LIC Investment Plan 2024 Benefits, Features, Details, Reviews

LIC Investment Plan – Given that it is backed by the government, LIC policies can be a good investment choice when purchasing a life insurance plan. Individuals can purchase comprehensive life insurance from it, as well as opportunities to save money and increase wealth through market-linked returns. The life insurance industry in India is dominated by the company, which has a substantial market share and a substantial customer base of more than 250 million. 

Licensing and investment are two key areas of business that can be tricky to navigate. In this post, we’ll help you understand the basics of LIC investment, and provide tips on how to get started. We’ll also discuss some of the risks and benefits of investing in a LIC, and outline some of the best ways to go about finding the right LIC for your business. Ready to get started? Let’s dive in!

LIC Investment Plan

Life insurance plans like LIC’s investment plans, endowment plans, policies, and unit-linked plans provide a variety of ways to save money and build a financial cushion for the future. There are investment plans for every kind of investor, from the cautious to the aggressive. The fundamental thought of effective money management through LIC growth strategies are the advantage or abundance creation that show up with thorough protection inclusion. Let’s look at a few of LIC’s best investment plans.

If you’re thinking of starting a business, then you know that it’s important to secure the right financing in order to get your business off the ground. But which type of financing is the best for your business? In this article, we’ll discuss the different types of LIC investment plans and which is best for your business. We’ll also provide you with tips on how to find the best LIC investment plan for your needs. So don’t wait – start your business today and get started with the right financing!

LIC Investment Plan Details

Top 7 LIC Investment Plan

If you’re thinking of investing in a license, it’s important to understand the different types of LICs out there. There are seven of them in total, and each has its own unique features and benefits. In this article, we’ll outline the top seven LICs and explain what they offer. So read on to learn all about LICs – you might just find the perfect investment for your business!

The limited-premium, non-linked, participating endowment plan LIC Jeevan Labh combines investment and insurance benefits. Some of LIC Jeevan Labh’s most important features and appealing benefits are listed below.

The Advantages and Drawbacks of LIC Jeevan Labh

• As the strategy is a partaking plan, policyholders are qualified for get vested straightforward reversionary rewards (proclaimed in view of organization’s exhibition consistently) at the hour of development or on death. Final bonuses may also be paid out by the policy.
  A death benefit is paid to the nominee if the policyholder passes away during the term. The sum assured upon death, vested simple reversionary bonuses, and any remaining bonuses will constitute the death benefit. Wherein, the aggregate guaranteed on death is higher of the accompanying:
• 1. 10X annualized premium
  2. Basic sum assured
  3. 105% of total premium paid till death
• On the off chance that the policyholder endures the whole approach term, development advantage will be paid toward the end. The basic sum assured, vested simple reversionary bonuses, and final bonuses, if any, will be paid as maturity benefits.
• Additional optional riders are available to expand coverage, including LIC’s brand-new term assurance rider and LIC’s accidental death and disability benefit rider. The plan provides liquidity through a loan facility.

Criteria for Eligibility and Other Requirements – LIC Jeevan Labh

The LIC New Endowment Plan combines savings with protection in one plan. It is a non-linked participating plan with incredible benefits and features.

The advantages of the LIC New Endowment plan’s features

• A death benefit is paid to the nominee if the policyholder passes away during the term.
• The sum assured upon death, vested simple reversionary bonuses, and any remaining bonuses will constitute the death benefit.
• Wherein, the aggregate guaranteed on death is higher of the accompanying:
• 10 times the annualized premium Basic sum assured equals 105 percent of the total premium paid until death if the policyholder lives to see the end of the policy’s term.
• The plan provides an additional optional rider, which is LIC’s accidental death and disability benefit rider. The maturity benefit that will be paid will be the basic sum assured in addition to any vested simple reversionary bonuses and final bonuses, if any.
• The arrangement meets the liquidity needs through a credit office.

Terms and Conditions for the LIC New Endowment Plan’s Eligibility Criteria

The LIC New Jeevan Anand is an all-life, non-linked, participating endowment plan that provides savings and protection for life. The policy has a lot of amazing features and benefits, and it provides risk coverage all through life, even after the policy has reached maturity.

The Advantages of LIC New Jeevan Anand and Its Features

• A death benefit is paid to the nominee if the policyholder passes away during the term. The death benefit will consist of the sum assured, any vested simple reversionary bonuses, and any remaining bonuses. Wherein, the aggregate guaranteed on death is higher of the accompanying:
  1. 125% of Basic sum assured
  2. 10X annualized premium
  3. 105% of total premium paid till death
• On the off chance that the policyholder endures the whole approach term, development advantage will be paid toward the end.The basic sum assured, vested simple reversionary bonuses, and any remaining bonuses will constitute the maturity benefit.
• The basic sum assured is paid to the nominee as a death benefit when the policyholder passes away after the maturity date.
• The policy provides a loan facility to assist the insured in meeting their liquidity needs.
• The accidental death and disability benefit rider offered by LIC can be purchased as an optional extra.

