"Spending a whole day looking for insurance is fun," said nobody, EVER!
  • Best LIC Plans in India – An Overview

     4.5 / 5.0   by 689 users
    Used this product? Write a review >>

    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Overview

    Life is a precious gift which needs to be cherished and protected. In this world of mortals, death is inevitable, but there are ways to soften this blow, ensuring that the life of our loved ones is not affected if something happens to us. Life insurance is perhaps the best way to protect not only yourself, but also your near and dear, and life insurance in India is often synonymous with LIC. The largest insurance provider in the country, LIC offers a range of schemes to meet your requirement, with each plan catering to different needs. Choosing the right policy can be hard, but it is crucial that one spends some time to figure out what is needed, ensuring that he/she can lead a peaceful life.

    Comparison of Top 5 LIC Plans in India

     

    LIC Jeevan Anand

    LIC E-term Plan

    Jeevan Ankur

    New Endowment Plan

    New Bima Bachat

    Type of plan

    Endowment + Whole life

    Online term assurance

    Conventional with added profits

    Participating non-linked plan

    Participating non-linked savings plus protection

    Maturity benefit

    Yes

    No

    Yes

    Yes

    Yes

    IT Benefits

    Yes

    Yes

    Yes

    Yes

    Yes

    Death benefit

    Sum assured + bonuses

    Sum assured

    Sum assured + income benefit

    Sum assured + bonuses

    Sum assured + loyalty addition

    Entry Age

    Min – 18 years

    Max – 65 years

    Min – 18 years

    Max – 60 years

    For life assured: Min -18 years

    Max -50 years

    For child:

    Min – 0 years

    Max – 17 years

    Min – 8 years

    Max – 55 years

    Min – 15 years

    Max -66 years for 9 year term,

    63 years for 12 year term and 60 years for 15 year term

    Top plans offered by LIC

    LIC has life insurance plans under multiple headings, ranging from endowment plans to money back and term assurance plans. Each plan is unique and caters to different individuals, making it a hard task to choose the perfect plan for you. Listed below are 5 of the top LIC plans for investment in the country.

    1. LIC Jeevan Anand:

      A combination of whole life plans and endowment assurance, LIC’s Jeevan Anand offers financial protection against death. Multiple premium options and bonuses make it ideal for those looking to get the best out of their money, both in life and after death.

      Features and benefits

      This plan offers a range of benefits to policyholders, a few of which are highlighted below.

      • Flexibility – Flexible premium payment options and ability to increase cover.
      • Maturity benefit – An individual is entitled to assured returns under this plan.
      • IT benefits – IT benefits are applicable under the IT law.
      • Surrender value – There is a guaranteed surrender value under this plan.
    2. LIC E-term Plan:

      This is an online term assurance plan designed to provide financial security to the family of an insured individual in the event of his/her demise. Keeping modern advances in mind, this plan can be availed only online, eliminating all intermediaries.

      Features and benefits

      Some of the main features and benefits of this plan are highlighted below.

      • Special premiums – Individuals maintaining a healthy lifestyle (non-smokers) are eligible for better premium rates.
      • Term – Individuals can opt for policy terms which best suit their needs, with terms ranging from 10 years to 35 years available.
      • Sum assured – The minimum sum assured ranges between Rs 25 lakh and 50 lakh, depending on multiple criteria.
      • Online purchase – This feature makes it fast and easy to purchase this policy.
    3. Jeevan Ankur:

      The life of a parent often goes towards providing for his/her children and Jeevan Ankur is a plan designed to offer financial resources to meet any expense associated with your kids. A conventional plan with added profits, this is ideal for parents of children up to the age of 17 years.

      Features and benefits

      Some of the major features and benefits of this plan are mentioned below.

