This is a quick LIC plan with simple terms and conditions. This plan provides tax benefits on the premium paid and the final amount will be paid with these benefits to the nominee. This plan will offer loan after a period based on the premium you choose

Benefits Of LIC Term Insurance Plan:

The following are the benefits of LIC term assurance plan

• This insurance serves for different aged people from 18 years to 75 years
• This plan provides flexibility in the mode of payments and even in the payments of the premium schedule
• It claims a settlement ratio of 98%

Types of LIC Term Plans:

There are five different types of LIC plans are available as

1. LIC e-term
2. LIC Amulya Jeevan-II
3. LIC Anmol Jeevan-I
4. LIC Bhagya Lakshmi
5. LIC New Jeevan Mangal

1. LIC e-term Plan Details:

This is a regular non-practicing online term assurance plan that provides financial protection to your family. To be a member of this plan you should be an Indian citizen with at least 18 years of age and a maximum of 60 years. The tenure period of this plan is 10 years the premium needs to be paid annually

Features of LIC e-term:

• The minimum entry age for this scheme is 18 years and the maximum age is 60 years.
• The minimum validity of the plan is 10 years and the maximum validity is 35 years
• The minimum amount that needs to be assured is 25 lakhs and for non-smokers, the amount that needs to be insured is 50 lakhs there is no limit over the maximum amount that needs to be insured.
• The policyholder can cover up to 1 lakh to 25 lakh
• The policy can be renewed within 2 years if it has lapsed

1. LIC Amulya Jeevan II Plan Details:

This is a protection plan that is ideal for members who have certain wealth, accustomed lifestyle.   

Eligibility Criteria For LIC Amulya Jeevan II Plan:

• The minimum entry age for this plan is 18 years and the maximum entry time for this plan is 60 years
• The minimum amount that needs to be assured is 25 lakhs
• The maturity time for this plan is 70 years

Features OF LIC Amulya Jeevan II

• There are two modes of policy terms as 5 years and 35 years
• There will be a grace period of one month to the policyholders for the payment of the premiums
• There are two modes for the policy payments as half-yearly and yearly
• In case of death of policyholder death, the benefit will be issued
• The income tax act of the country provides tax benefits on premium paid

1. LIC Anmol Jeevan Plan Details:

Anmol Jeevan II from LIC is a plan which is designed for the financial protection of the insured person in any unfortunate case.

Eligibility Criteria For LIC Anmol Jeevan Plan:

• The minimum entry of age to this scheme is 18 years and the maximum entry age of this scheme is 55 years
• The maximum amount that can be insured is 6 lakhs and there is no limit over the maximum amount

Features Of LIC Anmol Jeevan II

• There is flexible in policy terms ranges from 5 years to 25 years
• The premiums can be paid in different modes as half-yearly and yearly
• The grace period for the policyholder is 1 month for paying the premium payments

1. LIC Bhagya Lakshmi Plan Details:

This is a non-participating payment plan that provides 110% of the premiums paid on the maturity plan

Features Of LIC Bhagya Lakshmi

• The minimum amount that can be assured is 20,000 and the maximum amount is 50,000
• This plan provides different payment modes as a monthly, quarterly, half-yearly, yearly, single payment
• There is a grace period of 60 days from the due date
• The minimum premium paying term is 5 years and the maximum premium paying term is 13 years
• The policy term is 2 years and the maximum policy term is 7 years and the maximum policy is 15 years
• The minimum eligible age is 18 years and the maximum age limit is 55 years
• The maturity period of the plan is 65 years

Benefits Of LIC Bhagya Lakshmi Plan

• In case of death of the life insured the nominee will b assured with the death benefit that equals to the sum assured
• A maturity benefit of 101% of the premium is assured if the insured survives the end of the policy term

1. LIC New Jeevan Mangal Plan Details:

A new Jeevan is designed for individuals

Features Of LIC Jeevan Mangal

• The policy has premium modes ranging from 1-15 years and 5-10 years
• The payments can be done based on monthly, quarterly, half-yearly, yearly
• There are two premium plans as a single premium plan and regular premium plan

Benefits Of LIC New Jeevan Mangal Plan:

• A maturity benefit with all the premium paid will be issued after the period on the survival of the insured person
• A death benefit will be paid to the nominee of a policyholder in case of their death.
• An accidental benefit will be issued to the nominee in case of death of policyholder due to an accident
• Tax benefits will be paid on the premiums after the pay-out received on the maturity/ death

Social security schemes are controlled by the government to be beneficial for members of non-government sector communities.

