LIC Plans with Highest Return

LIC offers a wide range of life insurance policies designed to provide higher returns. The following plans by LIC provide you with the maximum benefits - Jeevan Amar, New Children’s Money Back Plan, New Endowment Plan, New Money Back Plan- 20 years, and New Jeevan Anand Plan.
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LIC, the state-owned insurance company was founded in the year 1956 with an aim to strengthen the life insurance segment of India. It caters to the requirements of a wide customer base with products ranging from insurance and unit plans to micro insurance plans. LIC operates with 2048 fully computerized branch offices, 113 divisional offices, and joins all these establishments through a Metro Area Network. LIC has an average claim settlement ratio of 98.2%, which makes it one of the most trusted insurers in the country. 

Customers these days go after plans that offer higher returns on the premiums paid. LIC offers a comprehensive list of plans that are designed to offer optimum benefits alongside protection. Given below are the four best insurance policies of: 

 LIC’s Jeevan Amar: 

The LIC Jeevan Amar plan is a Non-Linked, Non-Participating, Offline Term Assurance Plan which is designed to provide the family of the beneficiary with financial support in the case of his or her death during the period of the policy. 

Features of LIC’s Jeevan Amar: 

  • The LIC Jeevan Amar plan comes with 2 benefit options: Increasing Sum Assured and Level Sum Assured 
  • It is flexible plan which offers the insured to choose from Single Premium Payment, Limited Premium Payment, and Regular Premium Payment. 
  • It allows the insured to choose the term of the policy. 
  • The insured can opt for the payment of the benefits in instalments. 
  • The LIC Jeevan Amar plan offers special rates for women. 
  • The LIC Jeevan Amar plan offers benefits of attractive High Sum Assured Rebate. 
  • It offers a host of rider plans to enhance the coverage provided by the plan. 

Eligibility Criteria for LIC Jeevan Amar 

Minimum age of the applicant at entry  18 years 
Maximum age of the applicant at entry  65 years 
Maximum age of the insured at maturity  80 years 
Min. Basic Assured Sum*  Rs.25 lakh 
Max. Basic Assured Sum*  No Limit 
Term of the Policy  10 years to 40 years 
Premium Paying Term: 
  • Single Premium Payment 
N/A 
  • Regular Premium Payment 
In accordance to the term of the policy 
  • Limited Premium Payment 
  • (Policy Term – 5) years for 10 to 40 years 
  • (Policy Term – 10) years for 15 to 40 years 

*The Basic Assured Sum will be in multiples of Rs.1 lakh if the Basic Sum Assured is in the range of Rs.25 lakh to Rs.40 lakh. The Basic Assured Sum will be in multiples of Rs.10 lakh if the Basic Sum Assured exceeds the mark of Rs.40 lakh 

 LIC’s New Children’s Money Back Plan: 

It is a Non-Linked, Participating money back plan which is designed to meet the education demands, marriage expenses, and other such financial needs of growing children. Additionally, the plan offers risk cover on the life of the insured child throughout the policy term. Parents or grandparents of children (in the age group 0 to 12 years) can purchase the plan. 

Read on to find more about LIC New Children’s Money Back Plan 

Eligibility Criteria for LIC’s New Children’s Money Back Plan: 

Minimum basic sum assured  Rs.1 lakh 
Maximum basic sum assured  No limit 
Minimum age at entry  0 years 
Maximum age at entry  12 years 
Age at maturity  25 years 
Policy term  25 minus entry age 
Premium payment mode  Yearly, half-yearly, quarterly, monthly (Only ECS), or through SSS mode 
Grace period  1 month for yearly, half-yearly, and quarterly modes and 15 days for monthly mode 
Rebates 
  • 2% of tabular premium for yearly mode 
  • 1% of tabular premium for half-yearly mode 
  • Rs.2 per thousand for every basic sum assured between Rs.2 lakh to Rs.4.9 lakh 
  • Rs.3 per thousand for basic sum assured above Rs.5 lakh 
Policy revival  A lapsed policy can be revived within a period of 2 years from the date of first unpaid premium 
Optional benefits  LIC’s Accidental Death and Disability Benefit Rider 

Benefits under LIC’s New Children’s Money Back Plan: 

Death Benefits:

If the life insured expires before the commencement of risk cover, then a sum equal to the premiums paid which is inclusive of additional premiums and rider premiums shall be payable. But in case the person insured expires after commencement of the risk cover, then the sum assured on death along with simple reversionary bonuses and final additional bonuses shall be paid by LIC. The death benefit in the second case will not be less than 105% of the total premiums paid by the policyholder. 

