lic high return policy

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Which is the best LIC policy with highest return?

LIC Plans with Highest Return LIC offers a wide range of life insurance policies designed to provide higher returns. The following plans by LIC provide you with the maximum benefits - Jeevan Amar, New Children’s Money Back Plan, New Endowment Plan, New Money Back Plan- 20 years, and New Jeevan Anand Plan.

What are the benefits of LIC Life insurance policy?

LIC offers a wide range of life insurance policies designed to provide higher returns. The following plans by LIC provide you with the maximum benefits - Jeevan Akshay VI, New Children’s Money Back Plan, New Endowment Plan, New Money Back Plan- 20 years.

What are the features of the LIC policy term plan online?

The enticing features of the LIC policy term plan online make it different from the list of LIC policy plans. Being one of the popular LIC policy plans in 2018, its cover ranges between 18 years to 60 years. The premium amount is required to be paid early and there is no loan available for the plan.

What is the maximum age limit for LIC policy?

Being one of the LIC policy plans with the best return, the age group of the policyholder has to be minimum 18 years. And the maximum age for maturity is 75 years. Acting as one of the LIC policy saving plans, your entire life is protected.

Which policy in LIC is best?

Best LIC Plans List for 2022LIC PoliciesPlan TypePolicy TermLIC Jeevan LabhTraditional savings plan16, 21, or 25 yearsLIC Jeevan UmangWhole Life Insurance100 years minus(-) the age at entryLIC Bima RatnaMoney Back Policy15, 20, or 25 yearsLIC Money Back 25 yearsMoney Back Policy25 years3 more rows

Does LIC give good returns?

The average return on investment for LIC over a period of ten years between 2005-2006 and 2014-2015 has been 6.7%. The average return on a ten-year bond has been 7.9%. The difference between the two returns is 120 basis points. In fact, the average rate of inflation between 2005-2006 and 2014-2015 was 8.85%.

Is there any 5 year LIC plan?

As a pure term protection plan there is no maturity benefit offered by the policy. LIC Term Assurance offers the following plan that start from the policy tenure of 5 years....LIC Saral Jeevan Bima.Eligibility CriteriaMinimumMaximumEntry Age18 years65 yearsMaturity Age-70 yearsPolicy Tenure5 years40 years1 more row

Which policy is best for money back?

Best Money Back Policies in India 2020Money-Back PlansPlan TypeMinimum Sum AssuredSahara Dhan Vriddhi Jeevan BimaTraditional money back planRs. 50,000SBI Life- Smart Money Back GoldSavings plan with life coverageRs. 75,000Shriram Life New Akshay Nidhi PlanTraditional money-back insurance planRs. 1,50,00021 more rows

Is LIC better than FD?

Fixed deposits are best for both short- and medium-term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years.

Is LIC policy waste of money?

Myth 1: Life Insurance Is a Waste Of Money Life insurance is an investment that is more of a safety mechanism; it is to provide financial security to the dependants. Term policies that cover the risk of untimely death are cheap and most ideal for providing life coverage.

Is there any LIC policy for 10 years?

Let's have a look at the available LIC 10-year plans with the facility of single premium payments....Plan parameters of LIC's Single Premium Endowment Plan:Age at entry90 days to 65 yearsTerm of the plan10 years to 25 yearsSum assuredINR 50,000 onwardsSingle premiumDepends on the age, term and sum assured selectedJan 21, 2020

Why LIC premium is high?

The higher commission is because LIC primarily relies on its agency force to distribute policies, whereas many private companies have a large part of their distribution through banks. In bancassurance, or bank-led distribution, a big chunk of the distribution costs is bunched with operating expenses.

Which is best LIC policy for 40 year old?

Top 6 LIC Plans In India 2022LIC PlansType of PlanPolicy Term (in years)LIC Jeevan AmarPure Term Insurance plan10 - 40LIC Tech Term PlanPure Term Insurance plan10 - 40LIC New Children's money-back PlanTraditional money-back Child Plan25 years - Age at EntryLIC New Jeevan AnandEndowment Plan15 - 352 more rows

Which policy is good for investment?