There are three schemes under the social security schemes as

1. Pradhan Mantri Jeevan Jyoti Bima yojana
2. Pradhan mantra Suraksha bima yojana
3. Atal pension yojana for the age pension

These schemes are made available for the people who met with the eligibility criteria and had a valid bank account.

1. Pradhan Mantri Jeevan Jyoti Bima Yojana:

Pradhan Mantri Jeevan Jyothi Bheema Yojana is a scheme that is offered for one year. The insurance policy needs to be renewed annually. There are more than 5.35 crore people who are enrolled in this scheme.

How To Enroll For Pradhan Mantri Jeevan Jyoti Bima Yojana:

To enroll under this scheme the procedure is as given below

• All the members can enroll in this plan through LIC and some private banks accept this approach

Features Of Pradhan Mantri Jeevan Jyoti Bima Yojana:

The features of the pradhan mantra Jeevan Jyothi Bheema Yojana is as given below

• A life cover with a premium of Rs 330 is available which provides 2 lakhs as the premium
• An insurance premium of Rs289 per annum is available for annum
• Risk cover is provided under this scheme after 45 days of enrolment

Eligibility Criteria Of Pradhan Mantri Jeevan Jyoti Bima Yojana:

The eligibility criteria for Pradhan Mantri Jeevan Jyoti Bima Yojana is as given below

• The minimum age entry to the scheme is 18 years and the maximum age is 50 years

How To Claim For Settlement:

The following is the procedure that needs to be followed by the nominee

• The nominee has to approach the bank with a death certificate of the insured person where they had PMJJY plan covered in the savings account
• The nominee needs to collect discharge receipt that is provided by the bank with insurance company branches, hospitals
• Finally, all the bank account details where the insured person had a savings account under PMJJY scheme need to be submitted by the nominee

1. Pradhan Mantra Suraksha Bima Yojana:

This is a bema yojana that is announced by the government of India as one of the social security schemes. This is a social security scheme that offers an annual accidental death and disability cover

Features Of Pradhan Mantri Suraksha Bima Yojana:

• A risk coverage policy of 2 lakhs is provided for accidental death
• The risk coverage of 1 lakh is provided for permanent disability
• This scheme needs to be renewed annually

Eligibility Criteria Of Pradhan Mantri Suraksha Bima Yojana:

The eligibility criteria of Pradhan Mantri Suraksha bima yojana is as given below

• The minimum age eligibility for the scheme is 18 years
• The maximum age eligibility of the scheme is 70 years
• NRI’s are also allowed to join this plan but the claim settlement will be done to the nominee in the Indian currency

How To Claim For Death Insurance:

The following is the procedure that needs to be followed by the nominee to claim for death insurance

• In the case of death, the insured person the death insurance claim will be credited in the insured person bank account where he had a PMSBY account
• PMSBY will cover the death insurance only in the cases as accidents happened on the road, rail, vehicles or any crime and they should be reported to the police
• PMSBY will also cover the accidental events as a snake bite, fall from the tree. The record containing immediate treatment in the hospital need to be provided.

1. Atal pension yojana for age pension:

Atal pension yojana is a social security scheme that is introduced in the year of 2015 which is started with a motto of providing income security to the old age people.

Eligibility Criteria Of Atal Pension Yojana:

• The minimum entry age for Atal pension yojana is 18 years and the maximum entry age for this scheme is 40 years
• The monthly pensions that are minimum are 1000 and the maximum pension that is issued is 5000 based on the premiums that are chosen by the policyholder
• The pensions will be issued from the age of 60 years
• All the scheme holders should provide their Aadhaar number to be done with KYC

Features Of Atal Pension Yojana:

The features of Atal pension yojana are as given below

• All the citizens of India who are not from the government, the central government can register for this scheme.
• If you discontinue the payments to the scheme after 6 months your account will be frozen, after 12 months your account will be deactivated, after 24 months your account will be closed
• The delayed amount will be charged on the insured person as Rs1 per month to Rs100 per month, an amount of Rs2 per month to Rs101 to 500 per month, Rs 5 per month the delayed amount that needs to be paid is Rs501 to Rs 1000 per month If its Rs10 per month the delayed amount that needs to be paid is 1001 per month.
• In case of death of scheme  holder then the pension will be provided to the spouse or legal heir

Insurance plans that provide income after retirement are called as pension plans. Life Insurance Corporation of India is one of the trusted life insurers in the sector of insurance. This company has more than 250 million people who are using the policies of the LIC.