Death Benefit: 

On the death of the life insured under the plan, the sum of the amount paid in terms of premium, rider premium, and extra premium will be paid if the death occurs before the date of risk commencement. If the death occurs after the date of risk commencement, the ‘Sum Assured on Death’ will be paid along with Final Additional Bonus and Simple Reversionary Bonuses (if payable). 

Survival Benefit: 

20% of the basic sum assured shall be payable on each occasion when the life insured completes 18, 20, and 22 years. 

Maturity Benefit: 

Maturity benefits shall include sum assured on maturity plus vested simple reversionary bonuses and final additional bonuses. 

Profit Participation: 

The policy shall participate in the profits of LIC and will accrue simple reversionary bonuses from time to time. 

Surrender Value: 

The policy can be surrendered after payment of premiums for three full years from the date of policy inception. The guaranteed surrender value will be calculated as a percentage of the total premiums paid, excluding additional premiums paid for riders. The percentage will also depend on the policy term and the year of surrender. 

Exclusions: 

If the person insured commits suicide within 12 months of the commencement of the plan, then LIC is not liable to pay any of the assured benefits. However, the nominees will be given a sum equal to 80% of the premiums paid. But in case policyholder commits suicide within 1 year from the date of policy revival, then the beneficiary will receive a sum higher than 80% of the premiums paid till death. 

LIC’s New Endowment Plan: 

It is a participating non-linked endowment plan that provides the prospective buyer an option to choose the sum assured and the premium payment mode. LIC’s New Endowment Plan offers financial protection throughout the policy term and comes with loyalty additions. The sum assured on death depends on the premiums paid and the maturity benefits are based on the policyholder’s age at entry. 

Eligibility Criteria for LIC’s New Endowment Plan: 

 
Minimum age at entry  8 years 
Maximum age at entry  55 years 
Minimum policy term  12 years 
Maximum policy term  35 years 
Maximum maturity age  75 years 
Minimum basic sum assured  Rs.1 lakh 
Maximum basic sum assured  No limit 
Minimum accident benefit sum assured  Rs.1 lakh 
Premium payment mode  Yearly, half-yearly, quarterly, and monthly 
Optional benefits  LIC’s Accidental Death and Disability Benefit Rider 

Benefits under LIC’s New Endowment Plan: 

Death benefit:

The sum assured on death along with simple reversionary bonuses and final additional bonuses shall be provided on death of the policyholder, provided all due premiums have been paid till date of death. The death benefit shall not be less than 105% of all the premiums paid. 

Maturity benefit:

Maturity benefits shall be payable as lump sum and it will include basic sum assured, simple reversionary bonuses, and final additional bonus. 

Profit participation:

The policy shall participate in the profits of LIC and will accrue simple reversionary bonuses from time to time. 

Surrender value: 

The policy can be surrendered any time after payment of 3 full years of premium. The guaranteed surrender value will be a percentage of the total premiums paid by the policyholder, excluding premiums paid for optional benefits. The surrender value will also depend on the policy term and the year of policy surrender. 

Loan: 

Depending on the terms and conditions applicable at the time of application, the policyholder can apply for loans once the policy has attained surrender value. 

Exclusion: 

If the policyholder commits suicide within 12 months of the commencement of the plan, then the corporation will not pay any of the assured benefits. However, the nominees will be given a sum equal to 80% of the premiums paid till death. But in case policyholder commits suicide within 1 year from the date of policy revival, then the beneficiary will receive a sum higher than 80% of the premiums paid till death. 

 LIC’s New Money Back Plan- 20 years: 

lic highest return plans
lic highest return plans

The New Money Back Plan- 20 years is a non-linked, participating, limited premium, life assurance plan which comes with a plethora of features. Apart from death benefits, the policy also provides returns at specified durations throughout the term. It protects the family of the insured on his/her death and at the same time offers a lump sum on survival. The plan also extends loan facility to take care of the immediate financial needs of the person insured. 

