Best LIC Investment Plans in India 2024

By Okbima 24 Jan 2024
lic-investment-plans

 

LIC Investment Plans are a range of investment options offered by the Life Insurance Corporation of India (LIC). These plans provide individuals with the opportunity to invest their savings in various instruments such as mutual funds, stocks, and bonds, to earn attractive returns. LIC Investment Policies cater to different risk profiles and financial goals of investors, providing them with a secure and reliable investment avenue.

 

Best LIC Investment Plans As Per Highest Returns

The best LIC investment plan in 2024 offers an opportunity for individuals looking to secure their financial future. With a range of flexible options and guaranteed returns, this plan enables investors to grow their wealth over time. 

1. LIC's Jeevan Pragati Plan

The profits option in a non-linked LIC Endowment Plan provides the dual advantage of savings and protection.

Features of this plan:

• The LIC endowment plan automatically increases coverage every five years during the policy term.

• Maturity benefits under the plan include a lump sum payment of the sum assured, vested simple reversionary bonuses, and a final additional bonus, if applicable.

• It offers a substantial death benefit, amounting to the higher of 10 times the annual premium or 100% of the sum assured in the first 5 years, 125% from years 6 to 10, 150% from years 11 to 15, and 200% from year 16 to 20.

• Additionally, the LIC endowment plan provides an optional accidental death and disability benefit rider.

• The policy acquires a surrender value if the premium has been paid for at least 3 years.

• Policyholders are eligible to take out loans against the policy after 3 years, once it has acquired a surrender value.

Eligibility:

 

Term

Minimum

Maximum

Entry Age

12 years

45 years

Maturity Age

No Minimum Entry Age

65 years

Policy Term

12 years

20 years

Sum Assured

Rs.1,50, 000

No limit

Premium Payment Term

Yearly, half-yearly, quarterly or monthly

 

2. LIC's Jeevan Labh

This limited premium payment non-linked Life Insurance Corporation (LIC) endowment plan provides financial assistance to the policyholder's family in the event of their untimely death. Alternatively, it offers a lump sum payment upon maturity of the policy to the insured individual.

Features of this plan:

• The endowment plan from LIC provides policyholders with the opportunity to receive reversionary and final bonuses after the policy term.

• With a limited premium payment option, policyholders are required to pay premiums for only 10 years for a 16-year policy, 15 years for a 21-year coverage, and 16 years for a 25-year plan.

• In the case of the policyholder's demise, the death benefit is calculated as the higher of 10 times the annual premium or the basic sum assured, ensuring that the benefit is not less than 105% of the sum assured.

• Maturity benefits encompass the sum assured, declared reversionary bonuses, and any additional bonuses declared.

• This LIC endowment plan offers two optional riders: accidental death and disability benefit riders, as well as new term assurance riders.

• The company provides a rebate for a high sum assured.

• Policyholders have the option to avail of a loan under the policy after a minimum of 3 years of paid premiums.

 

Eligibility:

Term

Minimum

Maximum

Entry Age

8 years

50-59 years

Maturity Age

18 years

75 years

Policy Term

16 years

25 years

Sum Assured

Rs. 2,00,000

No limit

Premium Payment Term

Yearly, half-yearly, quarterly, monthly

 

3. LIC’s Single Premium Endowment Plan

The LIC endowment plan offers the flexibility to make a one-time payment of the premium at the beginning of the plan.

Features of this plan:

• This LIC endowment plan is a participating policy that earns bonuses through its involvement in the company's profits.

• For children under the age of 8, a deferment period is applicable. The risk cover initiates one day before completing 2 years from the policy commencement or one day before the policy anniversary, coinciding with or following the completion of the child's 8th year.

• If death occurs during the deferment period, the premium paid is refunded. In the event of death after the deferment period, the Sum Assured, vested Simple Reversionary Bonus, and Final Additional Bonus, if any, are disbursed under this LIC endowment plan.

• Upon maturity, the Sum Assured and vested simple reversionary bonus, along with any final additional bonus, are paid out.

