LIC Policy: Best LIC Policies In India 2024

With regards to getting your monetary future, the Life Insurance Corporation of India (LIC) has been a confided-in accomplice for a large number of people. LIC of India offers an extensive variety of insurance contracts custom-made to different requirements and inclinations. Let’s find out more about the list of LIC policies, their unique features, and benefits. Whether you’re looking for a short-term investment, a long-term savings plan, or simply wish to provide financial security to your loved ones, LIC has a plan for you.

Table Of Contents:

1. The LIC Plan – 5 Years Double Money
2. List of LIC Policies in India
3. LIC Policy: 1,000 Per Month
4. LIC Policy List for 15 Years
5. LIC Policy Number
6. LIC Policy Details by Policy Number
7. Choosing the Right LIC Policy
8. Conclusion

The LIC Plan – 5 Years Double Money

The LIC Plan – 5 Years Double Money is one of the most popular policies offered by LIC. It combines the benefits of insurance and investment, making it an attractive choice for those looking to secure their future financially. The primary feature of this LIC policy is the promise of doubling your investment within a period of 5 years. This means that if you invest a specific amount in this policy, you will receive double the amount at the end of the policy term, which can be immensely beneficial.

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List of LIC Policies in India

LIC of India offers a large number of approaches to taking special care of different necessities. Below, you’ll find a comprehensive list of LIC policies available in India:

• LIC Term Insurance Policies:  This category of LIC plans allows you unadulterated life inclusion with no reserve funds component. The LIC e-Term plan and LIC Anmol Jeevan II are popular LIC policy choices for term insurance.
• LIC Endowment Plans: These policies offer both life cover and savings. Popular endowment plans include LIC New Endowment Plan, LIC Jeevan Pragati, and LIC Jeevan Lakshya.
• LIC Money Back Policies: These policies provide periodic payouts during the policy term, offering financial support at regular intervals. Examples include LIC New Money Back Plan and LIC Bima Shree.
• LIC Whole Life Policies: These policies provide coverage for the entire lifetime, making them suitable for long-term financial planning. LIC Whole Life Insurance and LIC Jeevan Umang are notable options.
• LIC Child Plans: These policies are designed to secure a child’s future, including education and marriage expenses. Popular choices are LIC Jeevan Tarun and LIC New Children’s Money Back Plan.
• LIC Pension Plans: Also known as retirement plans, these policies help build a retirement corpus. LIC Jeevan Akshay VI and LIC New Jeevan Nidhi are prominent pension plans.
• LIC Health Plans: These approaches give well-being inclusion and monetary help during health related crises. LIC Jeevan Arogya and LIC Cancer Cover are examples of health plans.
• LIC ULIPs (Unit Linked Insurance Plans):ULIPs offer a mix of insurance and investment.LIC Nivesh Plus and LIC Wealth Plus are popular ULIP choices.
• LIC Single Premium Policies: These policies require a one-time premium payment. Examples include LIC Jeevan Shanti and LIC Jeevan Aastha.
• LIC Micro Insurance Plans: Designed for individuals with lower income, these policies offer basic insurance coverage at an affordable premium. LIC Jeevan Madhur and LIC Bhagya Lakshmi are micro insurance options.
• LIC Special Plans: LIC also offers unique policies such as LIC Jeevan Shikhar and LIC Jeevan Labh that cater to specific needs.

LIC Policy: 1,000 Per Month

The LIC Of India 1,000 Per Month Policy is an affordable and accessible way to start building a financial cushion for your future. This policy allows you to invest a fixed amount of Rs. 1,000 per month. Over time, your investment grows along with bonus additions, creating a savings fund that can be utilized for various life goals.

LIC Policy List for 15 Years

If you are looking for a long-term commitment, there are several LIC Of India policies with a tenure of 15 years. These policies are intended to offer significant advantages and assist you with accomplishing your drawn-out monetary objectives. Some of the policies with a 15-year term include LIC Jeevan Anand, LIC Jeevan Labh, and LIC New Endowment Plan.

LIC Policy Number

Each LIC policy is assigned a unique policy number. This number is crucial for tracking and managing your policy. It is typically mentioned in the policy document, premium receipts, and other communications from LIC. Make sure to keep your policy number handy for any inquiries or transactions related to your policy.

LIC Policy Details by Policy Number

To access the details of your LIC policy, you can simply use your policy number. You can contact LIC customer support, visit the LIC website, or use the LIC mobile app to get information about your policy’s status, premium due dates, bonus accrual, and more. This easy access to policy details ensures that you can stay informed about your investment and its progress.

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Choosing the Right LIC Policy

Now that you are familiar with the list of LIC Of India policies and some of their key features, it’s important to understand how to choose the right policy. Here are a few fundamental variables to consider:

• Financial Goals: Evaluate your monetary objectives and necessities. Are you searching for unadulterated life coverage, long-term reserve funds, or a blend of both? Understanding your targets will assist you with choosing the most reasonable strategy.
• Budget: Decide how much premium you can serenely manage. LIC policies accompany different premium installment choices, including month-to-month, quarterly, half-yearly, or yearly. Choose one that aligns with your budget.
• Policy Term: Decide on the policy term that best fits your objectives. Some policies are designed for short-term needs, while others are ideal for long-term financial planning.
• Riders: LIC policies frequently offer extra riders for upgraded inclusion. Consider whether you want any of these riders, like basic disease, unintentional demise, or handicap riders.
• Return on Investment: Assess the possible profit from speculation and the bonus construction of the arrangement. This will assist you with understanding how your speculation will develop after some time.
• Claim Settlement Ratio: Check the claim settlement ratio of LIC. A high ratio indicates a strong track record of processing and settling claims promptly.
• Tax Benefits: Many LIC policies offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act. Be sure to explore the tax advantages associated with your chosen policy.

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Conclusion

LIC offers a diverse range of policies to cater to the unique financial needs and goals of individuals in India. Whether you are seeking pure life coverage, savings, retirement planning, or health insurance, LIC has a policy for you. By figuring out the list of LIC policies and taking into account the elements referenced above, you can go with an educated choice and secure your monetary future.

Additionally, with easy access to LIC policy details using your policy number, staying updated on your investments has never been simpler. Choose the LIC policy that aligns with your financial aspirations and embark on a journey towards a more secure and prosperous future.