Best Investment Plans in India to Invest in 2022Investment PlansPlan TypePolicy TermHDFC Life Click2investULIP5 - 20 yearsHDFC SL YoungStar Super PremiumUnit-Linked child plan10 - 20 yearsICICI Pru Smart LifeULIP10 - 25 yearsIDBI Federal Smart Growth PlanULIP10, 15,20-25 years16 more rows

What is guaranteed income plan?

Guaranteed income plans provide that certainty. Such life insurance-cum-savings plans guarantee regular payouts and investment benefits. A guaranteed income plan also assures a life cover. It secures your family against financial hardships in case of an eventuality.

How much will I get after maturity LIC?

80% of Maturity Sum Assured if 3 or more years' but less than 4 years' premiums have been paid; 90% of the Maturity Sum Assured, if 4 or more years' but less than 5 years' premiums have been paid and 100% of the Maturity Sum Assured, if 5 or more years' premiums have been paid.

Is LIC policy a good investment?

Benefits of purchasing LIC Policy Government-owned - LIC comes with the sovereign guarantee of the Indian government, which makes its offerings a safe and reliable investment. Tax Benefits - Policyholders can enjoy tax deductions on the premium amount under Section 80C of the Income Tax Act, 1961.

Which is the best investment plan?

Best Investment Plans in India to Invest in 2022Investment PlansPlan TypePolicy TermBajaj Allianz Fortune GainULIP7 - 30 yearsBajaj Allianz Retire RichUnit-Linked pension plan7 - 30 yearsCanara HSBC Smart Monthly Income PlanULIP Plan5 - 30 yearsEdelweiss Tokio Guaranteed Income PlanULIP Plan5-25 years16 more rows

What is maturity benefit?

Maturity benefit: Maturity benefits shall be payable as lump sum and it will include basic sum assured, simple reversionary bonuses, and final additional bonus. Profit participation: The policy shall participate in the profits of LIC and will accrue simple reversionary bonuses from time to time. Surrender value:

What is the death benefit?

Death benefit: The sum assured on death along with simple reversionary bonuses and final additional bonuses shall be provided on death of the policyholder, provided all due premiums have been paid till date of death. The death benefit shall not be less than 105% of all the premiums paid. Maturity benefit:

What happens if life insurance expires?

If the life insured expires before the commencement of risk cover, then a sum equal to the premiums paid which is inclusive of additional premiums and rider premiums shall be payable. But in case the person insured expires after commencement of the risk cover, then the sum assured on death along with simple reversionary bonuses and final additional bonuses shall be paid by LIC. The death benefit in the second case will not be less than 105% of the total premiums paid by the policyholder.

What are the benefits of LIC?

Features of LIC’s Jeevan Amar: 1 The LIC Jeevan Amar plan comes with 2 benefit options: Increasing Sum Assured and Level Sum Assured 2 It is flexible plan which offers the insured to choose from Single Premium Payment, Limited Premium Payment, and Regular Premium Payment. 3 It allows the insured to choose the term of the policy. 4 The insured can opt for the payment of the benefits in instalments. 5 The LIC Jeevan Amar plan offers special rates for women. 6 The LIC Jeevan Amar plan offers benefits of attractive High Sum Assured Rebate. 7 It offers a host of rider plans to enhance the coverage provided by the plan.

What is LIC endowment plan?

It is a participating non-linked endowment plan that provides the prospective buyer an option to choose the sum assured and the premium payment mode. LIC’s New Endowment Plan offers financial protection throughout the policy term and comes with loyalty additions. The sum assured on death depends on the premiums paid and the maturity benefits are based on the policyholder’s age at entry.

What is a Jeevan Amar?

LIC’s Jeevan Amar: The LIC Jeevan Amar plan is a Non-Linked, Non-Participating, Offline Term Assurance Plan which is designed to provide the family of the beneficiary with financial support in the case of his or her death during the period of the policy.

What is a Jeevan Anand policy?