Advantages Of LIC Pension Plans:

The following are the advantages that are associated with the LIC pension plan as

• A regular income plan will be issued to the insured family after the LIC pension plan term
• The money will be deposited in your account as there is so need to hurry.
• The pensions of LIC plans offer payments for a lifetime.
• Most of the LIC pension plans are the payments for life as these plans provide annuity that can be paid at different uniform rates until the survival of the policyholder.
• All the policyholder and his family receive income after the completion of the policy term. The LIC pension plans offer death benefits to the policyholder family.
• The amount will be deposit into your account on the date that you specified there is no hassle about the income
• All the payouts under LIC are guaranteed

Types Of LIC Plans:

The following are the different types of LIC plans that are offered by Life Insurance Corporation

1. LIC Jeevan Akshay VI
2. Jeevan shanty
3. New Jeevan Nidhi
4. Pradhan mantra Vaya Vandana Yojana

The following table defines the LIC pension plans

1. LIC Jeevan Akshay VI:

This is a policy that annuity payment can be done by payment of a lump sum amount throughout the lifetime of the policyholder. Different types of annuity under LIC Jeevan Akshay VI Plan is as given below

• The pension can be paid at a uniform rate for the life
• The annuity is payable for 5,10,15,20 years
• The annuity that is paid for a lifetime is increased by 3%
• In case of death of policyholder with a provision of 50% is paid to the spouse in their lifetime
• In case of death of policyholder with a provision of 100% is paid to the spouse in their lifetime

Eligibility Criteria Of LIC Jeevan Akshay plan:

The following is the eligibility criteria for the Jeevan Akshay plan

• The minimum entry age for the LIC Jeevan Akshay plan is 30 years and the maximum entry age for the plan is 85 years
• The minimum amount that should be insured is 1 lakh and there is no limit over the maximum amount insured
• There are different modes of payments as monthly, quarterly, half-yearly, yearly

Advantages Of LIC Jeevan Akshay Plan

• A maturity benefit will be issued under this plan
• Death benefits will also be available under the schemes that you choose
• Under 80CCC of the income tax act, the premium paid is exempted
• Pension plans will perform a medical test if you want to choose annuity payout as per the frequency after making the payments

1. Jeevan Shanti:

In this premium plan, there is an option for the policyholder to choose the intermediate or deferred annuity. This plan enables the policyholder to make a single payment and earn income for a lifetime. This loan can be taken after completion of one year of the policy, the policy will be returned within 15 days if the policyholder is not satisfied with the terms and conditions of the plan

Eligibility Criteria For LIC Jeevan Shanti Plan:

The eligibility criteria of the Jeevan shanty plan is as given below

• The minimum entry age for the LIC Jeevan Shanti plan is 30 years and the maximum entry age for the plan is 79, 100 years
• The minimum amount that should be insured is 1.5 lakhs and there is no limit over the maximum amount insured
• There are different modes of payments that can be an immediate annuity or deferred payment

1. LIC New Jeevan Nidhi:

LIC New Jeevan Nidhi provides a death benefit and also annuity on the survival till the death of the policyholder

Eligibility Criteria For LIC New Jeevan Nidhi Plan:

• The minimum entry age for the LIC Jeevan Akshay plan is 20 years and the maximum entry age for the plan is 60 years
• The minimum amount that should be insured is 1 lakh and there is no limit over the maximum amount insured
• The maturity period of the scheme is 5 years and the maximum tenure period is 35 years
• There are different modes of payments as monthly, quarterly, half-yearly, yearly

1. Pradhana Mantri Vaya Vandana yojana

This premium plan is applicable for the senior citizens who are above 60 years. All the senior citizens are guaranteed with 8% returns after ten years

