LIC or Life Insurance Corporation of India is the largest life insurance company in the country, providing insurance solutions to millions of Indians. With a range of policies to choose from, selecting the right LIC plan can be a daunting task. Here are some of the best LIC plans in 2023:
- LIC Jeevan Amar:
This plan offers a comprehensive life cover at a low premium. Policyholders have the option to choose from two death benefit options- Level Sum Assured or Increasing Sum Assured. This plan also offers the flexibility to pay premiums monthly, quarterly, half-yearly or annually. Additionally, it provides a maturity benefit to the policyholder at the end of the policy term.
- LIC Jeevan Umang:
This plan is a non-linked, with-profit plan that provides a regular income to the policyholder for their entire life. The policy also provides a lump sum amount on maturity, which can be used to meet expenses such as children’s education, marriage, or retirement. This plan also offers a death benefit, which is payable to the nominee on the death of the policyholder.
- LIC New Children’s Money Back Plan:
This plan is specifically designed to cater to the financial needs of children. It offers a lump sum amount at regular intervals to meet their education and other expenses. Additionally, the policy provides a death benefit to the nominee in case of the policyholder’s unfortunate demise.
- LIC Jeevan Shiromani Plan:
This is a non-linked, with-profit, limited premium payment policy that offers a range of benefits. The policy provides a life cover along with critical illness cover, which includes coverage for major illnesses such as cancer, heart attack, and kidney failure. It also provides a guaranteed addition of 8% of the basic sum assured for the first five policy years.
- LIC Tech Term Plan:
This is an online term insurance plan that provides comprehensive protection to the policyholder’s family in the event of the policyholder’s untimely demise. This plan is ideal for individuals who prefer to buy insurance online and want to ensure that their family is financially secure in case of their absence.
In conclusion, LIC offers a wide range of plans that cater to the varying needs of individuals. The best LIC plan for you will depend on your age, income, financial goals, and risk appetite. Before selecting a plan, it is important to evaluate your needs and consult with a financial advisor to make an informed decision. Investing in an LIC plan in 2023 can help secure your family’s financial future and provide peace of mind.