• A loan option is available within this LIC endowment plan. Premium rebates are granted for opting for a high Sum Assured of Rs.1 lakh and above.

• Tax benefits apply to the premium payments and claims received. Premiums are exempt from taxation under Section 80C of the Income Tax Act, and claims received are exempt under Section 10(10D) of the Income Tax Act.

 

Eligibility:

Term

Minimum

Maximum

Entry Age

90 days

65 years

Maturity Age

18 years

75 years

Policy Term

10 years

25 years

Sum Assured

Rs.50, 000

No limit

Premium Payment Term

Single Premium

Buy the Best Investment Plans

 

3. LIC’s New Endowment Plan

LIC's New Endowment Plan offers a combination of insurance protection and savings, providing financial security for policyholders and their families

Features of this plan:

• LIC endowment plan provides a death benefit equivalent to the higher of the Sum Assured or 10 times the annual premium, along with vested bonuses and final additional bonuses, if any. The payout is subject to a minimum of 105% of all premiums paid until the time of death.

• Upon maturity, the Sum Assured, vested bonus, and final additional bonus, if applicable, are disbursed under this LIC endowment plan.

• LIC's Accidental Death and Disability Benefit Rider is available, offering the rider Sum Assured in equal monthly installments over 10 years. Additionally, all future premiums are waived if the insured experiences accidental death or disability.

• Policyholders can opt for a loan under this LIC endowment plan.

• Premium rebates are provided if the policyholder opts for yearly or half-yearly premium payments, with discounts of 2% and 1%, respectively.

• Further rebates are granted for selecting a high Sum Assured level of Rs.2 lakh and above in this LIC endowment plan.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act.

 

Eligibility:

Term

Minimum

Maximum

Entry Age

8 years

55 years

Maturity Age

No Minimum Maturity Age

75 years

Policy Term

12 years

35 years

Sum Assured

Rs.1 lakh

No limit

Premium Payment Term

Yearly, half-yearly, quarterly, monthly

 

4. LIC’s New Jeevan Anand

LIC's New Jeevan Anand is a life insurance policy that offers both protection and savings. It provides a lump sum payout on maturity and also covers the individual in case of an unfortunate event.

Features of this plan:

• This LIC endowment plan offers a death benefit exceeding 125% of the Sum Assured or 10 times the annual premium, along with vested bonuses and final additional bonuses, if any. The payout is subject to a minimum of 105% of all premiums paid until the time of death.

• Upon maturity, the Sum Assured, vested bonus, and final additional bonus, if applicable, are paid to the insured.

• LIC’s Accidental Death and Disability Benefit Rider can be opted for, providing the rider Sum Assured in equal monthly installments over 10 years. Additionally, all future premiums are waived if the insured experiences accidental death or disability under this LIC endowment plan.

• Policyholders have the option to avail of a loan under this LIC endowment plan.

• A rebate is offered in premium rates for policyholders who make yearly or half-yearly premium payments, with discounts of 2% and 1%, respectively.

• Further rebates are granted for selecting a high Sum Assured level of Rs.2 lakh and above.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act under this LIC endowment plan.

 

Eligibility

Term

Minimum

Maximum

Entry Age

18 years

50 years

Maturity Age

No Minimum Maturity Age

75 years

Policy Term

15 years

35 years

Sum Assured

Rs.1 lakh

No limit

Premium Payment Term

Yearly, half-yearly, quarterly, monthly

 

5. LIC's Jeevan Rakshak

LIC's Jeevan Rakshak is a traditional protection plan that provides financial security and guarantees a lump sum amount at the end of the policy term to the policyholder.

Features of this plan:

• This LIC endowment plan provides a death benefit equal to the higher of the Sum Assured or 10 times the annual premium, along with vested bonuses and final additional bonuses, if any. The payout is subject to a minimum of 105% of all premiums paid until the time of death.

• Upon maturity, the Sum Assured and Loyalty Additions are paid to the insured under this LIC endowment plan. Loyalty Additions accumulate after the completion of 5 policy years.