Eligibility Criteria For Pradhana Mantri Vaya Vandana Yojana:

• The minimum entry age for the Pradhana Mantri Vaya Vandana Yojana plan is 60 years and there is no limit over the maximum entry
• The minimum amount that should be insured is 15 lakh and there is no limit over the maximum amount insured
• There are different modes of payments as monthly, quarterly, half-yearly, yearly

Benefits Of Pradhan Mantri Vaya Vandana Yojana:

The following are the benefits that are associated with the pradhan Mantri Vaya Vandana yojana

• A death benefit will be insured to the policyholder in case of death of the policyholder within 10 years tenure of the policy
• The maturity benefit is also available with the final pension installment that needs to be returned by the policyholder on their survival
• The surrender value will be paid under the conditions of medical treatment of the policyholder or spouse the amount that needs to be paid will be 98% of the purchase price
• After the completion of the policy term for 3 years, there is a facility to take a loan. The loan that is issued is 75% of the policy price
• Under section 80C of the income tax act, 1961 the deposit made under this scheme can be exhausted

The new money back is a plan for 20 years. This is a new plan that includes payments and bonus facilities with a tenure period of 20 years that includes maturity benefits. In this money back plan the insured amount will be given in small regular intervals. The nominee will get the entire sum assured and benefits even in the case of the death of the insured person.

Documents Required For LIC Money Back Plan:

The following are the documents that need to be submitted for a LIC money back plan

1. An income proof certificate as salary slips, bank statements, income tax returns
2. Address proof as driving license, Aadhar card, voter id, passport
3. Aadhar card or pan card as the proof of ID needs to be submitted
4. An age proof needs to be submitted as Aadhar card or voter id

Features Of LIC Money Back Plan:

The features of the LIC money back plan is as given below

• This is a traditional LIC plan that continues for 20 years, the premium needs to be paid for 15 years
• In the 5^th year, 10^th year, 15^th year, if the life insured, is alive an amount of 20% is paid as the survival benefits and can continue the plan.
• A death benefit to the nominee with the insured amount including bonus will be assured if the life insured dies within the policy tenure
• There are low-risk options that provide insurance coverage

Salient Features Of LIC Money Back Plan:

The money-back plan means the money will be returned as a survival benefit

1. Income can be taken during the lifetime of money back plan:

If you need the money, in any case, you can take the money back for your usage.

2. Income after the maturity of money back plan:

In case of the death of the policyholder, this money back policy will help you as it covers life insurance and provides definite results.

3. Income after the death of the insured person:

In case of the death of the policyholder, the nominee will get the bonus and sum assured. This policy will act as the standard life insurance plan even in your absence.

The following table represents the LIC money back plan

Benefits Of LIC Money Back Policy:

The following are the benefits that are awarded by the LIC money bank policy. The list of benefits is as given below

• The policy provides financial aids and bonuses
• A survival benefit of 20% is paid to the policyholder and the policy continues

1. The amount that needs to be paid on 5^th year of the policy
2. The amount that needs to be paid on 10^th year of the policy
3. The amount that needs to be paid on 15^th year of the policy

• A maturity benefit will be assured at the end of the policy, 40% of the basic sum assured with bonuses will be paid to the policyholder after the tenure period
• A death benefit will be insured with the policy tenure will include the sum assured on death, bonuses payable to the nominee as survival benefit. The sum insured on the death is given as

1. A basic amount of sum assured .125% as chosen in the policy
2. An annual premium of 10 times will be paid
3. The minimum amount of 105% is paid on the date of death
4. An additional rider can be added on accidental death and disability benefit rider
5. There are two payment methods available as half-yearly premium and yearly premium
6. An income tax benefit on the premium according to the section 80C
7. In case of accidental death, a benefit to the sum assured will be paid to the nominee.
8. In case of permanent disability of the nominee due to an accident, an amount that equates to the accident benefit will be provided within 10 days will be issued.
9. A simple reversionary bonus is paid on per thousand sums assured at the end of the policy year. A simple reversionary bonus is insured as a death benefit or at the end of the policy term
10. If the money-back plan is run for a minimum period the nominee will be insured with additional bonus

The LIC group plans are beneficial for members of an organization. This plan offers financial security to the members of the organization. Death insurance will be issued to the group members or dependents in case of death of the nominee

