Combo of investment and security: If you invest in these 5 best saving schemes of LIC, then consider your life set..
Whenever there is talk of safe investment and insurance in India, the name of LIC comes first. For decades, people have considered it not just as insurance but as a strong means of saving and investment. Especially in the current era, when there is more instability in the market and the demand for guaranteed returns has increased, LIC's traditional savings schemes are once again becoming the first choice of investors.
1. LIC Jeevan Umang
LIC's Jeevan Umang plan is for those who want lifetime coverage with a pension-like income flow.
It provides insurance cover for life (up to 100 years).
After the completion of the premium payment period, 8% survival benefit starts getting paid every year.
On the death of the policyholder, the family gets a lump sum amount.
The benefits increase further by adding a bonus.
It is considered good for those who want a regular income and family protection in the future.
2. LIC New Jeevan Anand
This is one of the most popular and continuously selling policies of LIC.
On maturity, you get a lump sum amount along with the sum assured and bonus.
The special thing is that even after maturity, the insurance cover continues for life.
The facility of taking a loan against the policy is also available.
That is, this scheme gives an excellent combination of lifetime insurance protection along with savings.
3. LIC Jeevan Labh
Jeevan Labh is for those investors who want to pay a premium for a short period but want to benefit for a long time.
In this, a premium has to be paid only for 10, 15, or 16 years.
On maturity, both the sum assured and the bonus are available.
The family gets protection in case of death during the policy period.
This scheme is especially liked by those people who want to save for big expenses like children's education or marriage.
4. LIC Jeevan Lakshya
If you want the family's income to continue even in your absence, then Jeevan Lakshya is the best option.
On the death of the policyholder, the nominee continues to receive 10% of the sum assured every year.
A lump sum amount, along with a bonus, is received at the end of the policy.
Along with this, there is also an option to add a rider for extra cover.
This scheme is specially designed to secure the education and future of children.
5. LIC New Endowment Plan
LIC's New Endowment Plan is the simplest and most balanced option.
In this, a term of 12 to 35 years can be chosen.
Sum assured and bonus are received on completion of the policy term.
Life insurance protection is available throughout the term.
This is a better option, especially for investors joining LIC for the first time, because the risk in it is very low and the assurance of savings is high.
The biggest features of these 5 schemes
Safety first: These policies offer guaranteed payouts as compared to market-linked products.
Dual role: Benefit from both insurance cover and maturity benefits.
Trusted brand: Government company LIC has a track record of more than 65 years.
Market experts' opinion
Experts say that even though LIC schemes may not give high returns like the stock market, their advantage is security and stability. IRDAI reports also state that traditional schemes contribute the most to the Indian insurance market.
As a financial advisor says, 'You do not buy LIC policy just for returns, but for the trust and peace that it gives security to the family.'
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