Eligibility Criteria for LIC’s New Money Back Plan- 20 year: 

Minimum basic sum assured  Rs.1 lakh 
Maximum basic sum assured  No limit 
Minimum age at entry  13 years 
Maximum age at entry  50 years 
Maximum age at maturity  70 years 
Policy term  20 years 
Premium payment term  15 years 
Premium payment modes  Yearly, half-yearly, quarterly, and monthly 
Grace period 
  • One month for yearly, half-yearly, and quarterly modes 
  • 15 days for monthly payment mode 
Optional benefits  LIC’s Accidental Death and Disability Benefit Rider 

Benefits under LIC’s New Money Back Plan- 20 year: 

Death benefits:

On death of the policyholder when the policy is in full force, the sum assured on death along with simple reversionary bonuses and final additional bonus shall be paid to the beneficiary. The sum assured on death will be higher than 125% of the basic sum assured or 10 times the annualized premium. Also, the death benefit paid shall not be less than 105% of the total premiums paid till death. 

Survival benefits: 

When the policyholder survives the term, he/she will be paid survival benefits equal to 20% of the basic sum assured at a five-year interval starting from 5th policy year onwards. 

Maturity benefits: 

On maturity of the policy, 40% of the basic sum assured along with simple reversionary bonuses and final additional bonus shall be paid. 

Policy Revival: 

The policy will lapse if premiums payments are discontinued even after the grace period. However, the lapsed policy can be revived within a period of 2 years from the date of first unpaid premium. The revival of riders simultaneously take place during revival of the basic policy. 

Surrender Value: 

If the policyholder has paid premiums for three continuous years, he/she shall be eligible to surrender the policy. The guaranteed surrender value is calculated as a percentage of the total premiums paid by the policyholder, excluding premiums paid for optional benefits. 

Exclusion: 

If the life assured commits suicide within 12 months of the commencement of the plan, then LIC will not consider any claim requests. However, the nominees will be provided a lump sum amount which will be equal to 80% of the total premiums paid. But in case policyholder commits suicide within 1 year from the date of policy revival, then the beneficiary will receive a sum higher than 80% of the premiums paid till death. 

LIC’s New Jeevan Anand Plan: 

The New Jeevan Anand policy by LIC is a non-linked, individual, participating, life assurance plan that provides the beneficiaries a combination of protection and savings. It does not only offer a financial support against the death of the holder of the policy, it also provides a lumpsum payment at the maturity of the policy in case of the survival of the policyholder. The beneficiaries can also avail loan facilities through this policy. 

Eligibility Criteria for LIC’s New Jeevan Anand Plan: 

 
Minimum age at entry  18 years 
Maximum age at entry  50 years 
Minimum policy term  15 years 
Maximum policy term  35 years 
Maximum maturity age  75 years 
Minimum basic sum assured  Rs.1 lakh 
Maximum basic sum assured  No limit 
Minimum accident benefit sum assured  Rs.1 lakh 
Premium payment mode  Yearly, half-yearly, quarterly, and monthly 
Optional benefits  LIC’s Accidental Death and Disability Benefit Rider 

Benefits under LIC’s New Jeevan Anand: 

Death benefits:

On death of the policyholder when the policy tenure is still on, the sum assured on death along with simple reversionary bonuses and final additional bonus shall be paid to the beneficiary. The sum assured on death will be higher than 125% of the basic sum assured or 10 times the annualized premium. Also, the death benefit paid shall not be less than 105% of the total premiums paid till death. In the case of death after the end of the policy period, the basic assured sum will be payable. 

Maturity benefits: 

The assured sum on maturity along with certain vested simple reversionary bonuses and final additional bonus (if payable) will be paid. 

Profit participation benefits: 

The proceeds of the policy will be participant in the profits of the LIC and will be entitled for the receipt of simple reversionary bonuses accordingly. These bonuses will be declared by the corporation as per its experience during the term while the it is in force. 

Exclusion: 

If the life assured commits suicide within 12 months of the commencement of the plan, then LIC will not consider any claim requests. However, the nominees will be provided a lump sum amount which will be equal to 80% of the total premiums paid. But in case policyholder commits suicide within 1 year from the date of policy revival, then the beneficiary will receive a sum higher than 80% of the premiums paid till death. 

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

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