• LIC's Accident Benefit Rider can be added by paying an extra premium, offering an additional payout in case of accidental death.

• Policyholders have the option to avail of a loan under this LIC endowment plan.

• A rebate is offered in premium rates for policyholders making yearly or half-yearly premium payments, with discounts of 2% and 1%, respectively.

• Rebates are allowed in premiums for choosing a high Sum Assured level of Rs.1.5 lakhs and above under this LIC endowment plan.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act.
 

Eligibility:

Term

Minimum

Maximum

Entry Age

8 years

55 years

Maturity Age

No Minimum Maturity Age

70 years

Policy Term

10 years

20 years

Sum Assured

Rs.75,000

Rs.2 lakhs

Premium Payment Term

Yearly, half-yearly, quarterly, monthly


 

6. LIC’s Limited Premium Endowment Plan

LIC's Limited Premium Endowment Plan is a unique insurance policy that offers both protection and savings. It has a limited premium payment term and provides a lump sum payment at maturity to cater to various financial goals.

Features of this plan:

• This LIC endowment plan offers a death benefit exceeding 125% of the Sum Assured or 10 times the annual premium, vested bonus, and final additional bonus, if any. The payout is subject to a minimum of 105% of all premiums paid until the time of death.

• Upon maturity, the Sum Assured, vested bonus, and final additional bonus, if applicable, are paid under this LIC endowment plan.

• LIC’s Accidental Death and Disability Benefit Rider and LIC’s New Term Assurance Rider can be added to the LIC endowment plan.

• Policyholders have the option to avail of a loan under this LIC endowment plan.

• A premium rebate is granted to policyholders who choose to pay yearly or half-yearly premiums, with discounts of 2% and 1%, respectively.

• Further rebates are provided in premiums for opting for a high Sum Assured level of Rs.5 lakhs and above.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act under this LIC endowment plan.
 

Eligibility

Term

Minimum

Maximum

Entry Age

18 years

62 years

Maturity Age

No Minimum Maturity Age

75 years

Policy Term

12, 16 or 21 years

Premium Paying Term

8 and 9 years

Sum Assured

Rs.3 lakhs

No limit

Premium Payment Term

Yearly, half-yearly, quarterly, monthly

Buy the Best Investment Plans

 

7. LIC’s Jeevan Lakshya

LIC's Jeevan Lakshya is a life insurance plan that provides financial protection to the family of the policyholder in case of unfortunate events, ensuring a secure future.

Features of this plan:

• The LIC endowment plan provides a death benefit comprising the Sum Assured on death, a vested bonus, and a final additional bonus, subject to a minimum of 105% of all premiums paid until the time of death.

• The Sum Assured on death is the total of 10% of the Sum Assured payable from the policy anniversary following the date of death to the policy anniversary one year before the date of maturity, along with 110% of the Basic Sum Assured.

• Upon maturity, the Sum Assured, vested bonus, and final additional bonus, if any, are paid under this LIC endowment plan.

• LIC’s Accidental Death and Disability Benefit Rider and LIC’s New Term Assurance Rider can be added to this LIC endowment plan.

• Policyholders have the option to avail of a loan under this LIC endowment plan.

• A premium rebate is offered to policyholders who choose to pay yearly or half-yearly premiums, with discounts of 2% and 1%, respectively.

• Rebates are granted in premiums for selecting a high Sum Assured level of Rs.2 lakhs and above.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act under this LIC endowment plan.

 

Eligibility:

Term

Minimum

Maximum

Entry Age

18 years

50 years

Maturity Age

No Minimum Maturity Age

65 years

Policy Term

13 years

25 years

Premium Paying Term

Policy term - 3 years

Sum Assured

Rs.1 lakh

No limit

Premium Payment Term

Yearly, half-yearly, quarterly, monthly

 

8. LIC’s New Money Back Plan 20 years

LIC's New Money Back Plan 20 years is a life insurance policy that offers periodic payouts and financial protection. It provides survival benefits at specified intervals and a lump sum on maturity.

