You should include insurance coverage in your investing strategy. It is necessary for leading a contented and stable life. Eventually, your passing gives your relatives or dear ones the necessary financial stability. So, Many people in India could consider it to be yet another expenditure. Many people prefer Best LIC Investment Plans in India 2023 for planning their financial security.
If you’re still unclear, a policy of life insurance is the solution. In India, the Indian Life Insurance Corporation (LIC), which has the slogan “Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi,” is the very first firm to provide insurance coverage. Alternatively, investing your cash is in India’s best LIC Investment Plans. Your investment is secure with the best LIC investment plans in India 2023 because it is a govt organization.
Also, LIC New investments give people the chance to secure some money and boost their wealth through business returns, in addition to providing the comprehensive best LIC Investment Plans in India.
To meet the different needs of individuals, the Life Insurance Corporation of India (LIC) provides a wide variety of best LIC Investment Plans in India. Additionally, Buyers can pick from the endowment, entire life, unit-linked insurance products, and money-back, depending on their needs, in addition to pure coverage.
10 Best LIC Investment Plans in India
These are the 10 best LIC Investment Plans in India available among the specific policies the organization has released. Check below the list of LIC plans:
|LIC Policies||Plan Types||Entry Age||Maximum Maturity Age||Policy Term||Sum Assured|
|LIC Jeevan Amar||Pure Term Insurance Plan||18 – 65||80 Years||10 – 40||Min – INR 25 Lakhs
Max – No Limits
|LIC Tech Term Plan||Pure Term Insurance Plan||18 – 65||80 Years||10 – 40||Min – INR 50 Lakhs
Max – No Limits
|LIC SIIP Plan||Unit-Linked Insurance Plan||90 days –
|85 Years||10 – 25 Years||7 to 10 times the annual premium
|LIC Jeevan Labh||Traditional Savings Plan||8 – 59 Years||75 Years||16, 21, or 25 Years||Min – INR 2- Lakhs
Max- No Limits
|LIC Jeevan Umang||Whole Life Insurance||90 days – 55 Years||100 Years||100 Years hindrance the age at entry in||Min – INR 2- Lakhs
Max- No Limits
|LIC New Jeevan Anand||Endowment Plan||18 – 50 Years||75 Years||15 – 35 Years||Min – INR 1 Lakh
Max- No Limits
|LIC Bima Ratna||Money Back Policy||90 days – 55 Years||70 Years||15, 20, or 25 Years||Min – INR 5 Lakhs
Max- No Limits
|LIC New Children Money Back Plan||Traditional Savings Plan||0 – 12 Years||25 Years||25 Years||Min – INR 1 Lakh
Max- No Limits
|LIC Bima Jyoti Plan||Endowment Plan||90 days – 60 Years||75 Years||15 – 20 Years||Min – INR 1 Lakh
Max- No Limits
|LIC Jeevan Lakshya||Traditional Savings Plan||18 – 50 Years||65 Years||13 – 25 Years||Min – INR 1 Lakh
Max- No Limits
Here, we have discussed all the Best LIC investment plans in India 2023 in Detail:
1. LIC Jeevan Amar
Jeevan Amar from LIC is pure protection best LIC Investment Plans and helps the policyholder’s family during challenging moments. The best LIC Investment Plan in IPlan2023 is a non-profit, unlinked plan. In August 2019, the Life Insurance Corporation of India introduced LIC Jeevan Amar. The policyholder does not get does kind of returns. However, This LIC investment plan offers the family the necessary financial support in the event of the death of the policyholder. Moreover, It will support them in leading secure lives. Comparatively, it gives customers a wide range of options with LIC’s best LIC’ investment plans in India.
Features of LIC Jeevan Amar
- Jeevan Amar’s best LIC Investment Plans are not market-linked.
- The LIC Jeevan Amar plan is not market-linked.
- You can raise the Sum Assured, and there is also a level Sum Assured option under this LIC investment plan.
- Under India’s best LIC Investment Plans, there is no maturity amount.
- There are two categories of premium rates under LIC investment plans: smokers and non-smokers.
- Consequently, If the policyholder passes away while the policy is in effect, the beneficiary will receive the death claim amount.
- The premium payment period and the insurance term are both options for customers under LIC investment plans.
- Premium payments may be made recurring, in one big sum, or a lump sum in this best investment plan of LIC.
