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  • Best 5 LIC Plans to invest in 2017

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    When it comes to life insurance, LIC is the most preferred name among all other options available in the insurance market. The state-owned investment company is also the largest insurer in the world in terms of the number of policies sold. Life insurance corporation of india has its presence in every city of the country to ensure that the benefits of the product offerings reach every hand. If you are planning to buy life insurance in 2017, you can consider the following plans listed below.

    LIC Jeevan Pragati Plan:

    LIC Jeevan Pragati is a non-linked plan, which, apart from financial protection, comes with extended benefits and savings. The chief highlight of Jeevan Pragati Plan is that it increases the risk cover after every 5 years. The plan also takes care of your immediate needs by providing loan facility.

    Benefits of Jeevan Pragati Plan:

    • The death benefits offered under Jeevan Pragati shall not be less than 105% of all the premium amounts
    • If the policy is in force, death benefits will include sum assured on death plus vested simple reversionary bonuses and final additional bonuses
    • The premiums are exempt from taxes and no extra amount is chargeable under the policy for rider premium, if any
    • The sum assured on maturity equals to the basic sum assured together with vested simple reversionary bonuses and final additional bonuses
    • The policy will participate in the profits of the corporation and shall bonuses as declared by the LIC from time to time
    • The policyholder is also entitled to Accidental Death and Disability Benefit Rider

    Features of Jeevan Pragati Plan:

    Minimum Basic Sum Assured Rs.1,50,000
    Maximum Basic Sum Assured No limit
    Policy term 12 to 20 years
    Minimum age at entry 12 years
    Maximum age at entry 45 years
    Maximum age at maturity 65 years
    Premium payment mode Yearly, half-yearly, quarterly, and monthly
    Policy revival The policy will lapse If premiums are not paid within the grace period

    LIC Jeevan Labh:

    Jeevan Labh, a low premium endowment plan is a perfect combination of financial protection and savings. Under this plan, policyholders are eligible for a lump sum on maturity. But in case of their unfortunate death before maturity, family members will be paid death benefits along with bonuses and additions as mentioned in the plan.

    Benefits of Jeevan Labh:

    • Similar to Jeevan Pragati, death benefits offered under Jeevan Labh shall also be not less than 105% of all the total premium
    • Death benefit will include sum assured on death plus vested simple reversionary bonuses and final additional bonuses
    • The premiums are exempted from taxes and no additional charges are levied for benefit riders
    • The sum assured on maturity equals to the basic sum assured together with vested simple reversionary bonuses and final additional bonuses
    • The policy will participate in the profits of the corporation and shall receive bonuses as declared by the LIC from time to time
    • The policyholder is also entitled to Accidental Death and Disability Benefit Rider and LIC’s New Term Assurance Rider

    Features of Jeevan Labh:

    Minimum Basic Sum Assured Rs.2,00,000
    Maximum Basic Sum Assured No limit
    Policy term 61 years, 21 years, and 25 years
    Minimum age at entry 8 years
    Maximum age at entry 59 years
    Maximum age at maturity 75 years
    Premium payment mode Yearly, half-yearly, quarterly, and monthly (only through ECS)
    Policy revival The policy will lapse If premiums are not paid within the grace period

    LIC New Jeevan Anand:

    New Jeevan Anand is a participating endowment plan which comes with a plethora of benefits and offers. This savings plus protection plan provides a lump sum payout at the time of maturity. However, the plan is designed primarily to protect the family of the insured in case of his death. It also comes with loan facility to support the liquidity needs of the individual.

    Benefits of New Jeevan Anand:

    • When an individual dies during the term, death benefit received will include sum assured on death, vested simple reversionary bonuses, and final additional bonus
    • Sum assured on death is more than 125% of the basic sum or ten times the annualized premium amount
    • On survival of the policyholder, Basic Sum Assured along with vested simple reversionary bonuses and final additional bonus is paid as a lump sum
    • The policy shall participate in the profits of LIC and shall receive additional benefits from time to time
    • LIC’s accidental death benefit rider is available as an optional rider which can be availed by payment of a small additional amount along with the policy premium.

