Life Insurance Corporation of India (LIC of India)

LIC of India or Life Insurance Corporation of India is a government-backed life insurance provider in India. It was established in 1956 after the merger of 245 provident societies and insurance companies. It currently offers a wide range of insurance and investment products. Headquartered in Mumbai, its presence today spans urban and rural India across 2048 branches. 

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Why Choose LIC?

Here are some important reasons to choose a LIC life insurance policy:

  • Over 66 Years of Trust: As per IRDAI annual report 2020-21, LIC has successfully paid over 98% of the LIC policy claims filed by nominees. It is also the oldest life insurer in the country. This can be why nearly 75% of Indians consider the LIC of India trustworthy.

  • Backing of the Central Government: All policy buyers want to invest their hard-earned money in a safe place. As per section 37 of the LIC Act, 1956, all the LIC policies are guaranteed by the Central Government. This gives LIC policy buyers a sense of security.

  • Product Variety: Apart from a vast range of insurance and investment products, LIC India is preferred for its variety of features. There is something for everyone starting from LIC savings plans, ULIPs, and endowment plans to pension plans.

  • Simple Policy Purchase: Whether you purchase a LIC policy online or offline, the process is simple. If you choose to buy a LIC policy online, you also get special discounts and other benefits.

  • Easy Claim Settlement: LIC claim process is simple and easy. This is the reason the company has a high Claim Settlement Ratio (CSR). For Financial Year 2020-21, the LIC India claim settlement ratio was 98.62%. The high LIC CSR depicts that out of 100 claims filed, 98.62 claims are settled successfully in that FY.

  • Unparalleled Customer Support: LIC of India has unparalleled customer support. For helping their customers, the customer support of LIC is available 24X7.

  • Tax Benefits of LIC Policy: With every LIC policy, you also get tax benefits under the following sections of the Income Tax Act:

    • Section 80C

    • Section 80CCC

    • Section 80D

    • Section 80DD

    • Section 10(10D)

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Types of LIC Plans

The LIC of India offers an array of insurance and investment products to cater to the needs of a diverse range of customers. Let us take a look at the various types of plans offered by LIC:

  1. LIC Unit-Linked Plans

    These plans allow customers to invest in the equity market to grow their wealth through market-linked returns. A part of the premiums paid towards the policy goes towards this investment and the remaining is used to secure a life cover that protects the financial future of dependents.

    Unit-linked insurance plans (ULIP) offered by LIC are –

    LIC ULIP Name Minimum Premium
    LIC's SIIP Annually - Rs.40,000
    LIC’s Nivesh Plus One-time premium - Rs.1 Lakh
    LIC’s New Endowment Plus Annually - Rs.20,000
  2. LIC Endowment Plans

    The LIC of India endowment plans promises a life cover for the insured and increased savings opportunities. These plans offer a guaranteed maturity benefit on surviving the whole policy term, and therefore, can be used to save for the future.

    These are the endowment plans that LIC of India offers:

    LIC Endowment Plan Name Minimum Sum Assured
    LIC Bima Jyoti Rs. 1,00,000
    LIC New Endowment Plan Rs. 1,00,000
    LIC Single Premium Endowment Plan Rs. 50,000
    LIC New Jeevan Anand Rs. 1,00,000
    LIC Jeevan Labh Rs. 2,00,000
    LIC Aadhaar Shila Rs. 75,000
    LIC Jeevan Lakshya Rs. 1,00,000
    LIC Aadhaar Stambh Rs. 75,000
    LIC Dhan Sanchay Rs. 2.5 Lakhs
    LIC Bima Ratna Rs. 5,00,000
  3. LIC Pension Plans

    Everyone should save enough to live a financially protected retirement life. LIC of India offers several pension plans to guarantee financial stability in old age.