Features of this plan:

• The LIC endowment plan offers a death benefit exceeding 125% of the Sum Assured or 10 times the annual premium, vested bonus, and final additional bonus, subject to a minimum of 105% of all premiums paid until the time of death.

• Survival benefits are provided, with 20% of the Sum Assured paid in the 5th, 10th, and 15th poLICy years of this LIC endowment plan.

• Upon maturity, 40% of the Sum Assured, along with the vested bonus and final additional bonus, if any, is paid.

• LIC’s Accidental Death and Disability Benefit Rider can be added, paying the rider Sum Assured in equal monthly installments over 10 years. Additionally, all future premiums are waived if the insured suffers accidental death or disability.

• Policyholders have the option to avail of a loan under this LIC endowment plan.

• A premium rebate is granted to policyholders choosing to pay yearly or half-yearly premiums, with discounts of 2% and 1%, respectively.

• Further rebates are provided in premiums for opting for a high Sum Assured level of Rs.2 lakhs and above.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act under this LIC endowment plan.



Eligibility:

Term

Minimum

Maximum

Entry Age

13 years

50 years

Maturity Age

No Minimum Maturity Age

70 years

Policy Term

20 years

Premium Paying Term

15 years

Sum Assured

Rs.1 lakh

No limit

Premium Payment Term

Yearly, half-yearly, quarterly, monthly

 

9. LIC’s New Money Back Plan 25 years

LIC's New Money Back Plan 25 years is a life insurance policy offering periodic money-back benefits, financial protection, and a lump sum amount at maturity, ensuring both savings and life coverage.

Features of this plan:

• The LIC endowment plan provides a death benefit exceeding 125% of the Sum Assured or 10 times the annual premium, vested bonus, and final additional bonus, subject to a minimum of 105% of all premiums paid until the time of death.

• Survival benefits are distributed, with 15% of the Sum Assured paid in the 5th, 10th, 15th, and 20th policy years of the LIC endowment plan.

• Upon maturity, 40% of the Sum Assured, along with the vested bonus and final additional bonus, if any, is paid.

• LIC’s Accidental Death and Disability Benefit Rider can be added, paying the rider Sum Assured in equal monthly installments over 10 years. Additionally, all future premiums are waived if the insured suffers accidental death or disability.

• Policyholders have the option to avail of a loan under this LIC endowment plan.

• A premium rebate is granted to policyholders choosing to pay yearly or half-yearly premiums, with discounts of 2% and 1%, respectively.

• Further rebates are provided in premiums for opting for a high Sum Assured level of Rs.2 lakhs and above under the LIC endowment plan.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act if policyholders opt for this 25-year LIC endowment plan.

 

Eligibility:

Term

Minimum

Maximum

Entry Age

13 years

45 years

Maturity Age

No Minimum Maturity Age

70 years

Policy Term

25 years

Premium Paying Term

20 years

Sum Assured

Rs.1 lakh

No limit

Premium Payment Term

Yearly, half-yearly, quarterly, monthly

 

Buy the Best Investment Plans

 

10. LIC’s New BimaBachat

LIC's New Bima Bachat is a non-linked, participating, and savings-oriented life insurance plan. It offers a lump sum amount at maturity, along with a guaranteed addition, providing financial security and savings.

Features of this plan:

• This participating LIC endowment plan offers a death benefit structure where, in the event of death during the first 5 years, the Sum Assured is paid, and after that period, both the Sum Assured and Loyalty Additions are disbursed.

• Survival benefits, amounting to 15% of the Sum Assured, are paid from the 3rd year and subsequently every 3 years throughout the policy term.

• Upon maturity, the single premium and the loyalty additions are paid back under this LIC endowment plan.

• Policyholders have the option to avail of a loan under the plan.

• A rebate is provided for a high Sum Assured, applicable for Sum Assured amounts of Rs.75,000 and above.

