Life Insurance Corporation of India (LIC) is a household name today. This state-owned investment and insurance company is headquartered in Mumbai. Boasting of an estimated asset value of INR 25,29,390 crore or USD 370 billion, it is the largest Indian insurance company with numerous insurance products and offers on its cards.
The Life Insurance Corporation was founded in the year 1956 when more than 245 provident societies and insurance companies were merged to form the state-owned organisation. If you are on the lookout for a reliable life insurance company with a variety of products, then LIC provides you with the perfect ones.
Through this article, we aim to throw light on the different plans offered by the Life Insurance Corporation of India. Take a look.
Different Plans offered by Life Insurance Corporation of India
Insurance broker and comparison portals of the likes of Coverfox.com are flush with different kinds of plans by the Life Insurance Corporation of India. You may want to assess your needs and budgetary restraints before taking the plunge.
LIC Endowment Plans
LIC’s New Jeevan Rakshak
This endowment non-linked non-participating policy comprises of a combination between protection and savings. Along with maturity and death benefits, you get to avail loan facilities against the policy as well.
New Jeevan Anand
With either twice the premiums or 125% of sum assured as returns, this Life Insurance Corporation plan provides optimum death benefits. The maturity benefits so provided can be used for attaining different goals.
LIC’s Jeevan Labh, Jeevan Pragati, Jeevan Lakshya, etc. are the other oft-purchased endowment plans that you may like to research upon before freezing your buy.
Money Back Plans by LIC
LIC’s New Children’s Money Back Plan
This 20-year money back policy features death benefits, maturity benefits, survival benefits, and optional benefits alike. It is in the nature of a participating policy which allows you to enjoy reversionary bonuses from LIC through your participation in the company’s profits.
The New Money Back Plan, New Bima Bachat Plan, LIC’s Jeevan Tarun, Bima Diamond by LIC are other important policies from Life Insurance Corporation that are designed to serve your needs and plans.
LIC Term Assurance Plans
LIC’s Anmol Jeevan II, LIC’s Amulya Jeevan II and LIC’s e-Term are the three plans in the pure term insurance category.
Anmol Jeevan II
This revised protection plan by Life Insurance Corporation offers monetary protection to your loved ones in the event of your unfortunate demise.
Amulya Jeevan II
This minimal and basic term insurance plan aims to benefit your long-term investment plans via regular benefits.
LIC’s New Endowment Plus is an endowment plan that also features the attributes of a linked product. This plan by Life Insurance Corporation will provide you with more tax savings along with ensuring the financial security of your loved ones after your demise. As it is a linked plan, the regular benefits of this product will give you a chance to make investments along with insurance.
LIC Pension Plans
New Jeevan Nidhi and Jeevan Akshay are the two pension plans on offer by Life Insurance Corporation. These LIC plans have several benefits on their cards along with complete life cover. They are known to provide stable income flows in the form of annuities via your investment.
The Best Insurance Plans by Life Insurance Corporation
Along with the above-mentioned types of Life Insurance Corporation plans, there are LIC Micro Insurance Plans like New Jeevan Mangal Plan and Bhagya Lakshmi that you may want to choose from. There are certain group plans as well that are worth a look for their many benefits and features.
The best insurance plans by Life Insurance Corporation are known to provide high coverage at affordable premiums. All that you need to do is compare the various features, benefits, inclusions, exclusions, terms, and conditions of the plans that meet up with your needs before going ahead with your purchase.
Log on to Coverfox.com to compare and buy the best plans for your needs. Once you have shortlisted the best Life Insurance Corporation plans, use smart and easy-to-use online premium calculation and insurance comparison tools to facilitate your buy.
Make your payment through reliable and seamless online payment channels to complete the process – you will be glad to see the results that come your way.