    These are the three pension plans that LIC of India offers:

    LIC Pension Plan Name Plan Type Minimum Purchase Price
    LIC New Jeevan Shanti Deferred Annuity Option Rs 1.5 Lakhs
    LIC Jeevan Akshay –VII Individual Immediate Annuity Plan Rs 1 Lakhs
    LIC Saral Pension Individual Immediate Annuity Plan NA
    Pradhan Mantri Vaya Vandana Yojana Pension Scheme Rs. 1,56,658/- annually
  4. LIC Whole Life Plans

    LIC of India also offers a whole life plan that offers insurance coverage throughout the lifetime of the insured.

    The following whole life insurance plan is offered by LIC of India:

    LIC Whole Life Plan Name Minimum Sum Assured
    LIC Jeevan Umang Rs.2,00,000
  5. LIC Money Back Plans

    Money-Back Plans are life insurance policies that provide life cover during the policy term. Such LIC plans offer a fixed percentage of the sum assured on maturity on surviving certain policy years. These are called survival benefits in LIC.

    LIC Money Back Plan Name Minimum Sum Assured
    LIC Jeevan Shiromani Rs. 1,00,00,000
    LIC Jeevan Tarun Rs. 75,000
    LIC New Money Back Plan- 20 years Rs. 1,00,000
    LIC New Children’s Money Back Plan Rs. 1,00,000
    LIC New Money Back Plan- 25 years Rs. 1,00,000
    LIC Bima Shree Rs. 10,00,000
    LIC Dhan Rekha Rs. 2,00,000
    LIC New Bima Bachat For 9 years: Rs. 35,000
    For 12 years: Rs. 50,000
    For 15 years: Rs. 70,000
  6. LIC Term Insurance Plans

    LIC term plans protect the family of the insured against his/her death at affordable costs. These LIC insurance plans assure financial benefit on the death of the policyholder during the policy term. The LIC of India usually does not pay maturity value under term plans if the individual survives until the end of the policy tenure.

    The term plans offered by the Life Insurance Corporation of India are as under:

    LIC Term Plan Name Policy Term Sum Assured
    LIC Tech Term 10 to 40 years Rs.50,00,000
    LIC Jeevan Amar 10 to 40 years Rs.25,00,000
    LIC Saral Jeevan Bima 5-40 years Rs.5,00,000
    LIC Bhagya Lakshmi Premium Paying Term +2 years Rs.50,000

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

LIC Riders

Riders or add-on benefits are optional or sometimes in-built additional protections that you can attach to your base LIC policy to enhance its coverage. You have to pay an additional premium to purchase a rider on top of your base LIC policy.

Here is the list of riders that LIC offers with its insurance policies:

LIC Riders
LIC's Accidental Death and Disability Benefit Rider LIC's Accident Benefit Rider LIC's Premium Waiver Benefit Rider LIC’s New Critical Illness Benefit Rider LIC's New Term Assurance Rider LIC's Premium Waiver Benefit Rider (With Auto Cover) LIC's Linked Accidental Death Benefit Rider

How to Choose a Suitable LIC Policy?

To purchase a suitable LIC policy, you need to keep the following factors in mind:

  1. Identify Needs & Choose Coverage Amount

    Choose the insurance coverage amount (sum assured) wisely by taking into account your current income, savings, number of dependents, future goals, etc. You should keep in mind the requirements of your family as well as your earnings and expenditure.

  2. Choose a particular type of insurance policy

    Based on your future goals, pick a type of plan that can help you fulfill them. For instance, if your goal is retirement planning, look at LIC pension schemes for senior citizens. Alternatively, explore ULIPs if you want to grow your wealth.

    Broadly we can divide LIC products into five different categories (as mentioned above). These categories are:

    • LIC Unit-Linked Plans

    • Endowment Plans

    • Pension Plans

    • Whole Life Insurance Plans

    • Money-Back Plans

    • Term Insurance Plans

  3. Compare Different Plans & Their Features

    Now that you have a type, shortlist plans from that category that fall on your budget. Look for additional features that can increase your savings. These may include guaranteed additions, profit participation, loan benefits, loyalty additions, premium waiver, etc.