• Premiums paid are eligible for tax exemption under Section 80C, and claims received are exempt under Section 10(10D) of the Income Tax Act for individuals choosing this LIC endowment plan.
 

Eligibility:

Term

Minimum

Maximum

Entry Age

15 years

66 years

Maturity Age

No Minimum Maturity Age

75 years

Policy Term

9, 12 or 15 years

Premium Paying Term

20 years

Sum Assured

Rs.35,000

No limit

Premium Payment Term

Single Pay


 

11. LIC’s New Children’s Money Back Plan

LIC's New Children's Money Back Plan is a participating non-linked plan designed to meet the educational, marriage, and other financial needs of a growing child. It provides survival benefits and maturity benefits, ensuring financial support at key stages of the child's life.

Features of this plan:

• This child plan is presented as a money-back LIC endowment plan, participating in the company’s profits and accruing simple reversionary bonuses. 

• The life insured under the plan is the child, and money-back benefits are provided on the policy anniversary following the child attaining 18, 20, and 22 years of age. 

• In the unfortunate event of the child's demise, if the risk has not been initiated, the premiums paid are returned. 

• However, if the risk has commenced, the payout includes the higher of the Sum Assured or 10 times the annual premium, along with the vested bonus and any final additional bonus.

 

Eligibility:

Term

Minimum

Maximum

Entry Age

0 days

12 years

Maturity Age

Policy term + minimum of 5 years

25 years

Policy Term

10, 15, or 21 years

Premium Paying Term

Policy term

Policy term

Sum Assured

Rs.25,000

No limit

Premium Payment Term

Single Pay, Yearly, Half-Yearly, Quarterly, Monthly

 

12. LIC’s Jeevan Tarun

LIC's Jeevan Tarun is a non-linked, participating, and limited premium payment plan designed for the benefit of children. It provides financial protection along with periodic survival benefits and a maturity sum assured, ensuring a secure financial future for the child.

Features of this plan:

• This LIC endowment plan, with the child as the life insured, actively participates in the company’s profits, earning simple reversionary bonuses. 

• The plan provides money-back benefits with four different options. In the unfortunate event of the child's demise, if the risk has not commenced, the premiums paid are returned. 

• However, if the risk has been initiated, the payout includes the higher of 125% of the Sum Assured or 10 times the annual premium, along with the vested bonus and any final additional bonus.

 

Eligibility:

Term

Minimum

Maximum

Entry Age

90 days

12 years

Maturity Age

Policy term + Entry Age

25 years

Policy Term

13, 16, or 19 years (depending on Entry Age)

No Maximum Policy Term 

Premium Paying Term

5 Years

No Premium Paying Term

Sum Assured

Rs.75,000

No limit

Premium Payment Term

Yearly, Half-yearly, Quarterly, Monthly, or Single Pay

Buy the Best Investment Plans

 

Is LIC Better than FD?

Comparing Life Insurance Corporation of India (LIC) and Fixed Deposits (FD) involves identifying different financial products with features and purposes. 

Here are some key points to consider when comparing LIC and FD:

1. Purpose

• LIC: Provides life insurance coverage along with investment benefits. It offers various plans, including endowment policies, term insurance, and unit-linked insurance plans (ULIPs).

• FD: Primarily a savings and investment instrument. It provides a consistent interest rate for a specific duration.

 

2. Risk and Returns:

• LIC: Depending on the type of policy (e.g., traditional or ULIP), returns may be linked to market performance (ULIP) or provide guaranteed returns (traditional plans). There is an element of risk, especially in market-linked plans.

• FD: Generally considered a low-risk investment with guaranteed returns. The interest rate is fixed at the time of deposit.

 

3. Liquidity:

• LIC: Insurance policies often have a lock-in period, and surrendering a policy early may result in a loss. However, some policies offer loan facilities or partial withdrawals.

• FD: While fixed deposits also have a predetermined tenure, they are more liquid than insurance policies. Premature withdrawals may incur a penalty, but the funds can typically be accessed more easily.

