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10 Best LIC Plans To Invest And Boost Your Protection In Pandemic- 2021

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Insurance is a form of risk management. When you buy insurance, you give the insurance company the cost of a potential loss in exchange for a fee called a premium. Insurance companies invest the funds safely so that they can grow and payout when a claim is made. When things go wrong, insurance serves as a safety net. When the breadwinner of a family's members passes away, life insurance can help keep the family afloat. Insurance not only protects against risks and uncertainties, but it also serves as a means of investment. Because premiums are paid on a regular basis, life insurance allows for systematic savings.

 

The long-running Covid pandemic, which began last year and is still ongoing in 2021, has educated us on a few financial lessons. Life insurance, financial security for the family, and investment growth are three important factors. Here are the 10 best LIC policies to consider depending on your requirement.

10 Best LIC Plans To Invest In 2021

10 Best LIC Plans To Invest In 2021

10 Best LIC Plans To Invest In 2021

LIC Policy Name Plan Number Type of Plan
LIC Tech-Term Plan 854 Term Insurance plan
LIC SIIP LIC Plan 852 ULIP
LIC Bima Jyoti LIC Plan 860 Life Insurance Savings Plan
LIC Cancer Cover LIC Plan 905 Health Insurance Plan
LIC Jeevan Akshay VII LIC Plan 857 Immediate Pension Plan
LIC New Jeevan Shanti LIC Plan 858 Deferred Pension Plan
Pradhan Mantri Vaya Vandana Yojana - Pension Plan
LIC Saral Jeevan Bima LIC plan 859 Term Life Insurance
LIC Bachat Plus LIC plan 861 Endowment
LIC Nivesh Plus LIC Plan 849 ULIP

LIC Tech-Term
 

LIC Tech-Term

The LIC Tech Term Plan, also known as Plan 854, is an online-only plan that cannot be purchased offline. The LIC Tech Term Plan is less expensive than other term plans offered by the Life Insurance Corporation because it can only be purchased online. LIC's Tech-Term is a non-linked, profit-free "Online Term Assurance Policy" that protects the insured's family financially in the event of his or her untimely death.

LIC SIIP

LIC SIIP

It's a fund with a unit-linked component (ULIP). This means that no refunds are guaranteed. Premium allocation charges, Mortality charges, fund management charges, switching charges, partial withdrawal charges, and other fees were included in this plan. You can choose from four different funds (Bond Fund, Secured Fund, Balanced Fund, Growth Fund).

LIC Bima Jyoti

LIC Bima Jyoti (Plan No.860) is an Individual, Limited Premium Payment, Non-linked, Non-participating Life Insurance Savings Plan. Throughout the policy term, Guaranteed Additions will accrue at the rate of Rs.50 per thousand Basic Sum Assured at the end of each policy year. This plan is available at a discounted rate through online or agents. Accidental Death and Disability Rider Benefit, Accident Benefit Rider, New Critical Illness Benefit Rider, are some of the rider options.

LIC Cancer Cover

LIC Cancer Cover

LIC Cancer Cover is a non-linked, non-participating health insurance plan. This is a fixed-benefit health plan that pays out for cancer treatment. In the event that a customer is diagnosed with cancer, this plan will provide benefits regardless of the treatment costs. LIC Cancer Cover protects you from cancer in its early stages and later stages. The benefits are determined by the stage of cancer that you have been diagnosed with.

LIC Jeevan Akshay VII

LIC Jeevan Akshay VII an annuity plan that pays out right away. It's a one-time-only, non-linked, non-participating, and individual instant annuity plan. Policyholders can choose from ten different annuity options after receiving a lump sum payment. The plan stipulates that the annuitant will receive a set amount of annuity payments for the rest of his or her life. This plan is available both online and in person.

LIC New Jeevan Shanti

LIC New Jeevan Shanti

LIC launched its new pension plan, LIC New Jeevan Shanti. It's a deferred pension plan with a single premium. At the time of purchase, the pension rates are guaranteed. The maximum deferment period is 12 years, and the maximum vesting period is 80 years, as you may have noticed. The second thing to keep in mind is that if you choose a half-yearly, quarterly, or monthly pension, your pension will be reduced. The policy can be surrendered as well.

Pradhan Mantri Vaya Vandana Yojana

The Life Insurance Corporation of India (LIC), India's largest life insurance provider, operates and manages PMVVY, a retirement and pension scheme. The purchase price is the amount of money invested by the scheme's buyers. The scheme offers a guaranteed rate of return on investment because the sovereign backs it. The scheme pays out a regular pension on a monthly, quarterly, or annual basis. Traditional bank deposits can be replaced with the PMVVY.

LIC Saral Jeevan Bima

LIC Saral Jeevan Bima

Saral Jeevan Bima Policy, a standard term insurance plan, has been launched by LIC. These term life insurance plans are designed to provide pure risk coverage with no requirements for providing documentation when purchasing the policy. The Saral Jeevan Bima (Plan No.859) plan is ideal for those looking to purchase coverage of up to Rs.25 lakh.

LIC Bachat Plus

Bachat Plus is a Non-Linked, Participating, Individual Life Assurance Savings plan offered by LIC. The premium for this plan can be paid as a lump sum (single premium) or as a limited premium with a 5-year premium payment term. The proposer will have two options for "Sum Assured on Death" under each of these premium payment options.

LIC Nivesh Plus

LIC Nivesh Plus

A unit-linked insurance plan (ULIP) is a type of insurance that is linked to the performance of the stock market (ULIP). This means that no refunds are guaranteed. This is a combined insurance and investment strategy. The amount guaranteed to be paid when the plan matures. You will not be eligible for complete tax breaks for the premiums paid and the maturity amount if the Basic Sum Assured in the plan is less than 10 times the annual premium.

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