  4. Calculate the Premium & Maturity Amount Online

    There are LIC maturity and premium calculators available online. You can use this tool to get to know the premium that you have to pay on regular basis as well as the maturity amount that you will get. Getting to know about these two values will let you decide and choose a suitable LIC insurance policy.

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LIC e-services

LIC e-services enable users to carry out insurance-related activities from the comfort of their homes through its official website or mobile application. From policy registration to checking claim status, everything can be done in a few clicks.

Here is the range of services that customers and policyholders can access on LIC’s online platform.

  • Compare plans

  • Premium calculator and Benefit Illustration

  • Online premium payment

  • Review policy status

  • Loan application

  • Check claim status

  • Check policy revival price

  • Access to forms for various services

  • Grievance registration

Here is the range of services that customers and policyholders can access on LIC’s online platform.

  1. How to Register for LIC’s e-Services?

    Customers have to register on LIC’s online customer platform to be able to use the services mentioned above. Here are the steps to do so.

    • Visit the Customer Portal on LIC's website and click on New User.

    • Choose User ID and password. Click on Submit.

    • Login to your account and choose Basic Services to add your policy.

    • To access LIC’s premier online services, fill up the Registration form and print it.

    • Sign this form; then scan it along with the PAN card or passport.

    • Upload the scanned images and click on Submit Request.

    • Once the details are verified by a Customer Zone Official, you will receive an acknowledgment by email or SMS.

  2. What Are the LIC of India Mobile Apps?

    LIC India has several mobile applications to make insurance purchases convenient and less time-consuming. Find below the list of LIC applications that offers access to all its products, features, and services.

    • My LIC - This is the LIC app store that provides links to its other applications. Users can download whichever app they need through My LIC.

    • LIC Customer - This app offers detailed information about LIC's products and services. From the online premium payment, checking the policy status, etc. to benefit illustration and plan brochures, you will find everything on this mobile application.

    • LIC PayDirect - This application allows policyholders to repay loan amounts and to pay renewal premiums and the interest on the loan. You can use this app to make payments even without registering for LIC’s online portal.

    • LIC Quick Quotes - This LIC app allows users to calculate premiums before actually purchasing a plan. This helps them understand how affordable a plan is. They can also see the death and maturity amount applicable under a plan. This information can be used for better financial planning.

  3. How to Buy LIC Policy Online?

    Here is a step-by-step guide on how to purchase a LIC policy through its online portals.

    • Visit the website of LIC.

    • Under Buy Online Policies, go to the Click Here option.

    • Choose the policy you want from the list.

    • Go to Click to Buy Online.

    • You will be asked to provide COVID-19-related information.

    • Click on Proceed to fill in your Contact Details

    • You will be offered an Access ID. Insert the OTP that you will receive on your phone.

    • Fill in policy-related details such as policy term, sum assured premium payment criteria, etc.

    • Click on Calculate Premium.

    • If everything is in order, proceed to the premium payment.

    • You will receive a confirmation in your mail or SMS once the transaction is successful.

  4. How to Find The LIC Policy Number?

    • To find the LIC policy number, all you have to do is visit the LIC customer portal on LIC’s website.

    • Click on the ‘Registered User’ option.

    • Login to your account using the user ID and password that you had set when you registered for its services.

    • This will display the policy numbers of all your active LIC policies that were enrolled by you on the portal.

  5. How to Check LIC Policy Status Online?

    You can check the LIC policy status online through its website or mobile application.

    • If you are a new user, you will have to register for its e-services.

    • You can then proceed to add your policies to your account.

    • Once the registration is successful, you can log in to view the status of your LIC policy.

    • If you are an already registered user, simply log in to your account for the same.