The New Jeevan Anand policy by LIC is a non-linked, individual, participating, life assurance plan that provides the beneficiaries a combination of protection and savings. It does not only offer a financial support against the death of the holder of the policy, it also provides a lumpsum payment at the maturity of the policy in case of the survival of the policyholder. The beneficiaries can also avail loan facilities through this policy.

What is the death benefit of a life insurance plan?

Benefits Of The Plan: Death Benefit: If the policyholder dies before the commencement of risk, the Death Benefit amount should be payable. If the policyholder dies after the commencement of risk, the Death Benefit in the form of Sum Assured + Accrued bonus + Final Additional Bonus shall be payable.

What is LIC Jeevan Amar?

LIC Jeevan Amar was launched in August 2019 by the Life Insurance Corporation of India. 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. The plan is non-participating & non-linked life insurance term plan that provides a variety of options to the customers compared to other insurance companies.

What is LIC money back plan?

LIC New Children's money-back plan is a participating non-linked money-back plan. It is specially designed to meet the marriage, educational, and other requirements of raising children through Survival Benefits. Additionally, you will get a life risk cover for your child and several survival benefits until the end of the specified duration. You can pay regular premiums at yearly, half-yearly, quarterly or monthly through ECS or through SSS modes. If you have paid the premium amount for the initial three years, the policy can be surrendered at any time during the policy tenure.

How long can you opt for a high sum assured?

Benefits Of The Plan: The policyholder can opt for the plan for a policy term of up to 40 years. High Sum Assured is offered under the plan. In case of the unfortunate demise of the policyholder during the policy term, Sum Assured shall be paid as a death benefit.

How long does a death claim last?

Death benefits can be paid in a fixed amount or as installments for (5, 10, and 15) years. Policyholders can select the premium paying term and the policy term.

What is LIC insurance?

LIC is the top-ranking and most trusted insurance company in India. The corporation offers a collection of more than 20 plans according to the different requirements and affordability of an individual. In March 2020, they have launched many policies and will initiate more in the upcoming years.

What is LIC Tech term?

LIC Tech-Term is basically non-linked & pure protection "Online Term Assurance Policy" which offers the required financial assistance to the insured's family in case of his/her unfortunate demise. This plan will be available through an online application process and no intermediaries will be involved.

What shall one Keep in Mind Before Purchasing a Policy?

Buying an insurance plan can be tricky for the clients with the availability of a wide range of options and additional benefits. The basic features, which are essential to look at, and the clients should take into consideration before purchasing a plan or policy is:

What is the Maximum Return in LIC Policies?

Before purchasing a plan, the customers always urge to know what the plan offers first. If a plan gives you additional benefits and features like "Money back Payment" over the sum assured by the insurer, then that plan is giving you a lucrative return. Investing in the right kind of plan can help the customer in getting the highest return.

LIC Plans for Maximum Return

In order to simplify the hassle of choosing a perfect plan for the desired financial coverage, the following are the best LIC policies for the highest return in 2021:

The Bottom Line

These are the most lucrative insurance plans for policy-seekers. In order to purchase a plan with maximum return, one needs to go through the death benefits, maturity benefits, survival benefits, and other additional benefits, which the plan promises to provide.

LIC Jeevan Akshay VI

Jeevan Akshay VI by LIC is a pension plan designed to provide a steady cash inflow for the policyholder. This policy can be purchased for a lumpsum amount. Based on the purchase value of the policy, a periodic annuity payment is made throughout the lifetime of the insured. The returns offered by LIC Jeevan Akshay VI is tremendous.

LIC New Endowment Plan

New Endowment Plan is another high return plan offered by LIC. Like all endowment plans, this policy offers a combination of both protection and savings to the policyholder. This is an ideal insurance policy for an individual to provide financial support for the family after his or her unexpected death.

What is a LIC new endowment plan?

LIC New Endowment Plan is proven to one of the effective LIC policy plans that protect the consumers’ savings in a simple manner. This particular plan is a great help to the consumers at the time of liquidity and the policyholder can opt for surrendering the policy after three years.

