Find your suitable insurance plan
279
5 min read
Updated on Jan 23, 2023
Buying a LIC policy can be a little tricky, especially if you are planning to invest for the first time. Well, in that case, the best option to go for is Life Insurance Corporation of India. The most important reason why you should go for LIC is that it is government-backed; thus, is considered by many Indians to be more secure. And while we talk about the corporation, let us discuss the best LIC policy for investment.
| LIC Policies | Plan Type | Entry Age | Maximum Maturity Age | Policy Term | Sum Assured |
| LIC SIIP Plan | Unit-linked insurance plan | 90days(completed)-65 years | 85 years | 10-25 years | 7 to 10 times the annual premium |
| LIC Bima Jyoti Plan | Endowment Plan | 90days(completed)-60 years | 75 years | 15-20 years | Min- Rs.1,00,000 Max- No upper limit |
| LIC Jeevan Labh | Traditional savings plan | 8 years-59 years | 75 years | 16, 21, or 25 years | Min-Rs.2,00,000 Max- No upper Limit |
| LIC Jeevan Umang | Whole Life Insurance | 90days(completed)-55 years | 100 years | 100 years minus(-) the age at entry | Min- Rs. 2,00,000 Max- No upper Limit |
| LIC Bima Ratna | Money Back Policy | 90days(completed)-55 years | 70 years | 15, 20, or 25 years | Min-Rs.5,00,000 Maximum- No upper limit |
| LIC Money Back 25 years | Money Back Policy | 13 years-45 years | 70 years | 25 years | Min-Rs.1,00,000 Max- No upper limit |
| LIC New Jeevan Anand | Endowment Plan | 18 years- 50 years | 75 years | 15 years-35 years | Min- Rs.1,00,000 Max- No upper limit |
Now, let us delve deeper to know a few of these plans at length.
It is a unit-linked insurance plan and along with insurance protection, you will also be able to create a corpus. If you are wondering why this is considered the best LIC policy for maximum return, then here are the reasons mentioned below:
| Entry Age | Maturity Age | Sum Assured | Policy Term | |
| Minimum | 90 days(completed) | 18 years | 7 times the annual premium | 10 years |
| Maximum | 65 years | 85 years | 10 times the annual premium | 25 years |
With this policy, you will not only be able to stay protected under life insurance but can also systematically save money.
| Entry Age | Maturity Age | Sum Assured | Policy Term | Premium Paying Term | |
| Minimum | 90 days(completed) | 18 years | INR 1,00,000/- | 15 years | Policy term minus 5 years |
| Maximum | 60 years | 75 years | No limit | 20 years |
This is yet another best insurance policies in India with high returns. In case of an unfortunate event, the family of the policyholder will get financial security. And if the policyholder survives, he/she will get the maturity benefit and also a revisionary bonus as well as a final additional bonus.
Features of LIC Jeevan Labh:
Eligibility Criteria for LIC Jeevan Labh:
| Entry Age | Maturity Age | Sum Assured | Policy Term | Premium Paying Term | |
| Minimum | 8 years | N/A | INR 2,00,000/- | 16, 21, or 25 years | 10, 15, or 16 years |
| Maximum | 59 years | 75 years | No limit |
Conclusion
Apart from these, the other LIC plans and policies are equally good and come with several benefits. No matter which one you are choosing, you are certainly going to make your family’s financial future secure. So, all that you need to do is to check out all the LIC plans and policies and pick the one that you prefer.
Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit PayBima to Buy Insurance Online.
View this post on Instagram
There are several LIC policies that you can opt for to get high returns. Some of them are LIC SIIP Plan, LIC Bima Jyoti Plan, LIC Jeevan Labh, LIC Jeevan Umang, LIC Bima Ratna, LIC New Jeevan Anand, LIC Money Back 25 years, etc.
LIC policies are good for those who are risk-averse. With LIC policies, you will get coverage that can be helpful for the future of your family.
Buying a LIC policy towards the end of the fiscal year, i.e. March, is considered to be good.
Yes, LIC offers a bonus on the policy each year; however, it is subject to surplus. To calculate the yearly bonus, you can use the LIC bonus calculator.
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.
The Union Budget 2023 was presented on February 1, which highlighted certain changes in the new tax regime. Let us understand them to see which one.
Feb 06, 2023
5 min read 
The recent union budget presented by Nirmala Sitharaman, India’s Finance Minister, included some key changes in the new income tax regime. Let us take a.
Feb 03, 2023 5 min read 
Best saving solutions in India specialized for NRIs! Are you a Non-Residential Indian who wants to invest in your home country? Well, if your answer.
Feb 02, 2023 5 min read 
Retirement is regarded as the golden period of one’s life. However, to make sure that it stays that way, you must have steady income coming.
Jan 31, 2023 5 min read 
PLI or Postal Life Insurance schemes were launched by India Post aided by the central government of India. PLI is among the several services offered.
Jan 30, 2023 5 min read 
Are you looking at a secured investment scheme to double your money in just 10 years? If so, KVP or Kisan Vikas Patra with 7.2%.
Jan 27, 2023 5 min read 
When it comes to the popular and safe investment options that are commonly sought by people in India, the Kisan Vikas Patra (KVP) features among.
Jan 27, 2023 5 min read 
The Indian Postal service is one of the best postal services with the maximum reach. With its presence in the remotest areas of rural India,.
Jan 25, 2023 5 min read 
The West Bengal government has recently introduced a pension scheme to support the needy people of the state. Named as 'Joy Bangla Pension scheme', this.
Jan 25, 2023 5 min read 
National Pension Scheme (NPS) Tier 2 account is a Central Government scheme provided to protect the interest of the policyholders by means of various regulations..
Jan 24, 2023 5 min read 
Corporate Office : Mahindra Insurance Brokers Ltd ( A Mahindra Group Company ) Sadhana House, Ground Floor, 570 P. B. Marg, Behind Mahindra Towers, Worli, Mumbai 400018.
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2023 Mahindra Insurance Brokers. All Right Reserved.
Get A Call Back