LIC

List of Various LIC Policies available online in India

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LIC plans in India

Life Insurance Corporation of India (LIC) offers various life insurance plans in India, some of the popular plans:

A. LIC Jeevan Anand:

LIC Jeevan Anand is a non-linked, participating, endowment plan offered by Life Insurance Corporation of India (LIC). It’s a popular life insurance plan that offers both protection and savings.

Under this plan, the policyholder is entitled to receive a lump sum amount (sum assured) on the death of the life assured during the policy term, as well as on survival till the end of the policy term. In addition, the policy also provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder, whichever is earlier.

The key features of LIC Jeevan Anand:

  1. It provides life cover and savings benefits.
  2. The policy term can range from 15 years to 35 years.
  3. Premiums can be paid regularly throughout the policy term or for a limited period.
  4. The policyholder can choose the sum assured amount at the time of purchasing the policy.
  5. The policy provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder.
  6. The policy can be surrendered after a certain period, and the policyholder entitled to receive a surrender value.
  7. The policyholder can also avail of a loan against the policy after a certain period.
  8. LIC Jeevan Anand is a flexible plan that offers both protection and savings benefits, making it a popular choice for many policyholders.

B. LIC New Endowment Plan:

LIC New Endowment Plan is a participating, non-linked endowment plan offered by Life Insurance Corporation of India (LIC). It’s a savings-oriented insurance plan that provides both protection and savings benefits.

Under this plan, the policyholder is entitled to receive a lump sum amount (sum assured) on the death of the life assured during the policy term, as well as on survival till the end of the policy term. In addition, the policy also provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder, whichever is earlier.

The key features of the LIC New Endowment Plan:

  1. It provides life cover and savings benefits.
  2. The policy term can range from 12 years to 35 years.
  3. Premiums can be paid regularly throughout the policy term or for a limited period.
  4. The policyholder can choose the sum assured amount at the time of purchasing the policy.
  5. The policy provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder.
  6. The policy can be surrendered after a certain period, and the policyholder is entitled to receive a surrender value.
  7. The policyholder can also avail of a loan against the policy after a certain period.
  8. LIC New Endowment Plan is a flexible plan that provides both protection and savings benefits, making it a popular choice for many policyholders.

C. LIC Jeevan Labh:

LIC Jeevan Labh is a non-linked, participating, limited premium payment endowment plan offered by the Life Insurance Corporation of India (LIC). It’s a savings-oriented insurance plan that provides both protection and savings benefits.

Under this plan, the policyholder is entitled to receive a lump sum amount (sum assured) on the death of the life assured during the policy term, as well as on survival till the end of the policy term. In addition, the policy also provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder, whichever is earlier.

The key features of LIC Jeevan Labh:

  1. It provides life cover and savings benefits.
  2. The policy term can range from 16 years to 25 years.
  3. Premiums can be paid for a limited period of 10, 15, or 16 years.
  4. The policyholder can choose the sum assured amount at the time of purchasing the policy.
  5. The policy provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder.
  6. The policy can be surrendered after a certain period, and the policyholder is entitled to receive a surrender value.
  7. The policyholder can also avail of a loan against the policy after a certain period.
  8. It’s a flexible plan that provides both protection and savings benefits, making it a popular choice for many policyholders. The limited premium payment term and the option to choose the policy term make it a convenient plan for those looking to save for their future financial goals.

D. LIC Jeevan Umang:

LIC Jeevan Umang is a non-linked, with-profits, whole life assurance plan offered by the Life Insurance Corporation of India (LIC). It is a traditional insurance plan that provides both protection and regular income benefits.

Under this plan, the policyholder is entitled to receive a lump sum amount (sum assured) on the death of the life assured during the policy term, as well as a regular income (annual survival benefit) for the entire lifetime of the policyholder, starting from the end of the premium payment term. In addition, the policy also provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder, whichever is earlier.

The key features of LIC Jeevan Umang:

  1. It provides life cover and regular income benefits.
  2. The policy term is the entire lifetime of the policyholder.
  3. Premiums can be paid for a limited period of 15, 20, 25, or 30 years.
  4. The policyholder can choose the sum assured amount at the time of purchasing the policy.
  5. The policy provides bonuses declared by LIC, which are added to the sum assured and paid out at the end of the policy term or on the death of the policyholder.
  6. The policy can be surrendered after a certain period, and the policyholder is entitled to receive a surrender value.
  7. The policyholder can also avail of a loan against the policy after a certain period.
  8. LIC Jeevan Umang is a unique plan that provides both protection and regular income benefits throughout the policyholder’s lifetime. The limited premium payment term and the option to choose the sum assured amount make it a convenient plan for those looking to save for their future financial goals while ensuring long-term financial security.

E. LIC Tech Term:

LIC Tech Term is a non-linked, pure-term insurance plan offered by the Life Insurance Corporation of India (LIC). It is a digital policy that provides high life cover at an affordable premium.

Under this plan, the policyholder is entitled to receive a lump sum amount (sum assured) on the death of the life assured during the policy term. The plan also offers an option for the policyholder to receive the sum assured in instalments over a period of 5 or 10 years, instead of a lump sum amount.

The key features of LIC Tech Term:

  1. It provides pure life cover with no maturity or survival benefits.
  2. The policy term can range from 10 years to 40 years.
  3. The policyholder can choose the sum assured amount at the time of purchasing the policy.
  4. The plan offers an option for the policyholder to receive the sum assured in instalments over a period of 5 or 10 years, instead of a lump sum amount.
  5. The premium for the policy can be paid on an annual, semi-annual, quarterly, or monthly basis.
  6. The policy can be surrendered after a certain period, and the policyholder is entitled to receive a surrender value.
  7. The policy also offers a discount on premium rates for non-smokers.
  8. LIC Tech Term is a simple and affordable term insurance plan that provides high life cover at an affordable premium. It’s ideal for individuals who are looking for comprehensive life insurance coverage to protect their family’s financial future in case of an unfortunate event.