    Features of Jeevan Anand:

    Minimum Basic Sum Assured Rs.1,00,000
    Maximum Basic Sum Assured No limit (the basic sum assured will be in multiples of Rs.5000)
    Minimum policy term 15 years
    Maximum policy term 35 years
    Minimum age at entry 18 years
    Maximum age at entry 50 years
    Maximum age at maturity 75 years
    Premium payment mode Yearly, half-yearly, quarterly, and monthly (only through ECS)
    Policy revival The policy will lapse If premiums are not paid within the grace period. For all other terms except monthly premiums, the grace period is 30 days. For monthly premium it’s 15 days.

    LIC Jeevan Rakshak:

    It’s a participating endowment plan with provides an enhanced protection and savings at the same time. Policyholders are eligible for loyalty additions after completion of 5 term years. The addition of Accidental Death Benefit Rider makes Jeevan Rakshak a comprehensive life insurance solution.

    Benefits of Jeevan Rakshak:

    • During the term period, the policy will be eligible for Sum Assured at Death which is:
      • Higher than the basic sum assured, or
      • Is equal to 10 times the annualized premium, or
      • Is 105% of all premiums paid till death
    • On survival of the policyholder, Basic Sum Assured along with vested simple reversionary bonuses and final additional bonus is paid as a lump sum, provided all premiums have been paid by the policyholder
    • The policy will participate in the profits of LIC and shall receive additional benefits from time to time
    • LIC’s death and benefit rider is available as an optional rider which can be availed by payment of a small additional amount along with the policy premium. In case of accidental death of the individual, the Accident Benefit Sum Assured will be paid as lump sum amount along with the sum assured on death

    Features of Jeevan Rakshak:

    Minimum Basic Sum Assured Rs.75,000
    Maximum Basic Sum Assured Rs.2,00,000
    Minimum policy term 10 years
    Maximum policy term 20 years
    Minimum age at entry 8 years
    Maximum age at entry 55 years
    Maximum age at maturity 70 years
    Premium payment mode Yearly, half-yearly, quarterly, and monthly (only through ECS)
    Policy revival The policy will lapse If premiums are not paid within the grace period. However, the lapsed policy can be revived within 2 years

    LIC Jeevan Lakshya:

    It’s a traditional savings cum protection plan which provides annualized payments post death of the insured to take care of this family’s expenses. Additionally the beneficiaries of the deceased will also receive 110% of the cover amount at the end of the initial term period of the policy. The plan also allows one to choose two additional benefit riders namely Accidental Death & Disability Rider and New Term Assurance Rider.

    Benefits of Jeevan Lakshya:

    • In case of the individual’s death, the death benefit received will include sum assured on death, vested simple reversionary bonuses, and final additional bonus
    • Death benefits shall include
      • Annual income benefit which is equal to 10% of the basic sum assured
      • Assured absolute amount which equals 110% of the basic sum assured
    • On survival of the policyholder, Basic Sum Assured along with vested simple reversionary bonuses and final additional bonus will be paid as a lump sum
    • The policy shall participate in the profits of LIC and shall receive additional benefits from time to time
    • LIC’s accidental and benefit rider is available as an optional rider which can be availed by payment of a small additional amount along with the policy premium.
    • Death benefits shall not be less than 105% of the total premiums paid till death

    Features of Jeevan Lakshya:

    Minimum Basic Sum Assured Rs.1,00,000
    Maximum Basic Sum Assured No limit ( Basic sum assured will be paid in multiples of Rs.10,000)
    Policy term 13 years to 25 years
    Minimum age at entry 18 years
    Maximum age at entry 50 years
    Maximum age at maturity 65 years
    Premium payment mode Yearly, half-yearly, monthly, or quarterly
    Policy revival On nonpayment of premiums within the grace period the policy will lapse. However, it can be revived within a period of 2 consecutive years