  6. How to Check LIC Policy Status Without Registration?

    You can use LIC’s SMS service to check LIC policy status without registration. All you have to do is -

    SMS ASKLIC<policy number>STAT to 56767877 from your registered phone number. Other types of queries for which you can use the SMS service are:

    • Revival Sum - ASKLIC(Policy Number)REVIVAL

    • Bonus Additions - ASKLIC(Policy Number)BONUS

    • Installment premium - ASKLIC(Policy Number)PREMIUM

    • Status of Added Nominations - ASKLIC(Policy Number)NOM

    • Loan Sum Available - ASKLIC(Policy Number)LOAN

    Another option is to reach out to LIC through its integrated voice response system (IVRS) at 022 6827 6827. Policyholders can also request to have this information faxed to them should they need it.

  7. How to Pay LIC Premium Online?

    LIC premium payment online can be done either through the mobile app LIC PayDirect or simply through its official website. The mobile application allows you to pay premiums without having to register to its e-services portal.

    Here are step-by-step guides on how to pay LIC premiums online through both mediums.

    Through LIC Website

    • Register to LIC’s customer portal and enroll in your policies.

    • Login to your account using the user ID and password.

    • Click on Pay Premium Online.

    • You will see the list of policies for which premiums are due. Proceed to select one.

    • You will see different options to make the payment such as net banking, UPI, debit, and credit cards. Use a suitable one for you.

    • You will be directed to the payment gateway for the option chosen.

    • Following a successful transaction, you will receive confirmation through an e-receipt.

    Through LIC PayDirect

    • Install the application on your phone.

    • Click on Proceed.

    • Under the Pay Direct option, select Advance Premium Payment.

    • Click on Done.

    • Fill out the form with information on the policy number, installment premium amount without tax, your DOB, and contact details.

    • Click on Submit.

    • Enter the premium particulars in the next step.

    • Proceed to make the payment using a suitable gateway from the options presented.

    Points to Note While Making LIC Premium Payment Online

    • To use the net banking facility, you need to have a registered bank account with LIC’s listed bank affiliations.

    • Provide the correct details and valid contact number along with your email address.

    • The payment receipt will always be mailed to the email address provided.

    • It should be done by the policyholder only and should not involve a third party.

    • If the amount has been debited from your account but the screen displays an error, do not attempt to make a payment again. You should receive a confirmation receipt in your mail within 3 working days. You can also report such an incident to bo_eps1@licindia[dot]com.

    • The online portal accepts only domestic bank-issued cards. Any international cards will not be accepted.

  8. How to Check LIC Maturity Amount?

    If you want to keep a check on the LIC maturity amount after purchase, all you have to do is create an account on the LIC customer portal. This will give you access to all its online services.

    • Once you are registered, log in to your account using the newly created User ID and password.

    • Go to Policy Status. This will display all the enrolled policies under your account.

    • Click on the policy for which you want to check the LIC maturity amount.

    • This will display all the information related to the policy including the maturity amount.

    If you haven’t bought an insurance policy yet, checking the maturity amount can help you plan your finances better. You can do this using the LIC maturity calculator which offers a detailed illustration of the benefits you will be entitled to. Here is a guide on how to do so.

    • Visit the LIC website or its application LIC Quick Quotes.

    • Scroll down to the tab of LIC Premium Calculator.

    • This will take you to an external page for LIC e-services.

    • Enter your details such as age, gender, DOB, and contact details.

    • Click on Next.

    • You can choose Quick Quotes or Compare Quotes.

    • Select the policy for which you want to calculate the maturity benefit amount.

    • Fill the form with desired policy-related details such as the sum that you want to assure, the policy term, premium payment term, and premium paying frequency.

    • The next page will offer you premium quotes.

    • You will also see the option for benefit illustration with it.

    A key advantage of the LIC maturity calculator is that it takes into account the unique needs of each user. This helps customers make the best insurance decision for themselves.

