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LIC Best money-back plans: you should apply for this money-back plans know all immediately details here

  1. LIC Jeevan Shiromani Plan

This is a money-back plan for High Net worth Individuals as the plan offers higher levels of sum assured. The USPs include the following

  1. Loyalty additions and guaranteed additions are added to the plan benefits which enhances them
  2. Money-back benefits provide easy liquidity
  3. There is an inbuilt critical illness benefit that covers 15 critical illnesses.
  4. Four additional riders are available for customization
  5. The maturity and death benefits can be taken in instalments

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Name of the LIC Plan
LIC’s Jeevan Lakshya Plan
Type of Plan
Endowment Plan
Whom does the plan suit?
Risk-averse individuals who are looking to create savings along with insurance.
Entry Age
18-50 years
Maximum Maturity Age
65 years
Policy Tenure
13-25 years
Sum Assured
INR 1 lakh onwards
Death Benefit
10% of sum assured paid as annual incomes till second last policy year
+ 110% of basic sum assured on maturity
+ Accrued bonuses
Maturity Benefit
Basic sum assured + accrued bonuses

 

 

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2. LIC’s Jeevan Umang Plan

This is also a money-back policy but with an added benefit of whole life coverage. Here are some of the salient features and benefits of LIC’s Jeevan Umang –

This is a with-profit policy that gives bonuses that help in enhancing the plan benefits
Limited premiums are payable for the plan

  • After the completion of the premium paying tenure, 8% of the sum insured is paid every year till maturity. This gives you the desired liquidity without compromising the lifelong coverage
  • Four optional riders are available for customizing the policy
  • You can enjoy premium discounts if you choose a sum assured of INR 5 lakhs and above or if you pay the premium in the annual or semi-annual mode.

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  1. Name of the LIC Plan
    LIC’s Jeevan Umang Plan
    Type of Plan
    Whole Life Endowment Plan
    Whom does the plan suit?
    Investors looking for lifelong protection while creating a corpus for their financial goals.
    Entry Age
    90 days-55 years
    Maximum Maturity Age
    100 years
    Policy Tenure
    100 years – entry age
    Sum Assured
    INR 2 lakhs onwards
    Death Benefit
    Death within the first 5 years – Sum assured on death
    Death after the first 5 years – the sum assured on death + loyalty additions
    Where,
    Sum assured on death is highest of the following –
    • 10 times the annualized premium
    • Sum assured on maturity
    • 110% of the Basic sum assured
    • 105% of aggregate premiums paid
    A simple reversionary bonus would be added to the death benefit
    Survival benefit
    8% of the sum assured payable after the end of the premium paying term till death or maturity
    Maturity Benefit
    Sum assured on maturity which is equal to the Basic sum assured
    A simple reversionary bonus would also be paid with the maturity benefit

     

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