      • Maturity benefit – An assured maturity benefit is provided on completion of this policy.
      • Additional cover – Individuals can choose to enhance the protection by adding riders.
      • Death benefit – A death benefit equivalent to the sum assured plus an income benefit will be paid.
      • Premium payment – Premiums can be paid either annually, half-yearly, quarterly or monthly.
    4. New Endowment Plan:

      Finding a plan which serves dual purposes is hard, which makes LIC’s New Endowment Plan unique. This participating non-linked plan does the job of a savings and protection plan, making it ideal for the hard working individual.

      Features and benefits

      Some of the major features and benefits of this plan are mentioned below.

      • Maturity benefit – A maturity benefit comprising the basic sum assured and bonuses (if any) will be paid on maturity.
      • Profit sharing – Policyholders are entitled to share the profits earned by LIC.
      • Death benefit – A death benefit equivalent to the sum assured and bonuses will be paid.
      • Loan – Policyholders can avail a loan against this policy.
    5. New Bima Bachat:

      This participating non-linked plan offers dual benefits of savings and protection, with a unique money back option which ensures that finances don’t wreak havoc in the life of your loved ones.

      Features and benefits

      Some of the major features and benefits of this plan are mentioned below.

      • Maturity benefit – A maturity benefit which includes the premium and loyalty addition will be paid.
      • Single premium – Only one premium should be paid under this plan.
      • Loan – A loan can be availed against this policy, allowing room for liquidity.
      • Death benefit – A death benefit equivalent to the sum assured and the loyalty addition will be paid.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Best LIC Policy Reviews