  9. LIC Customer Service

    LIC customer care service includes a range of networks (both online and offline) to facilitate a wider reach. You can contact the LIC call center to use its customer services for information on the following:

    • Claim settlement

    • Updating contact details

    • Unclaimed amounts of policyholders

    • Policy guidelines and benefits

    • Policy purchase and premiums

    • Tax benefit

    • Bonus information

    • NRI Insurance

    • Change of address

    • Life certificate for pension policies

    • Application forms

    • Registration to LIC Customer Portal

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LIC Claim Settlement Process

The settlement of claims is one of the most important aspects of the services to the policyholders. Therefore, the LIC of India has emphasized greatly the settlement of both maturity and death claims.

Let us understand the procedure for settling the LIC maturity and death claims listed below:

  1. Maturity Claims

    • The branch office that serves the policy will send a letter that will inform the date on which the policy money is payable to the policyholder two months before the payment due date.

    • The policyholder is then requested to return a discharge form that is duly completed with the document of the policy.

    • With the receipt of the two documents, a post-dated cheque is sent by post in the name of the policyholder before the due date.

    • With plans like a money-back plan, LIC will provide periodical payments to the policyholders only if the due premium within the policy is paid up to the due anniversary for the survival benefit.

    In such cases, wherein the sum payable is less than Rs. 60,000, cheques are most likely released without calling for a policy document in the discharge receipt. In case the amount is high, then these two requirements will be insisted upon.

  2. Death Claims

    Whenever the intimation of the life assured’s demise is received, the branch office calls for the listed below requirements:

    • The Claim Form A- It is essentially the statement of the claimant, which gives the information of the claimant and the life assured.

    • Certified extract from the death register.

    • In case the age is not admitted then evidence to substantiate the same.

    • Proof of title to the deceased's estate in case the policy isn't assigned, nominated or issued within the MWP act.

    • The original papers of the policy document.

    • Documents such as the copy of the FIR, and report of the post-mortem are mostly insisted upon in case of death by accident.

    Other forms may be requested if the demise occurs less than three years from the date of reinstatement/revival.

    • Claim Form B: A certificate of the medical attendant that is completed by the deceased’s medical attendant during the last illness.

    • Claim Form B1: In case the treatment in the hospital was received by the life assured.

    • Claim Form B2: This should be duly completed by the deceased life assured's a medical attendant who treated him/her before their last illness.

    • Claim Form C: A certificate of identity and cremation or burial that is completed and signed by the person who is a known character or responsible.

    • Claim Form E: The employment certificate if the life assured was an employed individual.

    • The copies of the post-mortem report, first information report, and the investigation report of police in case the demise was due to an unnatural cause or an accident.

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  • Q1. What is the sum assured in LIC?

    Ans: In simple words, sum assured is defined as the value of the life cover within the life insurance policy. In case of an unfortunate event, the insurance company will pay this pre-fixed sum to the policyholder or the nominee. Sum assured is nothing but the benefit either received by the policyholder or the nominee.
  • Q2. How to change the existing nominee of a LIC policy?

    Ans: An individual can change the nominee as many times as he/she wants. To do so, the policyholder will have to submit a notice to the Life Insurance Corporation of India in Form 3750. In the form, the policyholder will require to mention the details of the person they want to assign as the nominee. The policyholder can change the nominee at any time without notifying the existing nominee.
  • Q3: How to change the address in LIC policy?

    Ans: The policyholder can either visit the nearest office or submit a request for an address change in writing or can change the policy address online by logging in to their account.
  • Q4: How to avail of the loan facility against LIC life insurance policies?

    Ans: If the policy is eligible to take a loan against the policy, then he/she will need to:
    • Visit the branch office of the bank.
    • Thoroughly fill out the loan application form and submit it along with the required documents to the lender's representatives.
    • The lender will verify the submitted documents and will approve the application.
    • After approval, the loan amount will be credited to the savings bank account.
  • Q5. What is the procedure to become an agent at LIC?

