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

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.

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:

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

Popular General Insurance Companies India, 2023

Conclusion

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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