Terms and Conditions of Eligibility for LIC New Jeevan Anand

The traditional LIC investment plan known as LIC Jeevan Lakshya provides the insured’s family with an annual income benefit in the event of an unanticipated event in addition to the benefits of insurance cum investment. The arrangement accompanies various advantages and significant highlights.

Advantages of LIC Jeevan Lakshya’s Features

• Death benefits are paid in the following ways if the insured passes away during the policy term:
  1. Yearly demise benefit comparable to 10% of essential aggregate guaranteed which will be payable from the approach commemoration concurring with the date of death till the arrangement commemoration preceding date of development
  2. A guaranteed outright sum equivalent to every available ounce of effort of essential aggregate guaranteed + vested straightforward reversionary rewards + last rewards assuming any will be payable on development
• If the insured survives the policy term, a maturity benefit equal to the basic sum assured, vested simple reversionary bonuses, and final additional bonuses, if any, will be paid.
• The policy offers optional additional benefits, including LIC’s new term assurance rider and LIC’s accidental death and disability benefit rider.
• The plan’s loan facility option helps meet liquidity needs. All in-force policies will continue to participate in the company’s profit until the date of maturity.

LIC Jeevan Lakshya’s eligibility criteria and other terms

One of the LIC investment plans, LIC Jeevan Umang, offers long-term savings and whole life risk coverage. The strategy accompanies different alluring highlights and astounding advantages.

The Advantages and Drawbacks of LIC Jeevan Umang

• Sum assured on death, vested simple reversionary bonuses, and any remaining bonuses, if any, will be paid to the nominee in the event that the insured passes away during the policy term. where the highest amount of the following is guaranteed upon death:
  1. Sum assured on maturity
  2. 10X annualized premium
  3. Basic sum assured
  4. 105% of total premiums paid till death
• Starting on the date that the premium payment term comes to an end, the policy provides survival benefits.
• The policy offers a variety of additional optional benefits, including LIC’s accident benefit rider, LIC’s accidental death and disability benefit rider, LIC’s new term assurance rider, and LIC’s new critical illness benefit rider.
• A loan can be taken out against the policy. 8% of the basic sum assured will be paid until the insured dies or until the policy anniversary before the date of maturity, whichever comes first.
• On the date of maturity, the basic sum assured plus any vested simple

Eligibility Criteria and Other Terms – LIC Jeevan Umang Plan

One such traditional LIC investment is the LIC New Children Money Back Plan, which is specifically designed to save for long-term objectives like children’s higher education and financial security. It is a money back plan that participates, is unlinked, and has many unique features.

Features and Benefits of LIC New Children Money Back Plan

• One such traditional LIC investment is the LIC New Children Money Back Plan, which is specifically designed to save for long-term objectives like children’s higher education and financial security.
• It is a money back plan that participates, is unlinked, and has many unique features.

Eligibility Criteria and Other Terms – LIC New Children Money Back Plan

The LIC Jeevan Tarun investment plan was created with children’s long-term financial needs in mind. Participating, limited premium payment plan that is not linked. It is a plan that can be changed at any time and has a variety of features and benefits to meet the different needs of investors.

Features and Benefits of LIC Jeevan Tarun

1. The policy provides maturity benefits at the age of 25 and annual survival benefits beginning at age 20 and continuing until age 24.
2. The maturity benefit will consist of a predetermined fixed percentage of the sum assured, vested simple reversionary bonuses, and any final additional bonuses. The plan allows for flexibility in selecting the survival benefit. A death benefit is paid to the nominee in the event of the policyholder’s death during the policy term.
3. The percentage of the sum assured that is paid out annually as a survival benefit for five years starting at the age of 20 can be selected based on the requirements—five percent, ten percent, or fifteen percent annually—or there is no survival benefit.
4. The sum assured upon death, vested simple reversionary bonuses, and any remaining bonuses will constitute the death benefit. Wherein, the aggregate guaranteed on death is higher of the accompanying:

• 125% of Basic sum assured
• 10X annualized premium
• 105% of total premium paid till death

Eligibility Criteria and Other Conditions – LIC Jeevan Tarun

A participating, non-linked insurance cum investment plan, LIC’s single premium endowment plan permits one-time investments. It is possible to invest lump sum funds over a specific time period. The survival benefit will be paid out at the end of the chosen policy term. If the insured passes away during the coverage period, the death benefit will be paid. The policy can also be used as collateral for the loan.

Eligibility Criteria and Other Terms – LIC Single Premium Endowment Plan

Logging in to the LIC website is the only way to purchase LIC investment plans. A straightforward procedure is as follows:

• Complete the online application by entering all required information, including name, contact number, address, email
• address, income information, and selecting an investment type.
• Consent to the agreements
• Click on submit button and complete the course of online application

Visit LIC branch offices or purchase LIC investment plans through agents and brokers.

Related Posts-

Tata AIA Life Insurance MahaLife Gold Plus Plan

Reliance Bluechip Savings Insurance Plan

Term Insurance top 5 Best Term Plan