  • Page 1 of 35 1 2 3 4 5
    • LIC Life Insurance
      "Recommendable Insurance company"
      0.5 5.0/5 "Blown Away!"
      In front of LIC no other insurance company can survey, the infra structure is wide they are best in the market. In shublabh plan, I should pay the premium for 10 years after 15 years get the money, life cover age is there and they give additional five years cover.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 12, 2018
    • LIC Life Insurance
      "Trusted Insurance Company"
      0.5 4.0/5 "Great!"
      Its old insurance company, we have confidence on them, the benefits aren't great. But every body have one policy, even my parents having a policy with them. Whenever I make the premium through online, I get immediate update. Lic is best for life insurance not for the investment.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I took this Life insurance Jeevan policy from Lic insurance corporation of India mainly because of the good returns, it has 20 year tenure process for policy coverage of 60 years , the payment am doing through on-line every half yearly . The best about the policy is it covers accidental coverage and critical illness. Their customer service and customer response is good .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 03, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I took this Life insurance from Lic insurance corporation of India mainly because of the good returns, it has 15 year tenure process for policy coverage of 50 years , the payment am doing through on-line every half yearly . The best about the policy is it covers accidental coverage and critical illness. Their customer service and customer response is good .
      Was this review helpful? 0
      , bhilwara
      Reviewed on Jul 03, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I took this Money back policy from Lic insurance company mainly because of the good returns, its long tenure process of 20 years , the Am making the payments monthly which it get auto debited . The best about the policy is claim rate is high compared to other policy available in the market. Their customer service and customer response is good .
      Was this review helpful? 0
      , yamuna nagar
      Reviewed on Jun 04, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I took this Life insurance Jeevan policy from Lic insurance corporation of India mainly because of the good returns, it has 10 year tenure process for policy coverage of 60 years , the payment am doing through on-line monthly . The best about the policy is it covers accidental coverage and critical illness There customer service and customer response is good .
      Was this review helpful? 0
      , yamuna nagar
      Reviewed on Jun 04, 2018
    • LIC Life Insurance
      "Average policy"
      0.5 4.0/5 "Great!"
      I took Life insurance policy from Lic insurance company 3 years before mainly because of the good returns, its long tenure process , the payment am doing through online monthly .The best about the policy is claim rate is high compared to other policy available in the market. Their customer service and customer response is good .
      Was this review helpful? 0
      , mumbai
      Reviewed on May 18, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I took a policy from LIC insurance company mainly because of the good returns also it has got long tenure process. I am making the payment through cheque quarterly . The best about the policy is claim rate is high compared to other policy available in the market. Their customer service and customer response is also good .
      Was this review helpful? 0
      , secunderabad
      Reviewed on May 13, 2018
    • LIC Life Insurance
      "GOOD POLICY"
      0.5 5.0/5 "Blown Away!"
      I took this policy from Lic insurance company mainly because of the good returns, its long tenure process , the payment can be done through only payments annually . The best about the policy is claim rate is high compared to other policy available in the market.
      Was this review helpful? 0
      , chennai
      Reviewed on May 11, 2018
    • LIC Life Insurance
      "Best Money Back Policy"
      0.5 5.0/5 "Blown Away!"
      My friend suggested me to take this money back policy. I'm paying Rs.8000 per quarter for 5 lakhs. I took the policy 15 years before. Every 5 years i will be receiving 1 lakh/ every 5 years. After 20 years they will give rest of the amount. This is the best money back policy ever.
      Was this review helpful? 0
      , chennai
      Reviewed on May 07, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 4.0/5 "Great!"
      Jeevan policy is the best in LIC, I would say because the tenure period of this LIC is 20 years. It is having good and fast claim process. Till now not faced any issue. I make payments through monthly ECS. Low amount had to pay every month as a premium in this policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 04, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      LIC is one of the best insurance policy, i have this policy from last 8-9 years and it is a long term policy. I pay my premium once in 6 months through net banking and i am convenient with the payment options. The maturity period of this policy is 20 years and i am happy with the returns of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      LIC policy is one of the best life insurance policy to use, i am using LIC from last 4 years and it is a long term policy. I pay my premium every month through ECS and the payment options are convenient for me. The tenure period of this life insurance policy is 20 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 16, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding the Life Insurance policy with LIC for last 15 years.The premium amount is 22,000 paid directly by cash at the branch.I get a policy coverage amount is 20 lakhs.The plan name is Jeevan anand,i would say its best policy compared to others insurance company.The policy is for 25 years.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 14, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding the Life Insurance policy with LIC for last five years.The premium amount is one lakhs paid directly by cash at the branch.I get a policy coverage amount is 25 lakhs.The plan name is Jeevan anand,i would say its best policy compared to others insurance company. The policy is for 15 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 10, 2018
    • LIC Life Insurance
      "Best INSURANCE CORP."
      0.5 5.0/5 "Blown Away!"
      LIFE INSURANCE CORPORATION( LIC ) IS A FINANCIAL INSTITUTION THROUGH WHICH I ENTER INTO THE WORLD OF INSURANCE. I THINK IT HAS THE BEST CORP. TO OPEN AN POLICY AND ALSO FOR OTHER FINANCIAL AND INVESTMENT PRODUCTS IT IS A EXCELLENT AND INEFFABLE.
      Was this review helpful? 0
      , ajmer
      Reviewed on Feb 21, 2018
    • LIC Life Insurance
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I am having the life insurance policy with the Life Insurance Corporation of India and the customer service is not really good one. I would like to say that the coverage value is not yet experienced. Everything is best one with the LIC of India.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 15, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken my life insurance policy with LIC. I am using this service for 10 years. It is a Jeevan Anand policy, the tenure period is 20 years. The customer service is very good. The policy coverage and benefits are best. I used to pay the premium of Rs.5000 monthly.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 14, 2018
    • LIC Life Insurance
      "An affordable insurance policy"
      0.5 5.0/5 "Blown Away!"
      I had an life insurance from an insurer LIFE INSURANCE CORPORATION OF INDIA. It is one of the best product from Public insurers. I will get my policy premium summary statement regularly by registered post. I will get the proper support from LIC agent also.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 12, 2018
    • LIC Life Insurance
      "A great policy"
      0.5 5.0/5 "Blown Away!"
      I had a life insurance from LIFE INSURANCE CORPORATION OF INDIA. I can say it is one of the best life insurer in India by comparing with Private sector and Public sector Insurers. The Premium is also affordable . I will get some bonus settlements also.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Feb 09, 2018
    Common Loader Icon
    Page 1 of 35 1 2 3 4 5

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.