Best LIC Policies In 2017 | Highest Return LIC Policies To Invest In 2017
Best LIC Policies
LIC is the most trusted brand which introduced the life insurance first time in India. It provides numerous products for the convenience of customers. It is archetypal to choose most suitable plan, so we have listed the Best LIC Policies In 2017 in this article. A Smart customer always invests in such a policy which provides high interest rate and monetary gains.
You can consider that life insurance is a type of bond between the insurance company and the policyholder. In this bond insurer needs to pay a specific amount in terms of small premiums and insurance company pay a defined amount to the beneficiary in returns of premium if the insurer dies. In case of any misfortune or terminal illness, also a definite coverage is provided which depends on contract.
Best LIC Policies In 2017
- LIC Jeevan Akshay VI
- LIC e-Term Plan
- LIC New Children’s Money Back Plan
- LIC Jeevan Sangam
- LIC Jeevan Saral
LIC Jeevan Akshay VI
If you are looking for Annuity plan then we have best option for you i.e. LIC Jeevan Akshay VI. This is launched by most trustable LIC Company Life Insurance Corporation of India. Users can purchase this plan by paying little lump sum amount. This policy is single premium policy; you can choose any paying option like as monthly, quarterly, biannually or annually etc. if a customer selects the any above option then it can’t be change so choose your option carefully. Customer needs to pay single premium to acquire an Annuity then LIC will pay rest of his life. Customer has 7 options to choose his type and amount of annuity.
LIC Jeevan Akshay VI Important Facts
|Entry Age (Last Birthday)||30 years||85 years|
|Purchase Price||100,000 or 150,000 for online mode||No limit|
|Yearly Annuity Payout||Depends on the Purchase Price and entry age|
|Annuity payout Frequency||Monthly, quarterly, half-yearly, yearly|
- Annuity option is selected by policy holder.
- In joint case account both policyholder as well as spouse select annuity option.
- Life Annuity at a uniform rate is available here.
- The annuity increases on easy interest rate of 3 percent annually.
- Lifetime Annuity on buy cost’s return is also provided.
- Annuity for life with 50% annuity to spouse after the annuitant’s death
- Annuity for life with 100% annuity to spouse after the annuitant’s death.
Benefits Of LIC Jeevan Akshay VI
- Death benefit will be provided to death beneficiary as per terms of plan.
- It doesn’t possess any maturity benefit.
- Under the section of 80C you can obtain tax benefit.
- There are 6 options available of this plan.
Know About – LIC New Plans
LIC E-Term Plan
You can acquire security through the LIC e-Term Plan, paying small cost. Under this plan, in case the insurer dies through the tenure of the plan, substantial benefits will be provided to beneficiary but if the insurer stay alive till the end of the tenure then in such a case he will receive the maturity value. The plan produces its services at affordable premiums and elevated coverage. Peoples prefer this plan because there is no maturity benefit. Users can provide the security of their family members and children against the any loss of income. It is not hard to keep so the average middle class person easily affords it.
Important Facts Of LIC E-Term Plan
|Minimum age||Maximum age|
|Entry Age||18 years||55 years|
|Maturity Age||–||65 years|
|Policy Term||5 years||25 years|
|Sum Assured||Rs.6 lakhs||Rs.24 lakhs|
|Premium Payment Term||Equal to the policy term|
|Premium Payment Frequency||Yearly or half-yearly|
Features & Benefits Of LIC Term Plans
- It is oldest and most trusty insurance plan among Indian people.
- It provides Flexible options to cover amount and premium payment.
- Users can also choose their plans via online.
- You can also tax benefit under the IT Act.
- Some plans may be alter in other plans.
- There will be no refund in this plan.
Check Now – How To Surrender LIC Policy Before Maturity
LIC New Children’s Money Back Plan
LIC New Children’s Money Back Plan has been launched by Life Insurance Corporation of India 4th March, 2015. This plan is especially designed to meet all financial requirements of children. It is regular premium policy, provides numerous benefits. This plan produces survival benefits on surviving to the end of the specified durations. You need Unique Identification Number for LIC New Children Money Back Policy. This number may be quoted among all vital documents.
Important Facts Of LIC New Children’s Money Back Plan
|Entry Age||0 Years (LBD)||12 Years|
|Sum Assured||Rs 100/-.||No Limit|
|Policy Term||25 years – (Age at Entry)|
|Maturity Age||25 Years||25 Years|
|Premium Payment Mode||Yearly, Half Yearly, Quarterly, and Monthly|
- This plan offers reliable limited payment options.
- Under section 80C, tax benefits are available.
- Under this plan minimum assured limit is Rs. 100,000.
- You can also obtain loan facility after paying premiums for the first three years.
- When child become 25 years, the child would be liable for receiving the benefits.
- If the insurer dies after the commencement of risk, beneficiary will obtain benefits of Sum Assured on death + Final Additional Bonus + Accrued Bonuses.
Read Also – Best Health Insurance Plans In India
LIC Jeevan Sangam
LIC Jeevan Sangam plan provides guaranteed returns and many benefits which participate in this policy. This plan was launched in 4th March, 2015. It is single premium policy which is not linked policy and offers excellent return on survival as maturity. The fixed term of this policy is 12 year which can be intended for financial requirement of future.
Important Facts Of LIC Jeevan Sangam
|Sum assured||Rs 75,000||No limit|
|Entry age||6 years||50 years|
|Policy term||12 years||12 years|
|Premium payment term||Single|
|Payment mode||Monthly, Quarterly, Semi-annually, Annually|
- In case of death this plan offers High Risk Cover.
- Here is Option to select Maturity Sum Assured (MSA).
- It produces Guaranteed Return (MSA) + Loyalty adding up on maturity.
- One more specific option is present i.e. any time surrender option.
- Under section 80C, Premium paid is entitled.
- Under 80C, maturity amount will be tax free.
Read Also – How To Get Low Income Health Insurance Plans
LIC Jeevan Saral
LIC Jeevan Saral was launched in 2004 by Life Insurance Corporation of India to fulfill the requirements of his customers. It produces not only choices of the premium amount but also numerous payment modes. When policyholder dies, the family is eligible to obtain the death benefits as per terms and conditions of policies. This plan possesses excellent return, higher death cover, liquidity and lots of flexibility. It is such a plan where the issuer can decide amount of premium that he wants to pay as premiums.
- LIC provides benefits to the family of insurer when he is no longer with them.
- It produces insurance cover against any misfortune all over the life.
- A lump sum amount is paid to the beneficiary, as per policy term
- Guaranteed Surrender Value is always less than Special Surrender Value.
- Insurer can only surrender his policy after he has completed at least 3 years.
- Premium return on policy maturity includes the Sum Assured and Loyalty additions
|Entry Age (as on last birthday)||35|
|Maturity Age (as on last birthday)||60|
|Policy Term (in years)||25|
|Amount of Premium (in Rs.)||4704/-|
|Premium Paying Frequency||Annually|
LIC was recognized in 1956 that demonstrated it is oldest and most trusted brand in India. There are 28 insurance companies are present in Indian market. The association has vast coverage area; around 250 million people are associated with it. The organization offers various types of term plans, Child Plans, traditional saving plans, ULIPs and pension plans etc. you can easily trust on this brand as it is completely safe and secure.