    Best 5 LIC Plans to invest in 2017 Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Average policy to use"
      0.5 3.0/5 "Satisfactory"
      I have closed the LIC jeevan anand life insurance policy , because I was not interested to have the Life insurance policy with the LIC. The customer support was average with the LIC. This policy has the tenure of 21years and I have paid the premium of Rs,20,000 every year. The plan benefits and the policy is average with the LIC policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 15, 2017
    • LIC Life Insurance
      "Wonderful"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Life Insurance Corporation of India for some long time. Policy coverage value and the plan benefits are good one with the Life Insurance Corporation of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 15, 2017
    • LIC Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have the life insurance policy with the Life Insurance Corporation of India and I would like to say that the policy coverage, I would like to say that the plan benefits are good one for me with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 15, 2017
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with SBI Life.The policy is taken 20 years ago.The policy is applicable till retirement from the bank post that also its applicable provided should pay some sum to continue the service.I get a policy coverage of 7 lakhs.I pay a premium of 400 debited from my salaried account.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 15, 2017
    • LIC Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a Life Insurance with LIC.I have been holding the policy for 30 years.I pay a premium of Rs270 and get a policy coverage of one lakhs.The total policy is for 20 years,i don't get best offers compare to other banks.The website is easy to understand.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 15, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with LIC from last 4 years and it is a money back policy. The tenure of this life insurance policy is 20 years. I pay a premium of Rs 15000 in annual basis through online and the payment options are convenient for me. I have a coverage amount of Rs 4 lakhs and the benefits is very good in this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      LIC policy is a very good policy to use and i have this policy from last 2 months. The tenure of this life insurance policy is 20 years. I pay my premium once in 3 months through cash and i am convenient with the payment options. Customer service is good and they responded on time. I am also happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with LIC.The premium amount is 6000 paid once in a year.I make payment by cash through an agent.The policy is for 4 years.I have no claim experience with the bank.I get a good policy coverage of three lakhs overall its the best policy for the customers.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      With LIC I have the Life insurance policy around 6years ago. The customer support is good with the LIC and I will pay the premium through ECS mode and I pay the premium of Rs,1000 to this policy. This policy has the tenure of 15yeras. The plan benefits and the coverage is good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good policy for the children "
      0.5 5.0/5 "Blown Away!"
      The Life insurance corporation of India has offered me a child plan life insurance policy it has the tenure of 15years. I got this policy around 4years ago. I pay the premium of Rs,2950 every month to this policy. The plan benefits and the coverage is good with this policy,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Life Insurance with LIC.I make a payment of 24,000 in year,I get policy coverage of 5 lakhs.I have no claim experience with them.The rate of interest is good compared to other investment products.The policy is for 20 years.I make a payment by an agent.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      Life insurance corporation of India service was good ,for the term period of 15 years and I have taken one policy with Life insurance corporation of India and the policy I have taken was jeevan anand it was a average service from Life insurance corporation of India.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The service was very good with Life insurance corporation of India,I have two policy from Life insurance corporation of India jeevan anand ,money back policy ,they use to update me regarding new schemes and offers and the payments where through online it was a good experience with Life insurance corporation of India.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Better policy"
      0.5 5.0/5 "Blown Away!"
      I had taken life insurance policy with LIC. It is a Jeevan Anand policy and it was taken 1 year back. It is a tenure of 20 years. The customer service is good. I pay the premium every 3 month. I make the payment through cash. I am paying up to 3500 rupees as a premium. It is a cash back policy.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Life insurance corporation of India service was very good ,the term period is for 15 years but I am disappointed that they never update me regarding new schemes and offers and the payments where generally payed directly it was a good experience with Life insurance corporation of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Life insurance corporation of India service was very good,yearly I am paying 50k as my premium and I have three policy with Life insurance corporation of India money back ,jeevan surabhi ,jeevan saral are them. For the term period of 20 years it was a good experience with Life insurance corporation of India.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India and the customer service is good one for me, also the payment mode is really good one. I am happy with the LIC of India and everything is fine one for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with LIC from last 3 years and it is a long term policy. The tenure of this life insurance policy is 20 years and i pay my premium on annual basis through cheque and they provide door step service to collect the payment. The coverage and benefits are very good in this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 14, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with LIC from last 3 years and it is a good policy to use. The tenure of this life insurance policy is 10 years. I pay my premium once in 6 months through cheque and the payment options are convenient for me.I am happy with the coverage amount, returns and benefits of this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 13, 2017
    • LIC Life Insurance
      "Best policy to use"
      0.5 5.0/5 "Blown Away!"
      LIC policy is a very good policy to use comparatively. I am using this policy from last 10 years and it is a long term policy. The tenure of this policy is 21 years. I pay my premium on annual basis through ECS. I have a coverage amount of Rs 5 lakhs and i am happy with the benefits and returns of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 13, 2017
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