Benefits of LIC Jeevan Amar
- There are two types of death benefits of life insurance under LIC investment plans.
- Increasing Sum Assured
- Level Sum Assured
- Women and non-smokers pay significantly lower premiums under the best LIC Investment Plans.
- Nicely increased rebates on the Sum Assured.
- By paying an additional premium, accident benefit riders can be added to LIC’s best investment plan as an extra layer of protection.
- Mode of Payment the payments should be done regularly, limited, or on a single basis.
- Medical Examination Urine Cotinine.
2. LIC Tech Term Plan
LIC Tech-Term is a non-linked, pure protection that provides the policyholder’s family with the appropriate financial support in the tragic situation of their passing. Moreover, No middlemen will be utilized, and the best LIC Investment Plans in India 2023 will indeed be accessible through an internet application procedure, “Online Term Assurance Policy.”
Features of LIC Tech Term Plan
- Women and the category of non-smokers are eligible for discounts on the rate of premium under LIC investment plans.
- LIC investment plans are a traditional, non-participating best LIC Investment plan in India.
- Because the best LIC Investment Plans are purely term, you will not get a maturity benefit. Also, The plan does not provide risk coverage
- This best LIC Investment Plan in India 2023 provides a High Sum Assured.
- Also, The best LIC Investment Plans offer a death benefit as well as tax advantages.
Benefits of LIC Tech Term Plan
- The insured has a 40-year maximum insurance term with which to choose the best LIC Investment Plans.
- Benefits from income tax are available under LIC investment plans.
|Mode of Payment||Annual|
3. LIC Jeevan Labh
You must make monthly premiums for just a finite period under the non-linked, with-profits, and participating endowment plan known as LIC Jeevan Labh. Additionally, The Best LIC Investment Plans in India provide a variety of benefits, such as lending facilities and death and maturity advantages, to help policyholders with their liquidity needs. Moreover, It combines savings and financial security into a single package.
Features of LIC Jeevan Labh
- The plan makes the loan option available if the premium has been maintained for at least three years.
- LIC Accidental Death and Disability Benefit Rider and LIC New Term Assurance Rider are just a couple of the available rider alternatives.
- After the first three policy years’ worth of premiums have been in full, you can cancel the insurance.
Benefits of LIC Jeevan Labh
- The insured and free bonuses, such as the Simple Reversionary Bonus and Final Additional Bonus, will be given as a death benefit to the policy’s nominee if the insured passes away before the policy term ends.
- Moreover, The sum promised at maturity, along with extras like the simple reversionary bonus and the concluding bonus, will be paid if you live to the conclusion of the policy’s lifetime.
- Mode of Payment
- 16 years policy- 10 Years
- 21 years policy – 15 Years
- 25 years policy- 16 Years
- Loan Facility Available
4. LIC SIIP Plan
You can both receive the sum insured while growing your corpus via market-linked profits. It implies that, in the event of your passing, your family’s financial security will be protected. Additionally, investing in the market enables you to increase your present savings and build an economic buffer for your children as well as yourself. These are only a few of the factors that make LIC SIIP one of the top LIC investment plans.
Features of LIC SIIP Plan
- According to your risk tolerance, you have a choice of four specific funds.
- You can freely swap to another fund when one of the products isn’t doing well.
- Allow you to reduce your tax liability.
- If you require cash immediately, you may remove a set amount from the value of the fund.
Benefits of LIC SIIP Plan
- This plan will pay the insured a sum equivalent to the deposit amount if they live till the maturity period.
- When a policyholder passes away within the policy’s term, the policy will give the nominated beneficiaries an amount comparable to the value of the unit funds. Eventually, If the insured person passes away just after the risk’s start date, the greater the basic sum assured, the valuation of the unit funds or 105% of the entire premium is due.
- You may cancel the plan within the free trial span (15 days for offline and 30 days for online) and receive a refund of your capital put.
5. LIC Jeevan Umang
Among the best LIC plans, LIC Jeeva Umang offers whole-life insurance coverage in addition to the added income benefit and security for your loved ones. Moreover, From the time the premium is paid in full until the policy expires, the plans offer the policyholder yearly survival benefits. Additionally, if the policyholder dies during the policy’s term, the beneficiary will get a death benefit, or the policyholder will receive a single payment as a maturation benefit when the plan expires.
Features of LIC Jeevan Umang
- If the policyholder survives the term of the policy, the policy will provide 8% of the Assured Sum each year as a survival benefit.