Features That Are Offered By LIC Group Plan

The features that are offered by LIC group plan are as given below

• Financial security will be provided to the group members in case of death of the insured person
• All the LIC plans are available in the affordable premium prices
• The settlement process under this scheme is faster

LIC Groups plans have different types of insurance plans as

1. LIC group credit life insurance
2. LIC single premium group insurance
3. LIC new group leave encashment plan
4. LIC new group superannuation cash accumulation plan
5. LIC new one-year renewable group term assurance plan I
6. LIC new one-year renewable group term assurance plan II
7. LIC new group gratuity cash accumulation plan

The following table defines different types of LIC group insurance plans:

1. LIC Group Credit Life Insurance:

Under this scheme, the group members are offered with the death cover in case of death of the policyholder during the term period.

Features Of LIC Group Credit Life Insurance:

The features of the LIC group credit life insurance is as given below

• In case of death or nominee at any unfortunate case, the death benefit will be issued to the family members of the nominee
• An insurance cover will be issued based on the loan amount, rate of interest, nature of the loan, the sum assured for the member

Eligibility criteria of LIC Group Credit Life Insurance:

The eligibility criteria of the LIC group credit life insurance is as given below

• The minimum entry age to enable this scheme is 18 years and the maximum age that is allowed is 60 years
• The minimum amount that can be insured is 4 lakhs and there is no limit over the maximum amount
• The policy term of the plan ranges from 5-35 years
• The minimum group size of the plan can be 50 members
• This group credit scheme consists of all the tax benefits
• The policyholder has the right to submit the policy at any time

2. LIC Single Premium Group Insurance:

This is a group plan that is apt for the employee for their employees as this is a non-participating and non-linked premium group term insurance.

Features Of LIC Single Premium Group Insurance:

The following are the features of the LIC single premium group insurance is as given below

• Death benefits will be insured to the family members in case of the death of the policyholder
• It provides all the tax benefits
• A master policyholder can surrender the policy all the time
• Under this policy, the premium needs to be paid as lump sum amount at once
• The policyholder can leave the policy whenever he wants

Eligibility Of LIC Single Premium Group Insurance:

The following is the eligibility criteria for LIC single premium group insurance plan

• The minimum entry age for the single premium group insurance is 18 years and the maximum entry age is 60 years
• The minimum amount that can be insured is 5000 and the maximum amount that can be insured is 10 lakhs
• The policy term of the premium plan ranges from 2-7 years
• The minimum size of the group can be 50 members

3. LIC New Group Leave Encashment Plan:

This is a non-participating insurance plan that provides leave encashment facility for the employees. This plan offers life cover insurance

Features of LIC New Group Leave Encashment Plan I:

The features that are offered in the encashment plan are as given below

• In case of death of insured person dies, the benefit will be insured if it happened in the term period
• All the tax benefits will be issued at the time of retiring
• The policy renewal can be done annually

Eligibility Criteria Of LIC New Group Leave Encashment Plan I:

The eligibility for the scheme of LIC new group leave encashment plan is

• The minimum entry age for this scheme is 18 years and the maximum limit of the scheme is 75 years
• The minimum amount that can be insured is 1 lakh and there is no limit over the maximum amount that can be credited
• Minimum of 10 members are required for this group

4. LIC’s New Group Superannuation Cash Accumulation Plan :

This plan is a non-linked and non-participating group plan that is ideal for trusts

Features Of LIC’s New Group Superannuation Cash Accumulation Plan:

The following are the features of this plan. The list is as given below

• The family members will be insured with the financial insurance
• The premium rates will be based on the size of the group
• In case of death of nominee, the death benefits will be insured to the members of the group

Eligibility Criteria Of LIC’s New Group Superannuation Cash Accumulation Plan :

The following is the eligibility criteria for this plan. The list is as given below

• The minimum entry age for this scheme is 8 years and the maximum entry age for this scheme is 75 years
• The minimum sum that can be insured is 1000 and there is no limit over the maximum amount that can be insured
• The group size for the employees is 25 members and for non-employees, the group size should be 50 members

5. LIC new one-year renewable group term assurance plan I:

This is a non participating and non linked group. This is offered for the homogenous groups and employees

