quite easy and simple as policy holder has to just pay one time premium. Term period of policy is defined for 9 years, 12 years and 15 years.
Additional Benefits – There are numerous benefits attached with this plan. Policy holder gets additional bonus as per market rate on sum assured. If policy holder wants to surrender the policy, he has the option from the 1st year of term period with 90% of premium paid. This is the only plan which offers loan facility for policy holder.
Best LIC Plan – Jeevan Aadhar & Jeevan Vishwas –
This plan is specially designed by LIC for physically or mentally handicapped dependents. A person who has handicapped dependents, then they can go for this policy. This policy is for the benefit of those dependents with and after the life of caretaker.
Premium Mode – Premium mode is usual as other plans. The term period for this plans are 10, 15, 20, 25, 30 and 35 years.
Additional Benefits – There are some usual benefits for this plan. Handicapped dependents gets bonus and sum assured amount after the death of proposer and also for the life time of dependent. LIC Official
Best LIC Plan for NRI
LIC Bima Bachat
LIC New Bima Gold
LIC Endowment Plus plan
LIC Whole Life Endowment
LIC Best Plans for children
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