- The plan includes 100 years of protection, Thus, it provides full insurance.
- As it provides the loan facility, takes better care of the liquidity needs.
- The plan acts as a retirement pension plan.
- Under the plan, there are numerous premium-paying possibilities.
Benefits of LIC Jeevan Umang
- If the insured passes away before the start of the risk, the entire premium paid up to that point, excluding all the interests, will be reimbursed. Moreover, The final bonus, accumulated bonus, and the Assured Sum are given to the policy’s nominee if the insurer passes away after the start of risk.
- The “Sum Assured on Maturity,” is delivered as a maturity advantage when the insurance reaches maturity.
- It guarantees the survival advantage, which is equal to 8% of the Basic Assured Sum per year up to the policy’s expiration.
- Mode of Payment The payment options available are monthly, yearly, quarterly, and half-yearly.
- Loan Facility Available.
6. LIC New Jeevan Anand
When the insured passes away unexpectedly, LIC New Jeevan Anand offers financial security to the policyholder family. Additionally, LIC New Jeevan Anand offers a maturation bonus to the policyholder if they live out the policy’s whole term. The programs also provide a borrowing facility to handle any short-term financial needs.
Features of LIC New Jeevan Anand
- Financial protection for the family is provided by the plan.
- By providing the lending facility, the policy satisfies the liquidity requirements.
- Customers can receive discounts for making premium payments.
- Refunds on premium payments are also available.
- For an additional premium, the best LIC Investment Plans offer riders sudden death and permanent disability benefits.
- The insured person is entitled to a tax break on their premium payments.
Benefits of LIC New Jeevan Anand
- The best LIC Investment Plans in India 2023 offering a double death benefit in the event of survival.
- A good liquidity feature, a significant bonus rate, and an average premium rate.
- The insured will benefit from receiving a lump sum upon maturity.
- If the insured lives the policy tenure, they will get the following–
Basic Sum Assured + Simple Reversionary Bonus + Final Additional Bonus
|Loan facility available||Available|
7. LIC Bima Ratna
One of the best LIC investment plans in India in 2023, LIC Bima Ratna, delivers rewards regularly to help policyholders accomplish important life milestones while ensuring their survival. In the event of a tragic incident, the death benefit amount is provided to the family. If the insured lives during the entire term, in addition to getting an average retirement payout, they may also be eligible for multiple survival payments at different policy years.
Features of LIC Bima Ratna
- For every Rs.1000 of the basic sum promised, assured increases of up to INR 60 are made to boost your savings.
- If you require immediate cash, you can also take advantage of its loan service.
Benefits of LIC Bima Ratna
- If the life guaranteed lives the duration of the insurance, a maturity bonus is provided to them. 50% of the initial sum promised + assured increases make up the sum.
- The LIC Bima Ratna offers the following riders:
- Premium Waiver Benefit Rider
- Accidental Death and Disability Benefit Rider
- New Critical Illness Benefit Rider
- New Term Assurance Rider
- Accidental Benefit Rider
8. LIC New Children Money Back Plan
The money-back best LIC Investment Plan is a take-part, unlinked plan. LIC new children monkey back plan is specifically made to suit the needs of child rearing via Survival Benefits, including marriage, schooling, and other necessities. Also, You will receive significant protection until the conclusion of the defined period as well as life-risk coverage for your kid. Regular premium payments are accepted in the ECS or SSS modes at intervals of annually, half-yearly, quarterly, or monthly. Whenever, during the policy’s duration, provided that the first three years’ worth of premiums have been received, the procedure may be forfeited.
Features of LIC New Children Money Back Plan
- Following the initial three years of consecutive full monthly premiums, a loan option is offered.
- The policy is in charge of returning money at predetermined time intervals as a survival advantage.
Benefits of LIC New Children Money Back Plan
- If the policyholder passes away before the start of the risk, the nominee will get the Death Benefit amount. However, If the insured person passes away following the start of the risk, the nominee will get the death benefit in the amount of the summation assured plus accrued bonuses, and final additional bonuses will be paid.
- Following the completion of 18 years of age, 20% of the Assured Sum will be reimbursed as a fund transfer at intervals of every 2 years.
- Mode of Payment the premiums paid once a year, half-yearly, quarterly, or monthly.