 

4. Tax Implications:

• LIC: Premiums paid for life insurance policies are eligible for tax deductions under Section 80C of the Income Tax Act. Maturity proceeds may also be tax-free under Section 10(10D).

• FD: The interest earned on fixed deposits is taxable, and TDS (Tax Deducted at Source) is applicable. However, you can claim deductions under Section 80TTB for interest earned on FDs by senior citizens up to a certain limit.

 

H2: Why LIC is Better than PPF?

Whether the Life Insurance Corporation of India (LIC) is better than the Public Provident Fund (PPF) depends on individual financial goals, preferences, and risk tolerance. 

Here are some points to consider:

1. Purpose

• LIC: Primarily offers life insurance coverage along with an investment component. Different plans cater to various needs, such as protection, savings, and market-linked returns.

• PPF: A long-term savings and investment instrument offered by the government. PPF is designed to provide individuals with a secure and tax-efficient way to build a retirement corpus.

 

2. Risk and Returns

• LIC: Returns on LIC policies may vary based on the type of policy. Traditional policies offer guaranteed returns, while unit-linked insurance plans (ULIPs) are linked to market performance and carry investment risks.

• PPF: Generally considered a low-risk investment with fixed, government-declared interest rates. The returns are usually moderate, and there is no exposure to market risks.

 

3. Liquidity

• LIC: Policies often have a lock-in period, and surrendering a policy prematurely may result in a loss. Some policies offer partial withdrawals or loan facilities.

• PPF: While there is a lock-in period of 15 years, partial withdrawals are allowed from the 7th year onwards. PPF is more flexible in terms of liquidity compared to certain insurance policies.

 

4. Tax Benefits

• LIC: Premiums paid for life insurance policies are eligible for tax deductions under Section 80C of the Income Tax Act. Maturity proceeds may also be tax-free under Section 10(10D).

• PPF: Investments made in PPF are eligible for tax deductions under Section 80C, and the interest earned is tax-free. The maturity amount is also exempt from taxation.

 

Is LIC Better than SIP?

LIC (Life Insurance Corporation) and SIP (Systematic Investment Plan) are different financial products serving different purposes.

1. LIC (Life Insurance Corporation)

• LIC primarily offers life insurance products. These products provide financial protection to the policyholder's family in case of the policyholder's demise during the policy term.

• LIC policies often come with an investment component, where a portion of the premium paid by the policyholder is invested, and the returns are provided either as bonuses or through a maturity amount.

• LIC policies are long-term commitments and may have certain conditions and restrictions.

 

2. SIP (Systematic Investment Plan)

• SIP is a method of investing in mutual funds. It is not a specific financial product but a way to invest in a disciplined and systematic manner.

• Mutual funds combine funds from multiple investors to create a well-diversified investment portfolio, stocks, bonds, and other securities.

• SIP allows investors to contribute a fixed amount regularly (monthly or quarterly) into a mutual fund, promoting financial discipline and potentially benefiting from rupee cost averaging.

 

Why Buy an Investment Plan From Okbima?

Buying an investment plan from Okbima can be a wise decision, and some of the reasons are convenience, transparent information, and comparison of multiple plans.

• Comparison of Multiple Plans: Okbima allows you to compare various life insurance plans from different providers. This helps you to make an informed decision by identifying the features, coverage, and premiums of multiple policies in one place.

• Convenience: Purchasing life insurance through Okbima can be convenient as it offers an online platform. This means you can explore, compare, and purchase policies from the comfort of your home.

• Transparent Information: Okbima provides detailed and transparent information about various insurance plans' terms and conditions, coverage, and exclusions. This transparency can help you to understand what you are getting from your chosen policy.

 

Read More:

  1. Short-Term Investment Plans With High Returns in India

  2. ULIP vs Mutual Fund: Which Is Better In 2024?

  3. Safe Investments with High Returns In India

  4. Top 10 Best Investment Options in India in 2024


 

Conclusion

In conclusion, investing in LIC investment plans can be a wise decision for individuals looking for secure and long-term investment options. LIC offers a variety of investment plans that cater to the needs and preferences of different investors. These plans come with attractive features such as guaranteed returns, tax benefits, and flexibility in premium payments. 

