LIC of India, established in 1956 is one of the largest insurers in the country that offers several insurance products ranging from term plans to savings and investment plans for both Indians and NRIs. If you are an NRI living in Canada and looking to purchase endowment plans, you have a vast variety offered by LIC. Here are discussing a few endowment plans of LIC that are also available for NRIs of Canada.Read more
Save upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
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A LIC endowment insurance plan is a service-oriented insurance policy that offers the dual benefits of insurance cover and guaranteed creation of wealth. This is a long-term investment. In case of the policyholder’s demise during the policy tenure, the death benefit is paid to the nominee. However, if the policyholder survives the tenure of the policy, a maturity benefit is paid. Endowment plans help life assured to create savings for their financial objectives.
LIC endowment plans offer the following unique benefits:
LIC Jeevan Labh, a with-profit endowment, and a limited premium payment plan offer the dual benefits of savings and investment to the life assured. This policy is mainly suitable for young citizens of India who are studying or settled in another country like Canada.
Features of LIC Jeevan Labh
The plan offers high returns
New Jeevan Anand is a participating and non-linked plan introduced by LIC. The plan offers a unique combination of savings and protection. The plan provides liquidity by giving a loan facility to the policyholders.
Features of LIC New Jeevan Anand
LIC Limited Premium Endowment Plan is a non-linked policy that offers the right combination of savings and protection. In this, the life assured receives a lump sum amount at maturity. This plan takes care of the requirements of the family in case of the unfortunate demise of the policyholder.
Features of Limited Premium Endowment Plan
LIC Jeevan Lakshay is a complete family protection plan that provides protection and savings under a single plan. In case of death of the policyholder, the nominee receives the sum assured amount under natural death.
Features of LIC Jeevan Lakshay
LIC is a popular and trustworthy life insurance company that has been offering various life insurance products for Indians and NRIs like people living in Canada. With the LIC endowment plans, you can make sure that you receive protection and wealth creation without any involved risks. Various endowment plans provide you a section of the profits earned by the insurer depending on their performance.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
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