9. LIC Bima Jyoti Plan
With this Best Investment Plan in India, you can effectively save money in addition to being covered by a policy of life insurance. If you live to the end of the term of Best LIC Investment Plans in India, you will receive a fixed lump sum amount; otherwise, your family will be compensated for your death.
Features of LIC Bima Jyoti Plan
- You have the freedom to select the insurance term and the sum insured.
- After each insurance year, the principal amount is guaranteed to increase as per the Best LIC Investment Plans in India.
- Instead of receiving the death and maturation reward all at once, you can choose to get it in installments.
Benefits LIC Bima Jyoti Plan
- The family of the insurer is eligible to receive both the death benefit and any assured additional benefits, up till the date of your death. If one of the following conditions is met, the death benefit will be paid.
- 125 percent of the Basic Sum Assured.
- Seven times the yearly premium.
- You receive the basic assured sum and the assured additions if you live out the entire policy period.
- Mode of Payment
- 6 months
- 3 months
- Per month
10. LIC Jeevan Lakshya
LIC Jeevan Lakshys is the best conventional savings and accumulation insurance LIC Investment Plan in India in 2023 that offers annualized payments following the insured’s passing to cover his dependants’ expenses. Finally, After the Best LIC Investment Plans in India’s original specified term, the beneficiaries will also get 110% of the coverage amount. Additionally, you can select one of two extra insurance riders offered by the best LIC Investment Plans, namely the Accidental Death & Disability Rider and the New Term Assurance Rider.
Features of LIC Bima Jyoti Plan
- The life insurance obtained in the event of the person’s demise will consist of the following:
Sum assured on death + Vested simple reversionary bonuses + Final additional bonuses.
- The annual income benefit, which is equivalent to 10% of the base sum insured, must be included in death benefits.
- Amount guaranteed in absolute terms that are 110 percent of the base insured
- The policy will benefit from LIC’s profits and occasionally receive additional benefits.
- The incidental and benefit rider from the best investment plan of LIC is an optional rider that can be purchased by paying a little extra fee in addition to the policy premium.
Benefits LIC Bima Jyoti Plan
- There is no upper limit on the best LIC Investment Plan’s minimum basic sum, which is Rs 1,000,000.
- According to the Policy, the age range is 13 to 25.
- The premiums of the best investment plan of LIC may be paid annually, biannually, quarterly, or monthly.
- No matter how long the policy has been in effect, the term for purchasing insurance is 3 years.
In Sum, LIC is the top-rated and most trustworthy insurance provider, providing the best investment plan of LIC. The most profitable LIC plans are among the options available to insurance buyers, depending on their financial needs and capacity to pay. However, carefully read the best LIC Investment Plans in India 2023 from beginning to end. To secure the financial future of your dependents, don’t forget to get insurance.
Best LIC Investment Plans in India – FAQs
Is FD preferable to LIC, or is the opposite true?
Ans. on the other hand the best investments are medium- and short-term fixed deposits. The best investment plan of LIC is intended to serve as a long-term asset. With an FD, you are not risk-insured against an unexpected death. Each choice has particular advantages and qualities. Before choosing one of the two options, one should think about their individual needs.
How is the maturity amount for LIC calculated?
Ans. Basic Sum Assured + Final Additional Bonus + Bonuses.
Which best LIC Investment Plans in India 2023 offer the best investment plan of LIC?
Ans. A variety of insurance products with higher returns are available from LIC. The best LIC Investment Plans in India 2023 are listed below to give you the greatest benefits:
- Jeevan Amar
- New Children’s Money Back Plan
- New Money Back Plan
- New Jeevan Anand Plan
- New Endowment Plan
Is LIC Insurance a wise choice for investments?
Ans. Given that LIC is a govt company protected by the Indian government, investing in one of its products is secure and trustworthy. Section 80C of the Income Tax Act of 1961 allows policyholders to take tax deductions.
Is investing in a LIC Policy a good idea?
Ans. Yes, LIC provides policies for life insurance that are tailored to the specific requirements of its clients. Depending on your risk tolerance and financial objectives, you may want to have a look at a ULIP and otherwise Endowment option if you’re viewing for a life insurance and investing component in a single best LIC Investment Plan.
What advantages do I get from the LIC Tech Term Plan?
Ans. The LIC Tech Term Plan is the best option for people with a tight budget who want investment in a policy of term insurance. This pure-risk best LIC Investment Plan in India 2023 provides life insurance at a reasonably modest special rate in return for comprehensive coverage.