Which LIC Plan Is Best?

Which LIC Plan Is Best?

Best LIC Policy – Plans Details

LIC PoliciesPlan TypeMaximum Maturity Age
LIC e-term InsurancePure Term Plan75 years
LIC New Children’s Money Back PlanTraditional Money Back Child Plan25 years
LIC JeevanAnandParticipating Traditional Endowment Plan75 years
LIC Jeevan SaralEndowment Plan70 years

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Which is the best LIC Policy 2018?

Top 5 Best LIC Policy for 2018 – 2019

LIC PoliciesPlan TypeMaximum Maturity Age
LIC e-term PlanPure Term Plan75 years
LIC New Children’s Money Back PlanTraditional Money Back Child Plan25 years
LIC New Jeevan AnandEndowment Plan75 years
LIC Jeevan UmangWhole Life + Endowment100 years

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Is PLI or LIC better?

Premium Rate-When compare to LIC or any private insurers, PLI offers cheap premium. So this is a most advantage of buying endowment plans with PLI than with LIC. Bonus Rate-Bonus offered by PLI is in the range of 7% or more. Whereas currently LIC offers a bonus rate of around 4% to 5%.

Is Jeevan Umang good policy?

Benefits of LIC Jeevan Umang Plan. Survival benefits : In case the insured survives the policy payment term, then 8% of the sum assured is paid every year as a guaranteed survival benefit. This benefit is paid till the maturity of the plan or the death of the insured, whichever is earlier.

Which is the best LIC policy for child?

LIC’s Premium Waiver Rider is available under the LIC child plan which promises waiver of future premiums in case of death of the proposer.

LIC Child Plans.

MinimumMaximum
Maturity Age25 years
Policy Term25 years – entry age of the child
Sum AssuredRs.1 lakhNo limit
Annual Premium AmountRs.24, 000No limit

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Which is the best LIC policy for 10 years?

Best LIC Plans and Policies Details

LIC PlansPlan TypePolicy Term
LIC- e TermPure Term insurance plan10-35 years
LIC Jeevan AnandParticipating Traditional Endowment Plan15-30 years
LIC New Children Money Back PlanTraditional Money Back Child Plan25 years
LIC Jeevan SaralEndowment Plan10 – 35 years

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Why is LIC term plan expensive?

Claim settlement ratio is definitely helping LIC price its premiums much higher than private sector insurers. The IRDA has an insurance ombudsman scheme where individuals can settlement complaints out of court in a cost effective, efficient and impartial way. Individuals should use this scheme effectively.

Which is best LIC and PLI?

Premium Rate-When compares to LIC or any private insurers, PLI offers cheap premium. So this is the most advantage of buying endowment plans with PLI than with LIC. Bonus Rate-Bonus offered by PLI is in the range of 7% or more. Whereas currently, LIC offers a bonus rate of around 4% to 5%.

Can we pay PLI Online?

Now you can pay PLI Premium Online at pli.indiapost.gov.in. The Postal Insurance Customers can pay their Monthly, Quarterly, Half Yearly Premium for PLI Online by using Online Debit Card, Credit Card, Net Banking, Step by Step Process to Pay PLI Premium Online how to pay pli postal life insurance premium online.

Is PLI maturity tax free?

Therefore these have not been covered here. As per Section 10(10D) of the Income Tax Act, 1961 the amount of sum assured plus any bonus (i.e. the policy proceeds) paid on maturity or surrender of policy or on death of the insured are completely tax free for the receiver subject to certain conditions.

Which is better Jeevan Labh or Jeevan Anand?

Jeevan Anand provides coverage for the entire lifetime of the person even after maturity whereas Jeevan Labh gives good return on investment. Both are good. Jeeva anand cover risk 125%, while jeevan labh 105%.

What is sum assured in LIC?

The sum assured is the amount of money an insurance policy guarantees to pay up before any bonuses are added. In other words, sum assured is the guaranteed amount the policyholder will receive. This is also known as the cover or the coverage amount and is the total amount for which an individual is insured.

What is whole life plan in LIC?

The Whole Life Policy from LIC is a simple regular payment whole life plan along with Bonus facility. In this plan, the premium is paid for 35 years or till the life insured is 80 years old.

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