Buy a LIC policy with the best returns and life insurance coverage. Since 1956, LIC of India has been the most popular life insurance company in India. When considering insurance and investment options, Life Insurance Corporation of India (LIC) is one of the most reliable and trusted names in the Indian market. LIC offers a wide range of policies catering to different financial needs and life stages. These policies not only offer life cover but also provide opportunities to accumulate wealth through attractive returns, often with the added benefit of a sovereign guarantee. Below, we’ll explore various LIC policies, including those with best returns, children’s plans, money-back plans, pension plans, term plans, fixed-income plans, lifetime income options, NRI insurance, and investment plans.
1. LIC Policies with the Best Returns and Sovereign Guarantee
LIC is known for offering policies that come with attractive returns, making it a favored choice for long-term financial planning. Among the most popular options are endowment policies and the Jeevan Anand plan. These policies offer a combination of life cover and savings, providing returns in the form of bonuses and lump-sum payouts at maturity. The sovereign guarantee, backed by the Government of India, ensures the safety of your invested money, making these policies a reliable option for those seeking both protection and investment growth.
LIC fixed income plans are very popular all over the world. Indians living outside India like NRIs can also invest in LIC fixed income plans and get a monthly pension for a lifetime. LIC Jeevan Akshay and Jeevan Labh are also well-regarded for their returns. They allow policyholders to receive a lump-sum payout, along with bonuses that increase the total amount received over time.
2. LIC Children Plan for education and marriage planning
LIC plans offer the best benefits in children policies designed to secure a child’s future. The LIC New Children's Money Back Plan is a great example. This policy provides financial protection to a child in case of the unfortunate death of the parent. It also ensures that the child’s educational and financial needs are met at different milestones in their life. The policy has the added benefit of a money-back feature, where a certain percentage of the sum assured is paid out at key stages of the child’s growth, such as at the age of 18, 20, and 22.
Children plans from LIC also offer the advantage of tax exemptions under Section 80C of the Income Tax Act, making them even more attractive for parents looking to secure their child’s future while optimizing tax savings.
3. LIC Money-Back Plan
LIC’s Money Back Plan is a type of life insurance policy that provides periodic payments during the policy term, as opposed to a lump-sum payout at maturity. The LIC Jeevan Tarun is one such plan that ensures the policyholder receives a portion of the sum assured at regular intervals. These plans are beneficial for individuals who want both insurance protection and liquidity, as they can plan for upcoming expenses like children's education, weddings, or medical emergencies.
This plan also includes the option of bonuses, which can be added to the total sum assured, providing an extra cushion for future financial needs.
4. LIC Pension Plan : fixed income policy
LIC’s Jeevan Akshay series of pension plans are perfect for those looking to secure a steady income post-retirement. These plans offer a lifetime income after the premium is paid, with several annuity options to choose from. For example, the LIC Jeevan Akshay VI plan offers various annuity options, including a life annuity and an annuity with return of capital. The primary benefit of this plan is that it ensures a fixed income, making it ideal for retirees looking for a stable source of income.
LIC’s pension plans come with the assurance of government backing, making them reliable for those who want peace of mind in their retirement years.
5. Term Insurance Plans
LIC maturity payments and claim settlements are the highest in the Insurance industry. LIC Jeevan Amar is a term insurance plan that offers high coverage at an affordable premium. A term plan is one of the simplest forms of life insurance that provides financial protection for the family in case of the policyholder’s untimely death. With no investment component, term plans offer pure insurance coverage and are ideal for individuals seeking financial security for their loved ones without any complexities.
The LIC term plans are known for their flexibility in terms of policy duration and the sum assured, making them suitable for a wide range of individuals, from young professionals to older individuals and HNIs.
6. Fixed Income Plan
The LIC of India guaranteed fixed income plan is a big boon for old people who look for monthly guaranteed returns like salary. For those looking for stability and consistent returns, LIC offers fixed-income plans like LIC’s Jeevan Akshay VI, which provides guaranteed monthly or yearly payouts based on the selected annuity option. Fixed-income plans are often chosen by those looking for a predictable income stream, especially in the later stages of life. These plans are backed by LIC’s financial stability, making them a trusted choice for retirees or conservative investors.
7. LIC Lifetime guaranteed Income
LIC offers policies that guarantee lifetime income, ensuring that the policyholder continues to receive financial support throughout their life. The Jeevan Umang and LIC Jeevan Utsav is designed to give regular returns year-on-year for a lifetime. These policies are ideal for individuals seeking long-term financial security without worrying about outliving their savings.
8. NRI Insurance
LIC also offers a range of policies tailored for non-resident Indians (NRIs), providing them with the opportunity to invest in India’s thriving insurance market while enjoying the benefits of tax exemptions and life cover. The LIC NRI Jeevan Anand plan offers a combination of protection and savings, making it a good option for NRIs looking to secure their families back home.
These policies can be paid in foreign currency, and the benefits are available for NRIs residing in various countries. Additionally, LIC India's global presence ensures that NRIs can easily manage their policies from abroad.
9. Investment Plans
LIC India offers investment-oriented plans like the LIC’s New Endowment Plan and LIC Jeevan Labh, which combine insurance protection with wealth accumulation. These plans provide a balance of risk and return, with the opportunity to build a corpus over time. The plans offer bonuses, increasing the potential for higher returns. Additionally, these policies also provide tax benefits, making them a popular choice for individuals looking to combine insurance coverage with a sound investment strategy.
Buy LIC policy
LIC India is fully owned by the Government of India and offers a variety of plans that cater to different needs, from life cover and retirement planning to child education and investment opportunities. With sovereign backing and a history of financial stability, LIC policies offer a mix of insurance and wealth-building options, making them an excellent choice for both protection and investment. Whether you’re looking for a money-back plan, pension plan, or investment opportunity, LIC has something that suits your needs, with the added assurance of government-backed security.