Features Of LIC new one-year renewable group term assurance plan I:

     The features of the plan are as given below

• Financial security to the family members of the nominee will be provided
• The premium rates will be based on the size of the group
• In case of death of nominee, the death benefits will be insured to the members of the group

Eligibility Criteria Of LIC new one-year renewable group term assurance plan I:

The following is the eligibility criteria for this plan. The list is as given below

• The minimum entry age for this scheme is 8 years and the maximum entry age for this scheme is 75 years
• The minimum sum that can be insured is 1000 and there is no limit over the maximum amount that can be insured
• The group size for the employees is 25 members and for non-employees, the group size should be 50 members

6. LIC new one-year renewable group term assurance plan II:

This plan is a non-linked and non-participating group plan

Features Of LIC’s New Group Superannuation Cash Accumulation Plan II:

The features of LIC new group superannuation cash accumulation plan are as given below

• This plan can be renewed annually and financial stability will be ensured
• For the members of the homogenous group, the employees will be offered life cover
• Based on the size of the group and the risk of the group premium rates will be decided
• In case of death of the insured person in an unfortunate incident, a death benefit will be insured

Eligibility Criteria Of LIC’s New Group Superannuation Cash Accumulation Plan II:

The eligibility criteria of the plan are as given below

• The minimum entry age for this scheme is 8 years and the maximum entry age for this scheme is 75 years
• The minimum sum that can be insured is 1000 and there is no limit over the maximum amount that can be insured
• The group size for the employees is 25 members and for non-employees, the group size should be 50 members

7. LIC new group gratuity cash accumulation plan

This is a non-participating and non-linked plan which helps the employees.

Features Of LIC new group gratuity cash accumulation plan

The features of LIC new group gratuity cash accumulation plan is given as below

• The death benefit will be issued to the nominee if it happened in the term of the service
• All the benefits are paid on retirement while leaving your service
• The LIC new group gratitude policy can be renewed annually
• The policy needs to be renewed annually
• The policy can be submitted by the policyholder with a notice before 3 months

Eligibility Criteria of LIC new group gratuity cash        accumulation plan

The eligibility criteria of the plan are as given below

• The minimum entry age for this scheme is 18 years and the maximum entry age for this scheme is 75 years
• The minimum sum that can be insured is 1 lakh and there is no limit over the maximum amount that can be insured
• The minimum group size of the employees is 10 members

This insurance plan is assured for the policyholder after his/her death. The beneficiaries/ nominees will receive the death benefit. An endowment plan states that a single payment will be made to the insurance holder if he/she survives until the maturity period. LIC offers a wide range of insurance plans that fulfills the financial aid of every individual.

Features Of LIC Endowment Plan:

The features that are offered in the LIC endowment plans are as given below

• The payment to the endowment plan can be done on nominee survival or death that is occurred at the term period
• The endowment policy is available in two plans as with profit and without profit
• The bonus in the endowment plan is payable at the date of maturity or even after the occurrence of death of nominee in the maturity period
• The endowment plan can be paid as a single payment or the endowment plan can be set to a shorter period
• The tenure period for endowment plan can be extended as long as you want

Documents Required For Endowment Plan:

The following are the list of documents that are required to apply for the endowment plan. The basic documents that are required are  

• An application form that is filled with the mandatory fields
• A passport size photograph
• An address proof that consists of the nominee name
• Proof of age
• If any medical proofs are mentioned to submit then medical proofs need to be submitted

Benefits Of Endowment Plan:

The following are the list of benefits that you will be benefited with the endowment plan

• An endowment plan will provide the insurance in the term period and a single payment will be done to the nominee after the maturity period
• Endowment plan works as the long term investment with high returns including tax benefits
• The endowment plan is safe when compared to other mutual funds.
• The policyholders can add the additional riders which will provide cover for a specific illness, critical illness, disabilities
• The endowment plan will protect and assist in developing investments which help to save your money

Types Of Endowment Plans:

There are three different types of endowment plans are present as

A Table Representing The list Of Endowment Plans:

1. Single premium endowment plan:

This plan doesn’t have any limits on the sum of the amount that is assured. The entry age to start this plan is 90 days and the people up to 65 years can start an endowment plan. The single premium plan provides death benefits and maturity benefits.