What is a LIC e-term plan?

1. LIC e-Term Plan. One of the popular LIC policy plans nowadays is the LIC e-Term plan where people are given full financial protection to the policyholder’s family. Well, in term Insurance plans the sum assured is only given to people on the event of the policyholder’s unfortunate demise. Acting as an online term assurance policy, there is ...

What is the maximum age for a LIC policy?

Being one of the LIC policy plans with the best return, the age group of the policyholder has to be minimum 18 years. And the maximum age for maturity is 75 years.

What is maturity benefit?

Maturity Benefit. In case the life insured survives the entire tenure of the policy, the maturity benefit is paid to the insured as the sum assured on maturity plus vested reversionary bonus and final additional bonus (if any) is paid to the life insured.

What is LIC New Jeevan Anand?

LIC New Jeevan Anand is a non-linked participating plan which offers the combined benefit of protection and savings . The plan provides financial protection to the family of the insured in case of an unfortunate demise of the insured person. Moreover, as one of the best life plans, the LIC new Jeevan Anand also provides the maturity benefit to the insured in case he/she survives the entire tenure of the policy. the plan also takes care of the liquidity need of the family through the loan facility. The following are the features and benefits offered by the policy.

What is the best LIC policy?

As one of the best LIC policies, LIC Jeevan Amar is with profit, a non-linked pure protection plan that offers the flexibility to the policyholder to choose from tow different options of the death benefit. The plan offers comprehensive insurance coverage to the family of the insured in case of any eventuality. The plan secures the financial future of the family and takes care of the future liabilities of the family, even in the absence of the policyholder. Here are the features and benefits offered by the policy.

What is a LIC plan?

This LIC plan is a with profit, non-linked pure protection plan, which provides financial security to the family of the insured in the event of his/her unfortunate demise. The Tech Term LIC plan is available only through the online application process and no intermediaries are involved. The following are the benefits and features of the LIC policy.

What is the sum assured on death?

The sum assured on death is defined as: Higher of 125% of the basic sum assured or. 7 times the annualized premium ; or.

What is LIC Jeeva Umang?

As one of the LIC best plan, LIC Jeeva Umang is a participating, non-linked, individual whole-life insurance plan which offers the combined benefit of income and protection to the family. The plan offers annual survival benefits to the insured from the end of the premium paying term until the maturity of the policy.

How long is the free look period on a LIC policy?

The policy can be surrendered at any time provided the premiums of the policy are dully paid for two full years. A free-look period of 15 days is offered by the policy from the date of LIC plan initiation to cancel the policy if the policyholder is dissatisfied with the terms and conditions of the policy.

What is LIC of India?

LIC of India is an Life Insurance organization run by Government of India. At any point of time an organization run by Government would not cheat anyone. If a pin is sold in place of a knife, you cannot blame the manufacturer for wrong selling.

What is the return rate for LIC?

The general rate of return for maximum LIC Policies are in the range of 4–6% on the other hand one can get more then this under Whole Life Policies. But the main thing is Inflation in India eats up all the Rate of Return in LIC Policies. So it is wise to not to take Insurance as an Investment Option.

Why does the range exist?

The range exists because of the sheer number of policies. Please note that the question itself should be avoided in the first place. LIC is a life insurer - they should sell policies that provide life cover, and only life cover. Mixing insurance and investment is not helpful.

What happens if you surrender a policy?

If the customers surrender the policy in between the term of the policy, the chances are that they will even not get their premium back. The returns are negative if you surrender the policy.

Is LIC an endowment plan?

The fact is that all LIC plans are endowment plans or some version of such plans. These plans lack transparency & you can’t make out where your money is being invested. LIC on the other hand promises that they are giving you guaranteed returns & on top of that, they will provide an additional “bonus”.

Is it wise to take insurance as an investment?

So it is wise to not to take Insurance as an Investment Option. But sufficient Insurance must be only taken to cover up for any unfortunate event in life and for safety and security of the family. One can buy Term Insurance which cost much lesser and provided more cover to the family in case of any unfortunate events.