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

Minimum Maximum
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

Key Features

  • 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 AboutLIC 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

Eligibility criteria Minimum Maximum
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

Key Features

  • 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

Parameters Minimum Maximum
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

 Key Features

  • 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.

Key Features

  • 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.

 

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