F. LIC Jeevan Amar:

LIC Jeevan Amar is a non-linked, non-participating, pure protection term insurance plan offered by Life Insurance Corporation of India (LIC). It’s a comprehensive plan that provides high life cover at an affordable premium.

Under this plan, the policyholder is entitled to receive a lump sum amount (sum assured) on the death of the life assured during the policy term. The plan also offers an option for the policyholder to receive the sum assured in instalments over a period of 5 or 10 years, instead of a lump sum amount.

The key features of LIC Jeevan Amar:

  1. It provides pure life cover with no maturity or survival benefits.
  2. The policy term can range from 10 years to 40 years.
  3. The policyholder can choose the sum assured amount at the time of purchasing the policy.
  4. The plan offers an option for the policyholder to receive the sum assured in instalments over a period of 5 or 10 years, instead of a lump sum amount.
  5. The premium for the policy can be paid on an annual, semi-annual, quarterly, or monthly basis.
  6. The policy can be surrendered after a certain period, and the policyholder is entitled to receive a surrender value.
  7. The policy also offers a discount on premium rates for non-smokers.
  8. LIC Jeevan Amar is a comprehensive term insurance plan that provides high life cover at an affordable premium. It is ideal for individuals who are looking for a simple and cost-effective life insurance cover to protect their family’s financial future in case of an unfortunate event.

G. LIC Child Future Plan:

LIC Child Future Plan is a participating, non-linked, life insurance plan offered by Life Insurance Corporation of India (LIC). It is a savings plan that is designed to secure the future of a child by providing financial support for their education, marriage, or other important milestones.

Under this plan, the policyholder is entitled to receive a lump sum amount (sum assured) on the death of the life assured during the policy term. In addition, the plan also provides guaranteed additions at a specified rate of the sum assured during the policy term. At maturity, the policyholder is entitled to receive the sum assured along with any accumulated bonuses and terminal bonuses.

The key features of LIC Child Future Plan:

  1. It’s a participating, non-linked, life insurance plan that offers life cover and savings benefits.
  2. The policy term can range from 18 years to 25 years.
  3. The plan offers the option to choose the premium payment term as well as the premium payment frequency.
  4. The policyholder can choose the sum assured amount at the time of purchasing the policy.
  5. The plan provides guaranteed additions at a specified rate of the sum assured during the policy term.
  6. The plan also provides bonuses and terminal bonuses at maturity.
  7. The policy also offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
  8. LIC Child Future Plan is a comprehensive plan that provides financial security for the future of a child. It’s ideal for parents who want to secure the future of their child by providing financial support for their education, marriage, or other important milestones.

H. LIC Money Back Plans:

LIC Money Back Plans are participating, non-linked, traditional life insurance plans offered by Life Insurance Corporation of India (LIC). These plans are designed to provide periodic payments to the policyholder during the policy term, as well as life cover to protect the financial future of the policyholder’s family.

Under these plans, the policyholder is entitled to receive a percentage of the sum assured as a survival benefit at specific intervals during the policy term. In addition, the policy also provides a lump sum amount (sum assured) on the death of the life assured during the policy term. At maturity, the policyholder is entitled to receive the balance of the sum assured along with any accumulated bonuses and terminal bonuses.

The key features of LIC Money Back Plans:

  1. These are participating, non-linked, traditional life insurance plans that offer both savings and life cover benefits.
  2. The policy term can range from 15 years to 25 years.
  3. The plan offers the option to choose the premium payment term as well as the premium payment frequency.
  4. The policyholder is entitled to receive a percentage of the sum assured as a survival benefit at specific intervals during the policy term.
  5. The plan also provides a lump sum amount (sum assured) on the death of the life assured during the policy term.
  6. The policy also offers bonuses and terminal bonuses at maturity.
  7. The policy also offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
  8. LIC Money Back Plans are ideal for individuals who want to ensure regular cash inflow to meet their financial goals while also providing life cover to their families. These plans provide a combination of regular payouts and lump sum payouts, making them a good option for individuals who require liquidity at specific intervals during the policy term.
  9. These are some of the popular LIC plans in India, and there are many other plans available to meet the diverse needs of customers.

LIC policy term details:

  • The policy term for LIC plans in India can vary depending on the specific plan and the policyholder’s age at the time of purchasing the policy. Here are some general details:
  • For term insurance plans like LIC Tech Term and LIC Jeevan Amar, the policy term can range from 5 years to 40 years, depending on the age of the policyholder.
  • For endowment plans like LIC New Endowment Plan, LIC Jeevan Anand, and LIC Jeevan Labh, the policy term can range from 10 years to 35 years, depending on the policyholder’s age.
  • Policy for whole-life plans like LIC Jeevan Umang, the policy term is for the entire life of the policyholder, and the policy provides life cover and regular income payouts to the policyholder for their lifetime.
  • For money-back plans, the policy term can range from 10 years to 25 years, and the plan offers periodic payouts during the policy term, along with life cover.
  • It’s important to note that the premium amount and other terms and conditions may vary depending on the specific LIC plan chosen by the policyholder. It’s recommended to carefully read the policy document and consult with a LIC agent or representative for more detailed information on the policy term and other plan details.
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