LIC Reviews, Ratings, Best Plans and USPs

LIC Single Premium Endowment Plan

This is an endowment plan with a single premium

INR 50,000

25 years

LIC New Endowment Plan

-

INR 1 lakh

35 years

LIC New Jeevan Rakshak

This is an endowment plan that is ideal for individuals who want a non-linked and non-participating plan. The plan comes with both savings and protection features. The plan provides death benefits, maturity benefits, and loan facility options against the policy.

INR 75,000 per member insured

20 years

LIC Limited Premium Endowment Plan

-

INR 3 lakh

12 years, 16 years, and 21 years

LIC New Jeevan Anand

The policy provides return benefits of up to either 125% of the sum assured or two times the value of all premiums paid. There is also a minimum death advantage provided to the nominated. This advantage is provided at 105% of the value. The maturity benefit in this policy can also go up to INR 2 lakh.

INR 1 lakh

35 years

LIC Jeevan Labh

This is an endowment plan that comes with participating features. The policy provides profits to the policyholder in the company. This means that the policyholder can enjoy simple reversionary bonuses with the final additional bonuses provided at the maturity of the plan. The death benefit is also provided at 105% of the total sum assured value.

INR 2 lakh

16 years, 21 years, and 25 years

LIC Jeevan Pragati

This is a non-linked profit plan that provides automatic coverage for any risk for a duration of five policy years. Policyholders can get loans for liquidity needs against this policy. Other benefits provided with the plan include an accidental bonus, a basic sum assured payout of 125% in the 6th and 10th policy year, and a 150% value of the basic sum assured in the 11th and 15th year of the policy. After that, 200% of the basic sum assured value is provided.

INR 1.50 lakh

12 years to 20 years

LIC New Jeevan Lakshya

This plan can be taken by anybody over the age of 30 years. The policy term is a total of 25 years and the annualized premium for the basic sum assured value is an affordable INR 4,366. The plan also offers loan facilities along with maturity benefits. The plan is a type of non-linked endowment plan designed for individuals who want to opt for higher savings and protection at the same time.

INR 1 lakh

25 years

LIC New Money Back Plan - 20 Years

This policy comes with death benefits, maturity benefits, and survival benefits. There are some optional benefits that one can get at an additional premium. This is a participating policy that allows policyholders to enjoy the simple reversionary benefits by participating in the profits made by LIC.

INR 1 lakh

20 years

LIC New Money Back Plan - 25 Years

This plan comes with survival benefits, death benefits, and maturity benefits. This is a participating plan that provides the policyholder with a share of profit from the company.

INR 1 lakh

25 years

LIC New Bima Bachat Plan

The plan has very easy terms set for money back benefits. Between three years of the policy term, one can get a money back advantage of 15% of the total sum assured. In this plan, customers only have to pay a single large sum one-time premium. It is a type of one-time investment plan for people who want good and long-term investment opportunities.

INR 1 lakh

For a policy term of 9 years, the premium is INR 35,000. For 12 years, the premium is INR 50,000 and for 15 years, the value is INR 70,000

LIC Bima Diamond

This is a new plan that provides money back payouts to policyholders when they opt out of the plan. The basic sum assured value is paid in specified intervals. These intervals can range from 9 to 20 years. One can also get optional bonuses for an additional premium value.

10 times the value of annualized premium

12 years, 16 years, and 20 years

LIC Jeevan Tarun

This policy is ideal when it comes to meeting the educational and growing needs of children. This works through annual survival benefit payments made between 20 years to 25 years. Maturity benefits are provided at 25 years. The policy is also flexible and allows policyholders to choose the survival benefits at the time of purchase. This policy can be purchased by parents or grandparents for children under the age of 12 years.

INR 75,000

The policy term is 25 minus the entry age of the policyholder at the time of purchase

LIC New Children’s Money Back Plan

This plan serves the needs of a child in terms of allowing the child to nurture his or her skills or fulfill educational requirements. The plan helps the child move to adulthood easily. Parents can plan ahead with this policy for the benefit of their children.

INR 1 lakh

The policy term is 25 minus the entry age of the policyholder at the time of purchase

LIC Anmol Jeevan II

This plan has been made after some revisions. It offers fiscal protection to the family of the policyholder in case of his or her death.

INR 24 lakh

25 years

LIC Amulya Jeevan II

This is a basic and minimal plan that provides long-term investment for a child. The plan comes with regular benefits.

INR 25 lakh

35 years

LIC e-Term (LIC Online Term Plan)

This plan allows people to apply and maintain their term insurance plan online. It is a regular and non-participating plan that provides death benefits

INR 25 lakh or INR 50 lakh for non-smokers

35 years

LIC New Jeevan Nidhi

This plan provides life cover benefits and a stable source of income after retirement. This is an annuity plan that requires the payment of a single premium. One can choose the mode of payment according to his or her preference.

INR 1 lakh to INR 50 lakh

Not Applicable

LIC Jeevan Akshya - VI

The plan provides vesting and immediate annuity benefits. It helps in maintaining stability. This is a single premium pension plan that provides death benefits and other bonuses.

INR 1 lakh

Not Applicable

LIC New Jeevan Mangal Plan

This plan provides financial security to the family of the policyholder. It comes with accidental cover and other benefits that one can opt for at the time of purchasing the plan

INR 50,000

In the case of regular premiums, the policy term is between 10 years to 15 years and in the case of a single premium, the policy term is between 5 years to 10 years

LIC Bhagya Lakshmi

The plan provides protection of payment for a short time to the policyholder. The cover provided is 100% of the sum assured at the time of maturity. One can also get a death cover.

INR 50,000

The policy term is equivalent to two years plus the number of Premium Paying Terms (PPT)

LIC Group Credit Life Insurance

This policy is for larger groups, which must have more than 50 members. It only requires a single premium amount.

INR 4.5 lakh

5 years to 35 years

LIC Single Premium Group Insurance

This policy provides a high sum assured value for a group of 50 people or more. The policy also has non-linked and non-participating terms.

INR 10 lakh

2 years to 7 years

LIC New Group Leave Encashment Plan

This policy provides death benefits and encashment benefits. This policy is based on funds and is non-linked and non-participating in nature.

INR 1,000 Minimum

Can be renewed every year

LIC New One Year Renewable Group Term Assurance Plan I

This plan is ideal for small employers which could have around 25 employees

INR 1,000 minimum

Can be renewed every year

LIC New One Year Renewable Group Term Assurance Plan II

-

INR 1,000 minimum

Can be renewed every year

LIC New Group Gratuity Cash Accumulation Plan

This plan allows employers to give their employees a simple and convenient way of statutory gratuity benefit

INR 1,000 minimum

Can be renewed every year

LIC New Group Superannuation Cash Accumulation Plan

There are variable benefits provided in this plan. It comes with death benefits

Not Applicable

Can be renewed every year