If you also want to invest in LIC, then in this article we have given information about the Best LIC Life Insurance Policies to Invest for the Future. As you feel, investing in the Insurance Corporation of India (LIC) is a wise option. By investing you can earn good profits and savings.
In this article, we are going to talk about the best life insurance policy for LIC. If you also want to invest in LIC or have already done so, then you should read carefully. In this article, you will be told about the benefits of the best LIC plan.
Best LIC Life Insurance Policies
When it comes to investing in LIC policies, it can feel overwhelming, especially for newcomers. But don’t worry; the Life Insurance Corporation of India (LIC) is a great option. It’s backed by the government, which makes it a safe choice. In this article, we’ll explore the best LIC investment plans for 2023, highlighting those with the potential for high returns. We’ll help you understand these options better, making your search for the best LIC coverage easier.
1. LIC Jeevan Umang
LIC Jeevan Umang is a life insurance plan offered by Life Insurance Corporation of India (LIC). It’s a unique policy that provides both life insurance coverage and guaranteed payouts at regular intervals. With this plan, you can secure your family’s financial future and enjoy periodic income, ensuring peace of mind for you and your loved ones. It’s a straightforward and reliable way to protect and plan for your financial well-being.
Benefits
- Death Benefit: Paid to the beneficiary. Different scenarios determine the payout.
- Survival Benefit: If you live through the period when you pay premiums, you’ll receive yearly payments.
- Maturity Benefit: If you live through the policy, a lump-sum payout occurs.
- Rider Benefits: Multiple rider options for enhanced coverage.
2. LIC SIIP Plan
The LIC SIIP (Systematic Investment Insurance Plan) is a straightforward and beneficial financial offering by LIC (Life Insurance Corporation of India). It combines insurance and investment to help individuals secure their financial future. With this plan, you can invest a specific amount of money at regular intervals, which then gets invested in the market.
The LIC SIIP allows you to choose from various investment options like equity, debt, or a mix of both, depending on your risk tolerance. It also provides life insurance coverage, ensuring that your family is financially protected in case of unfortunate events.
Benefits
- Death Benefit: Beneficiary gets the highest unit fund value, 105% of the premium paid, or basic sum assured, as a lump sum or installments.
- Maturity Benefit: Receive final fund value and refunded mortality charges on completing the policy term.
- Rider Benefit: Accidental death rider offers added coverage in case of accident-related demise.
3. LIC Bima Jyoti Plan
The LIC Bima Jyoti Plan is a straightforward life insurance policy offered by the Life Insurance Corporation of India (LIC). This plan is designed to provide financial security and savings for you and your family.
Here’s how it works: You pay regular premiums for a specific term, and in return, LIC guarantees a lump sum amount to your loved ones in case of your unfortunate demise during the policy term. If you survive the policy term, you receive the maturity benefit, which is a lump sum amount paid to you.
This plan is simple and easy to understand, making it a suitable choice for individuals looking for life insurance with savings. It offers peace of mind, knowing that your family’s financial future is secure, and it’s a reliable way to accumulate savings over time.
Benefits
- Death Benefit: Family receives sum assured plus guaranteed additions, higher of 125% Basic Sum Assured or 7 times annual premium.
- Maturity Benefit: Survivors receive a basic sum assured with guaranteed additions.
- Rider Options: Choose from Accidental Death and Disability, Accident Benefits, and more.
FAQ
Q1. What is LIC Jeevan Umang, and what are its benefits?
LIC Jeevan Umang is a unique life insurance plan offered by LIC. It provides life insurance coverage and guaranteed payouts at regular intervals. The benefits include a death benefit, survival benefit, maturity benefit, and various rider options for enhanced coverage.
Q2. Can you tell me about LIC SIIP Plan and its advantages?
The LIC SIIP (Systematic Investment Insurance Plan) combines insurance and investment. It allows you to invest a specific amount at regular intervals in the market, offering options like equity, debt, or a mix of both. It provides death and maturity benefits, with an accidental death rider for added protection.
Q3. What is LIC Bima Jyoti Plan, and how does it work?
The LIC Bima Jyoti Plan is a simple life insurance policy designed to provide financial security and savings. You pay regular premiums, and in case of your demise during the policy term, your family receives a lump sum amount. If you survive the term, you receive the maturity benefit. It’s a straightforward and reliable way to secure your family’s financial future.