Features Of Single Premium Endowment Plan:

• The minimum amount that can be insured is 50000 and there are limits over the maximum amount in this plan
• The endowment plans will maturity benefits. This policy can also be used to secure a loan
• The period that we can choose for this endowment plan ranges from 10 to 25 years
• The entry age to start this plan is 90 days and the people up to 65 years can start an endowment plan

2. New endowment plan:

Some advanced features are included in this endowment plan. The minimum age entry for this plan is 8 years and the maximum age limit is 55 years.

Features Of New Endowment Plan:

• The maximum amount that needs to be invested is 1 lakh and there is no limit on the sum assured
• The plan tenure period is available in two modes as 12 years and 35 years
• The amount can be paid monthly, quarterly, half-yearly, yearly

3. New Jeevan Anand plan:

This is an insurance plan that will provide life protection to the whole family
Features Of Jeevan Anand plan:

• The minimum age entry for this policy is 15 years and the maximum age limit is 50 years
• There are two different tenure periods as 15 years, 35 years
• The policy can be extended up to 75 years
• The new Jeevan Jyothi plan will be enhanced by using accidental death, disability rider.

4. Jeevan Rakshak:

The Jeevan Rakshak plan is similar to the Jeevan Lakshya plan

Features Of Jeevan Rakshak Plan:

• The policy doesn’t have any limits over the sum assured
• This plan offers a reversionary, bonus after the maturity of the policy
• The policy will issue the death benefits of 105% in the premium paid
• A discount of 2% will be available on the premium plan if they are paid every year in an annual mode

5. Limited Premium Endowment Plan:

The amount that can be insured in this plan is 3 lakhs and there is no limit on the maximum amount. The policy tenure is available in different modes as 12 years, 16 years, 21 years.
Features Of Limited Premium Endowment Plan:

• The minimum amount that should be invested is 3 lakhs and there is no limit over the maximum sum
• There are three modes of policies available as 12 years, 16 years, 21 years
• The premium term is either 8 years or 9 years and this plan offers death benefits and maturity benefits

6. Jeevan Lakshya: .

This is an endowment plan that will assure the financial support to a child to accomplish their dreams. In this plan, the beneficiary child will be assured by the total amount in the case of parent demise
Features Of Jeevan Lakshya:

• The minimum amount that should be insured is 1 lakh and there is no limit over the maximum amount
• The tenure period for this policy is 13 years and 25 years
• The premium can be paid monthly, annually, half-yearly, quarterly
• A discount of 2% will be available on the premium plan if they are paid every year in an annual mode and 1% will be available half-year mode

7. New endowment plus plan

The endowment plus is a plan that invests the policyholder money in debt and there will be guaranteed in returns

Features Of New endowment plus plan:

• The minimum insured amount should be 20,000 and there is no limit over the maximum amount
• The policy tenure is in two modes as 10 years and 20 years
• There is an option available to change from one fund to other

8. LIC Jeevan Pragati Plan

This plan is also called a with-profits endowment plan that provides additional benefits.

Features Of Jeevan Pragati Plan:

• After every five years, the amount that is invested will be increased to 25% even in the case of death the sum assured will be paid
• An optional rider can be added to the plan. The premium paid and benefits received will earn the tax reliefs.

9. LIC Jeevan Labh Plan

This is an endowment plan that provides the loan in the policy tenure if the policyholder wants funds for financial emergencies.

Features Of Jeevan Labh Plan:

• There is a chance to add two additional riders in the plan
• A simple bonus is paid through the term of the plan. A final bonus will be paid with maturity or death benefit.

10. Aadhar Shila Plan

This endowment plan is offered for the females who had a valid aadhar card.

Features Of Aadhar Shila Plan:

• Loyalty additions will be paid after the death or maturity of the premium if the first five years are paid
• The minimum amount should be less than 3 lakhs, the maximum amount that should be assured is 3 lakhs

11. LIC Aadhar Stambh Plan

This is a plan that is open for the males who have a valid aadhar card.

Features Of Aadhar Stambh Plan:

• The term policy of the Aadhar stambh plan offers two different modes as 10 years and 20 years
• The minimum amount that can be assured is 75000 and the maximum amount that can be assured is 3 lakhs
• A loyalty addition can be made if the policy in force for five years