Best LIC Policies for Investment in 2022

Best LIC Policies for Investment in 2022


Given that it is a government-backed company, LIC policies might be a wise financial decision when buying a life insurance plan.

In addition to providing comprehensive life insurance, its insurance product line also gives customers the chance to save money and increase their wealth through market-linked returns.
The company boasts a sizable market share in India's life insurance industry and has a robust client base of more than 250 million people.


To meet the different needs of insurance customers, the Life Insurance Corporation of India (LIC) provides a wide variety of insurance products. Customers can pick between whole life, endowment, money-back, and unit-linked insurance products, depending on their needs, in addition to pure protection. These are some of the top LIC plans available right now among the various policies the organisation has provided.

Disclaimer: No specific insurer or insurance product provided by an insurer is endorsed, rated, or suggested by Policybazaar. Tax law changes might affect the tax advantage. *Normal T&C Apply
Buyers must compare the plans and carefully review the LIC policies in order to select the best one. Here, we've detailed the top LIC plans


LIC Bima Jyoti Plan


With this strategy, you may effectively save money while simultaneously being covered by a life insurance policy. If you live to the end of the policy term, you will get a guaranteed lump sum payout; otherwise, your family will be compensated for your death.


1. Features of LIC Bima Jyoti Plan


.You have the freedom to select the insurance term and the sum insured.
.At the conclusion of each policy year, the sum promised will be guaranteed additions under the policy.
.Instead of getting the death and maturity reward all at once, you can choose to get it in instalments.
.According to your convenience, premium payments can be made monthly, quarterly, half-yearly, or annually.

Death Benefit

In addition to the guaranteed increases made to the policy up until the date of death, your family may also be entitled to the sum promised on death. Sum promised on death payable if any of the following conditions are met:
125 percent of the Basic Sum Assured


7 times the yearly premium


Maturity Benefit
If you survive the whole insurance period, you will get the basic sum assured and the promised enhancements.

LIC Jeevan Labh


Another programme that offers customers both enhanced future savings and insurance protection is this LIC plan. In the terrible case of the insured's passing, it offers the family financial protection. If the insured lives the tenure, they receive the maturity benefit at the end along with a basic reversionary bonus and a last supplementary bonus.


Features of LIC Jeevan Labh


The Jeevan Labh LIC Plan gives customers the option to select a 16, 21, or 25-year insurance term.
It includes bonuses that LIC declares depending on its annual revenues.
For a little time, you can pay premiums and continue to receive coverage.
If the amount promised is greater than Rs. 5 lakhs, it gives savings on premiums.

Death Benefit


The death benefit is paid by the insurer to the policy's beneficiary in the event that the insured passes away within the term of the policy. The definition of the death benefit is:
7 times the revenue, annually; or


Basic amount ensured


LIC Jeevan Umang


LIC Jeeva Umang, one of the top LIC plans, provides whole-life insurance coverage as well as the added advantage of income and protection for the family. The plan provides the insured with yearly survival benefits from the end of the premium-paying period until the policy's maturity. Additionally, a death benefit is given to the policy's nominee in the event that the insured passes away during the policy term, or a lump sum payment is made to the insured at the time the policy matures as a maturation benefit. Let's examine the characteristics and advantages that the policy offers.


Features of LIC Jeevan Umang


A death benefit can be obtained under the plan with the option of monthly payments.
To extend the policy's coverage, many rider options are available.
The plan gives participants the choice of paying the policy's premium via regular premium payments or wage deductions throughout the PPT of the policy.


The Income Tax Act's Sections 80C and 10(10D) allow for the use of tax advantages.
offers discounts on premiums in exchange for a bigger sum guaranteed.

Death Benefit


The death benefit is paid to the designated beneficiary of the policy in the event that the life insured passes away while the policy is in effect.


On passing away before the start of risk


The refund of premium is given to the insurance beneficiary without interest in the event that the insured passes away prior to the start of the risk.


Upon death following the start of risk


The death benefit is the sum promised on death plus any vested reversionary bonuses in the event that the insured passes away after the start of the risk, and the last extra bonus (if any) is given to the policy beneficiary. The definition of the death benefit is:


7 times the yearly premium, whichever is higher.


105% of the premiums that have been paid thus far.

LIC Bima Ratna


LIC Bima Ratna, one of the greatest LIC policies, offers rewards at regular intervals to assist policyholders in reaching significant life milestones in addition to covering their lives. The death benefit amount is paid to the family in the event of an unfortunate event. In addition to receiving a maturity benefit amount if the policyholder survives the whole term, they may also receive several survival benefits at various policy years.

LIC New Money Back Plan - 25 Years


This individual life insurance plan with a restricted premium payment gives both insurance coverage and monthly payments upon surviving certain time periods throughout the policy tenure. This combined benefit offers a lump sum payment at maturity if the insured lives out the whole term and provides financial support for the family in the terrible event of the insured's passing.

Features of LIC New Money Back Plan - 25 Years


The 25-year New Money Back A settlement option for the maturity benefit is provided by the LIC plan. This implies that the insured has the option to collect the maturity benefit over the course of 5, 10, or 15 years.
The plan also gives beneficiaries the choice of receiving death benefits over time.
The policyholder is eligible to use the lending facility's benefits.
Rebates are available for larger amounts of the sum guaranteed.

Death Benefit


The death benefit will be paid by the insurer to the policy's beneficiary if the life guaranteed passes away tragically while the LIC policy is in effect. The "amount promised on death, together with a vested simple reversionary bonus and final supplementary bonus (if any). According to this definition, the sum insured upon death is equal to the greater of: 125% of the basic sum assured or seven times the yearly premium.
The death benefit cannot be less than 105% of the premiums that have already been paid.

LIC New Jeevan Anand


In the tragic event of the insured person's passing, LIC New Jeevan Anand offers financial protection to the insured's family. In addition, LIC New Jeevan Anand offers a maturity bonus to the insured if they live out the policy's whole term. Through its borrowing facility, the plan also meets the family's liquidity requirements.

Features of LIC New Jeevan Anand


The death benefit might be received in payments under the plan.
The plan gives participants the choice of paying the policy's premium via regular premium payments or wage

deductions throughout the PPT of the policy.


For bigger sums assured, the plan gives refunds as an advantage.
The Income Tax Act's Sections 80C and 10(10D) allow for the use of tax advantages.
If the policy's premiums have been properly paid for two full years, the insurance may be relinquished at any time.

Death Benefit


Death benefit will be paid as the "amount promised on death together with a vested simple reversionary bonus and final extra bonus" if the life assured passes away untimely within the term of the LIC policy (if any). The

definition of the death benefit is:


whichever is greater: 125% of the basic sum promised
seven times the yearlyized premium


The death benefit cannot be less than 105% of the premiums that have already been paid.
Beneficiaries get the basic sum guaranteed amount in the event of the insured's death after the policy tenure has expired, or after the date of maturity.

























































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