In today’s era, every person wants to invest his hard-earned money in such a place where the money is safe and also gets strong profits on it. Amidst the volatility of the stock market, Life Insurance Corporation of India (LIC) is still the biggest name of trust for Indian families.
If you also want to strengthen the future of yourself and your family financially without any big risk, then some special plans of LIC are made just for you. Along with insurance protection, these schemes can become a strong source of income for you in the long run. Come, let us understand about those five best policies of LIC, which have the ability to meet your different financial needs.
- LIC Jeevan Anand: If your budget is limited but you are looking for a strong life insurance, then this policy is perfect for you. In this, you can start by depositing just Rs 45 per day or monthly installment of Rs 1358.
This small amount can create a big fund for you in future up to Rs 25 lakh. The minimum tenure of this scheme is 15 years and on completion of maturity, you get a lump sum amount along with bonus.
- LIC New Endowment Plan: This is a great option for those who want to keep their savings safe as well as expect a fixed return. This scheme has been created mainly keeping in mind those investors whose entire focus is on the security of investment. Being a low-risk plan, you get the benefit of fixed returns and bonuses along with life protection.
- LIC Jeevan Shiromani: This is a great non-linked life insurance plan for people who have a good income and want a premium protection cover.
Its biggest feature is that the investment period is short and the time to profit is long. In this, sum assured up to Rs 1 crore can be taken. For example, if a 30 year old person takes this policy for 20 years, then he will have to pay a premium of around Rs 7.59 lakh annually for only 4 years, while its benefits will continue for the entire 20 years.
- LIC Jeevan Umang: Jeevan Umang is an excellent lifetime income plan so that there is no shortage of money after retirement and there is a regular income. After completion of the premium deposit period, this plan starts offering guaranteed moneyback of 8% every year.
You get this income throughout your life. Besides, in case of any untoward incident, complete insurance cover is also provided to the family.
- LIC Jeevan Tarun: Every parent is worried about their children’s higher education and marriage. To remove this worry, ‘Jeevan Tarun’ is a very safe scheme. In this, investment is made till the child turns 25 years old. When the child is between 20 to 25 years of age, he gets a fixed amount as moneyback every year. After this, on completion of the policy term, they get a good lump sum amount along with bonus, which is useful in the beginning of their career.