Best LIC Guaranteed Return Plans in India 2023 – Check Features and Benefits


5 min read

Updated on Sep 22, 2023

The Life Insurance Corporation of India came into existence in the year 1956 and has been offering a wide range of insurance plans to the citizens of India. Among the most popular plans issued by the company are Guaranteed Return Plansthat offer the best coverage benefits at minimum risk. As the name suggests, a guaranteed return investment plan allows you to save money with guaranteed returns for the future.

Let us dig deeper to understand the benefits of buying a guaranteed return investment plan from LIC. We will also guide you to choose the best-guaranteed return plans along with their features and respective benefits.

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Why Buy a Guaranteed Return Plan from LIC?

Guaranteed investment return plans from LIC offer a host of benefits such as:

1. Guaranteed Returns: 

Irrespective of market fluctuations, these investment plans offer a guaranteed maturity benefit or a death benefit to the policyholder

2. Maturity Benefits: 

Most of the LIC plans offer maturity benefits, which makes the policyholder eligible to get a lump sum payment when the policy ends

3. Death Benefits: 

The nominee chosen by the policyholder gets a guaranteed sum assured, in case of the death of the policyholder during the policy term

4. Fixed Policy Tenure: 

All the LIC guaranteed investment return policies come with a fixed policy term that ranges from 10 to 30 years

5. Additional Benefits: 

Some guaranteed return plans from LIC also provide additional benefits or bonuses based on the insurer’s performance.

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Best Guaranteed Return Investment Plans from LIC

The table below shows the best-guaranteed return plansfrom LIC:

Name of LIC Plan

Type of Plan

Max. – Min. Sum Assured

LIC Tech Term Plan

Pure Term Insurance Policy

Minimum: Rs. 50 lakhs

Maximum: No Limit

LIC Jeevan Amar Plan

Pure Term Insurance Policy

Minimum: Rs. 25 lakhs

Maximum: No Limit

LIC Jeevan Umang Plan

Whole Life cum Endowment Plan

Minimum: Rs. 2 lakhs

Maximum: No Limit

LIC Jeevan Labh Plan

Endowment Plan

Minimum: Rs. 2 lakhs

Maximum: No Limit

LIC New Jeevan Anand Plan

Endowment Plan

Minimum: Rs. 1 lakh

Maximum: No Limit

LIC New Children’s Money-Back Plan

Traditional Child Money-back Plan

Minimum: Rs. 1 lakh

Maximum: No Limit

1. LIC Tech Term Plan:

It is a non-linked LIC policy that can be purchased only online. LIC Tech Term plan can be availed at concessions on premiums by non-smokers and women.

Some features of the LIC Tech Term Plan are:

Entry Age: 18 – 65 years

  • Offers a high sum assured
  • Comes with tax benefits and death benefits

2. LIC Jeevan Amar Plan: 

It is a pure-term LIC plan that offers guaranteed returns and financial assistance to the family of the insured in case of an unfortunate death incident. It doesn’t offer maturity amounts but only death claims.

 Some features of LIC Jeevan Amar Plan are:

Entry Age: 18 – 65 years

  • Premiums can be paid on a single, limited, or regular basis
  • Offers high-risk coverage and two death benefit coverage such as Level Sum Assured and Increasing Sum Assured

3. LIC Jeevan Umang Plan: 

It is an endowment cum whole life insurance plan that offers the dual benefits of savings as well as earnings. Considered as one of the best guaranteed return investment plans, LIC Jeevan Umang Plan offers up to 80% of the sum assured as a survival benefit to the policyholder.

Some features of the LIC Jeevan Umang Plan are:

Entry Age: 90 days

  • Offers maturity benefits, death benefits, and survival benefits
  • Serves as an ideal pension plan post-retirement

 4. LIC Jeevan Labh Plan: 

It is a non-linked endowment plan wherein you need to pay the premiums only for a limited period.

 Some features of the LIC Jeevan Labh Plan are:

Entry Age: 8 – 59 years

  • Main benefits in the form of the loan facility, death benefit, and maturity benefit
  • Tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961

5. LIC New Jeevan Anand Plan: 

This new LIC plan offers guaranteed returns on investments with sturdy financial protection for the future. It is at present the highest-selling LIC plan.

 Some features of LIC New Jeevan Anand Plan are:

Entry Age: 18 – 50 years

  • Optional benefits like death benefits, disability benefits, new term assurance rider benefits
  • Tax benefits under Section 80C of the Income Tax Act, 1961

 6. LIC New Children’s Money-Back Plan:

It is a non-linked money-back plan that offers financial coverage for your child and offers several interesting benefits. LIC New Children’s Money-Back Plan is one of the guaranteed return plans from LIC that can be surrendered any time after paying the premium amount for 3 years.

 Some features of LIC New Children’s Money-Back Plan:

Entry Age: 0 – 12 years

  • Beneficial to meet the future expenses of your child like marriage, and education through a Survival Benefit that is 20% of the sum assured
  • Premium can be paid on a monthly, half-yearly, and yearly basis

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It is important to note the features, and benefits along with the terms and conditions of aGuaranteed Return Investment Planfrom LIC. Also, ensure reviewing the policy documents and seeking professional advice to understand the specific details of a plan you want to purchase from LIC.
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FAQs: Best LIC Guaranteed Return Plans their Features and Benefits

Should I invest in a LIC Guarantee Return Policy?

LIC or Life Insurance Corporation of India is a government-based insurance company that offers guaranteed returns on investments. Besides getting higher returns on such plans, you can also expect tax benefits under Section 80C of the Income Tax Act 1961 from LIC guaranteed return plans.

Which LIC plan gives the maximum returns?

There are several guaranteed return investments offered by LIC. Some of these policies to consider are:

~ Jeevan Amar Plan
~ New Endowment Plan
~ New Jeevan Anand Plan

Which is the best LIC policy for 2023?

Different individuals have different financial goals, hence no one LIC plan can be considered best for everyone. Some of the best options to consider for 2023 are LIC Jeevan Amar, LIC New Endowment Plan, and LIC Jeevan Anand.

What is the process of buying a new LIC plan?

Follow these steps to buy a LIC policy:

~ Visit the official LIC portal
~ Choose the “Buy Policies Online” option under the term plan
~ Click the “Buy Online” tab and choose the sum assured premium payment option, and policy tenure, and fill in other details
~ Make the premium payment online

Is a LIC policy better than a mutual fund?

Although a LIC policy might not give you high returns as compared to a mutual fund, they are 100% safe to secure your future financially for a long-term investment. LIC policies are less risky as compared to mutual fund investments.

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Jul 03, 2023
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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