This Article was fact checked and last updated for accuracy on May 23, 2024 by Mani Karthik
Life insurance is a crucial step in protecting your loved ones and securing their financial future.
Since you’re interested in LIC plans specifically, I’ve narrowed down the options to their best offerings for 2024:
Term Insurance (Pure Protection):
- LIC Tech Term: An affordable online term plan with straightforward features. It’s a good choice if you’re primarily looking for financial protection for your family in case of your untimely demise.
Endowment Plans (Savings + Protection):
- LIC Jeevan Labh: This plan combines life insurance coverage with a maturity benefit, making it a good option for those who want to save while securing their family’s future.
- LIC New Endowment Plan: Similar to Jeevan Labh, this plan offers a combination of protection and savings, but with slightly different features and benefits.
- LIC Jeevan Lakshya: This plan is designed to provide financial support for your child’s education and future goals, even in your absence.
Whole Life Insurance (Lifelong Coverage):
- LIC Jeevan Umang: This plan offers lifelong coverage and provides regular payouts (survival benefits) after the premium payment term.
It’s a good option if you want a plan that covers you for your entire life and provides some additional income during your retirement years.
Key Factors to Consider:
- Coverage amount: How much money would your family need to maintain their lifestyle and cover any outstanding debts in your absence?
- Policy term: How long do you want the coverage to last?
- Premium: What premium amount fits your budget comfortably?
- Riders: Consider adding riders like Accidental Death and Disability Benefit or Critical Illness Benefit for enhanced coverage.
For Further Information:
Check out the LIC website for detailed information on each plan, including brochures, premium calculators, and the option to contact an LIC agent for personalized guidance.
Remember, choosing a life insurance plan is a personal decision. Carefully assess your needs and financial situation before making a choice.
LIC offers a range of plans to suit different needs and budgets, so take your time to find the one that’s right for you.
If you’re still feeling a bit lost in the insurance jungle, don’t worry. Check out these official websites for more information:
- IRDAI (Insurance Regulatory and Development Authority of India): The government body that keeps an eye on all things insurance. https://www.irdai.gov.in/
- LIC (Life Insurance Corporation of India): The granddaddy of life insurance in India. https://licindia.in/
- Policybazaar: A handy website for comparing policies from different companies. https://www.policybazaar.com/
What are your goals investing in LIC Gaurav?
That’s a very broad question Abhijit. What exactly are you interested in as a career?
I m Abhijit . M from Assam .
I have just graduated with B.Sc (Maths) as honors .I would like to know about Career opportunities in Business World
Which is the life insurance policy for kids from LIC?
I wt to buy a plan with monthly Rs2000 and may annual 30, 000. Plz advise best plan.
I want to buy a policy of 10000 premium paid annually. My age is 40 years. What would be best LIC policy.
Dear All,
I am LIC agent Chittaranjan Shetty. Please contact me for any kind of policy. I can advise best suitable policy which would benefit me in long term. Kindly contact me asap.
Regards
Chittaranjan Shetty
Help me to buy a best plan
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