 

FAQ

How can I check the policy status for LIC traditional plans?

To check the policy status for LIC traditional plans, visit the LIC official website, log in to your account, and navigate to the policy details section. Alternatively, contact okbima.

 

What is the policy renewal process for LIC traditional plans?

To renew LIC traditional plans, pay the premium before the due date. You can use online portals, visit LIC branches, or authorize auto-debit facilities. Ensure timely renewal to maintain policy benefits.

 

What is the policy cancellation process for LIC traditional plans?

To cancel a LIC traditional plan, submit a duly filled surrender form at the nearest LIC branch. After necessary verifications, the policy will be canceled, and the applicable surrender value will be provided.

 

Will the plans remain active if I do not pay the premium a few times?

LIC plans may lapse if premiums are unpaid. However, some policies offer a grace period. Contact Okbima to understand the specific terms and conditions of your plan.

 

What happens if I cannot pay the premium for more than 3 years?

The policy may lapse if premiums remain unpaid for more than 3 years. However, certain policies provide revival options. Contact Okbima for guidance.

 

Which is the best LIC investment plan for 10 years?

LIC Jeevan Anand is a popular 10-year investment plan offering both insurance and savings benefits. Contact Okbima to buy the best LIC plan.

 

Which is the best LIC investment plan for 15 years?

LIC Money Back Plan is well-suited for a 15-year investment horizon. It provides periodic returns and insurance coverage. Contact Okbima to buy the best LIC plan.

 

Which is the best LIC investment plan for 5 years?

LIC New Endowment Plan offers a balanced approach for a 5-year investment period. Contact Okbima to buy the best LIC plan.

 

Which is the best LIC investment plan for a girl child?

LIC Kanya Vandana Yojana is designed for the welfare of the girl child. Explore its features, including insurance and savings components, with Okbima experts for a suitable investment.

 

Which is the best LIC investment plan for senior citizens?

LIC Varishtha Pension Bima Yojana caters to senior citizens, providing a pension option. 

 

Which is the best LIC investment plan for 3 years?

LIC Jeevan Labh is a viable option for a 3-year investment horizon, offering insurance coverage and savings. 

 

Is LIC a good investment plan?

Yes, LIC is a good investment plan as it offers various plans suitable for different financial goals. 

 

Is LIC 100% safe?

LIC is a government-backed institution, that provides a high level of financial security. It is considered a 100% safe investment option. 

 

Which is the best LIC plan?

The best LIC plans are the Jeevan Umang Plan, Jeevan Labh Plan, and Jeevan Tarun Plan.

 

Which LIC policy is more profitable?

LIC Jeevan Anand Plan is more profitable as it offers the double benefit of savings and protection.

 

Is Jeevan Umang a good plan?

LIC Jeevan Umang, with its guaranteed returns and extended coverage, is considered a good plan. Contact Okbima to buy the best LIC plan.

 

Which LIC plan gives 8% fixed return?

LIC Jeevan Umang Plan offers an 8% fixed return. Contact Okbima to buy the best LIC plan.

 

Is LIC safe now in 2024?

LIC's financial stability makes it a secure investment choice. Contact Okbima to buy the best LIC plan.

 

Which is the best LIC monthly investment plan?

LIC's Monthly Income Plan is designed for regular payouts. Contact Okbima to buy the best LIC monthly investment plan.

 

Which is the best LIC one-time investment plan for 5 years?

LIC Single Premium Endowment Plan is suitable for a one-time investment over 5 years. Contact Okbima to buy the best LIC plan.

 

Which is the best LIC investment plan for the short term?

For short-term goals, the LIC New Endowment Plan offers a balanced approach. Contact Okbima to buy the best LIC plan.

 

Which is the best LIC long-term investment plan?

LIC Jeevan Saral is a long-term investment plan offering flexibility. Contact Okbima to buy the best LIC plan.

Leave a Reply