Which policy is best in lic

Invest in any of the above-mentioned policies and enjoy the benefits which the policy promises. Turtlemint is an online platform that lets you buy the best LIC policy for your coverage requirements. The benefits of buying through Turtlemint are as follows — You can simply provide your personal information and buy the policy with the click of a few buttons Turtlemint also recommends the ideal coverage level based on the income that you enter You can compare similar plans on Turtlemint before you buy the actual policy.

When you compare you can find the plan which has the best coverage benefits at the most reasonable premium rates. Turtlemint not only helps you buy the most suitable LIC policy online, but you can also get help at the time of claims too.

Turtlemint has a dedicated claim handling department that coordinates with the insurance company to ensure a quick claim settlement. So, choose the most relevant LIC policy based on your needs and buy the policy easily from Turtlemint. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Policy cancellation and refund of the premium shall be as per the terms and conditions of the policy.

The refunds are processed by the Insurance Company directly. You are requested to contact the toll free number of your Insurance Company or refer the respective section of your Policy terms and conditions.

You can also call us at our toll free number or write a mail to us at support turtlemint. For escalations customer can write to us at po invictusinsure. Skip to content. Additionally, survival benefits might be provided by some insurers. Choosing the right term insurance policy is a crucial decision for individuals as well as their dependents, which is why comparing their features and benefits becomes a critical decision. The features of endowment plans include the following — A death benefit is paid on death during the policy term.

Risk-averse individuals who are looking to create savings along with insurance. Money-back plans Money-back plans are like endowment plans. However, they pay the sum assured in instalments during the policy tenure rather than in a lump sum on maturity. The features of money back plans include the following — Sum assured is paid in predetermined instalments at predefined intervals during the term of the policy When the policy matures, the rest of the sum assured is paid along with a bonus In case of death of the insured within the policy tenure, the entire sum assured is paid to the nominee irrespective of the amount of money back benefits already paid.

The USPs include the following — Loyalty additions and guaranteed additions are added to the plan benefits which enhances them Money-back benefits provide easy liquidity There is an inbuilt critical illness benefit that covers 15 critical illnesses. This gives you the desired liquidity without compromising the lifelong coverage Four optional riders are available for customizing the policy You can enjoy premium discounts if you choose a sum assured of INR 5 lakhs and above or if you pay the premium in the annual or semi-annual mode.

Flexible premium paying tenure options are 15 years, 20 years, 25 years and 30 years. Policy term is less entry age. Entry age starts from a minimum of 90 days to a maximum of 55 years. Age at maturity : years nearest birthday Minimum Age at the end of premium paying term : 30 years nearest birthday Maximum Age at the end of premium paying term : 70 years nearest birthday LIC Jeevan Shanti It is a single premium plan that offers policyholders the flexibility to select between Immediate and Deferred Annuity.

Its salient features and benefits are: The annuity rates are guaranteed at the inception of the policy for both types of annuity plans that are payable throughout the life time of annuitant s. Annuity rates are fixed at the inception of the policy term. Loan facility, available after completion of 1 policy year, ensures liquidity. Can be surrendered after three months from the completion of policy when the policyholder has opted for an annuity option with return of purchase price.

Especially suitable for policyholders with handicapped dependant Divyangjan life. Available online as well as offline. Eligibility Minimum vesting age is 31 years for deferred annuity option. Maximum vesting age is usually years for immediate annuity under option F, 85 years for all other options under immediate annuity and 80 years for deferred annuity.

Minimum deferment period is 1 year, while the maximum deferment period extends to 20 years, subject to the maximum vesting age. Minimum annuity offered is Rs. LIC Jeevan Anand One of the most sold investment plans from LIC, [Jeevan Anand investment plan is a participating non-linked plan that includes the following features and benefits: Offers the dual benefit of protection and savings.

Offers risk coverage even after the maturity of the investment plan. It is an endowment cum whole life policy that offers protection along with bonus facility. This includes double death benefit in case of accidental death. Assures liquidity through the loan facility. Includes lump sum payment at the time of maturity.

Provides a good sum of financial protection against the death of the policyholder. Survival Benefit applicable on the completion of the tenure of the investment plan. Premium payment frequencies offered are monthly, quarterly, half-yearly and yearly, which can be paid through the ECS or SSS mode. Offers the flexibility of the investment plan being surrendered at any time during the policy tenure on timely payment of premiums for the first three policy years.

Eligibility Entry age ranges between 0 years and 12 years. Applicable policy term is 25 years less age at entry. Minimum Basic Sum Assured : Rs.

These additions are terminal bonuses that are paid along with death benefit or maturity benefit. Loyalty additions are generally paid from the 10th year, as per the profits made by the Corporation.

Eligibility Entry age starts from 12 years and extends till 60 years. Maximum maturity age is 75 years. Includes tax benefits of up to Rs. Simple reversionary bonus and final addition bonus is paid, subject to conditions. For someone looking for a pension facility after retirement, it's a perfect pick. Jeevan Labh plan offers a lump sum amount to the policyholder at the time of maturity of policy, and financial support to the family in case of death of the policyholder before maturity.

The policyholder participates in profits of LIC and is entitled to receive simple reversionary bonuses. The final additional bonuses if any get paid to the nominee under the plan. A customer can avail rebate on the basis of mode of premium payment. For instance, there is a 2 per cent rebate of table premium on yearly mode. The plan also provides a loan facility. However, the premiums are not eligible for income tax benefit under Sec 80C.

Sign In. It offers the required financial security to your family or loved ones in the case of your demise. In India, many individuals might think of it as just another expense. But they should ask themselves two questions: what will their families and loved ones do in case of their demise? How will they manage their lives if there is a single breadwinner in the family? If you are getting confused, the answer is a life insurance policy. Moreover, in India, whenever it comes to life insurance, the first company that comes to mind is none other than the Life Insurance Corporation of India LIC with the tagline "Zindagi ke saath bhi, zindagi ke baad bhi" meaning LIC is always with you 'in life' and 'after life' as well.

It is the most trusted brand that deals in a wider range of life insurance products. Among all the available options, it becomes quite hard to pick the best one. For better decision making, here's a list of 6 best LIC plans in India on the basis of amount of coverage policy term, etc. Expert Advice: To choose the best LIC plan among all available options, it is advisable to first understand the cause of purchasing the policy which includes key reasons i. It is a pure term plan. It does not offer any type of returns to the insured.

However, it provides the required financial assistance to the family in case of the insured's demise. It will help them in living a stable and secure life.