    Ans: Here is a step-by-step guide to becoming a LIC agent:
    • The person needs to be 18 years of age and 10th pass. 
    • Contact the nearby LIC India branch office and meet a development officer. 
    • The branch manager will conduct the interview, and if the individual is suitable then the individual will be sent to training at any divisional/ agency training center.
    • The training is given for about 25 hours and it covers all the aspects of LIC of India insurance business. 
    • Once the training is completed, the individual needs to appear for the pre-recruitment examination that is conducted by the IRDAI.
    • When the examination has been completed, a letter of appointment and identity card of the insurance agent will be given. 
    • Hereafter, the person will become an insurance agent and become a part of the team that is under the development officer. 
    • The development officer will then impart the field training and other inputs that would help in the marketplace.
  • Q6. How can one check the LIC policy details online?

    • Visit the LIC India website.
    • Register to LIC’s e-services if not done already.
    • Log in with your username and password.
    • Go to 'View Enrolled Policies.
    • Choose the policy for which you want to check the details.
  • Q7. Which is the best LIC policy at present?


    The best LIC policy will depend on the individual needs of buyers. Look for schemes that offer guaranteed additions on top of the assured death and maturity benefits, such as LIC Bima Jyoti. Or, you can also look at ULIPs such as LIC SIIP to enjoy market-linked returns from the equity market. Whichever policy you pick, it should align with your future goals.

    Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

  • Q8. Is LIC premium tax deductible?

    Ans: You can avail of tax benefits on the premiums paid under section 80C of the Income Tax Act of India, 1969.

LIC News

With LIC Bima Ratna, Enjoy Guaranteed Additions With Maturity And Death Benefits

29 September 2022

LIC Bima Ratna is a great way to save for the future and create a financial safety net for your family. It also offers guaranteed additions up to Rs 60 per Rs 1000 of basic sum assured.

This means that you will receive an additional payout at maturity or in the event of your death. This benefit can be used to meet financial goals such as buying a house or funding a child's education.

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Enjoy Low Premiums On Desired Coverage With LIC Dhan Rekha

28 September 2022

LIC Dhan Rekha offers great coverage for women, making it an ideal option for those who want to protect their families from financial hardship. The LIC premium for this policy is very affordable as well.

There is an additional bonus component that is declared as a percentage of sum assured. It is payable on survival to the end of the policy term provided all due premiums have been paid.

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With Only 6 Months Left, Get Your Hands On The LIC PMVVY Pension Scheme Now!

27 September 2022

The Government pension scheme, Pradhan Mantri Vaya Vandana Yojana is only available for sale till Mar 31, 2023. Sold exclusively by LIC, the plan promises a lot of benefits for senior citizens who have retired or are planning to retire.

It guarantees a regular pension for 10 years on top of a guaranteed return of the purchase price at maturity. Buyers also enjoy a life cover during the tenure which secures the families against uncertainties.

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An Investment of Rs 2000 Every Month in LIC’s New Endowment Plan Gets You More Than Rs 48 Lakhs at Maturity

26 September 2022

LIC’s plan number 914 can be bought for anyone in the age bracket of 8 to 55 years. If you as a parent were to take this plan for your 18-year-old kid, he would earn a total sum of Rs 48,40,000 at the end of a policy term of 35 years.

You would only have to invest a sum of Rs 2079 monthly. Moreover, the plan also guarantees a death benefit in case of unfortunate events.

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Here’s How You Can Get A Lump Sum Payout On Maturity With LIC Dhan Rekha

22 September 2022

LIC Dhan Rekha is a life insurance policy that caters to children and adults alike. There is absolutely no limit to the maximum amount that one can assure with this LIC policy.

This basically means that you can secure a huge corpus for your child’s future by investing small amounts periodically. At maturity, you can choose to get a lump sum payout of the benefit amount that use it to fund expensive endeavors.

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Secure A Monthly Pension Of Rs 20,000 Or More With LIC Jeevan Akshay VII

21 September 2022

LIC Jeevan Akshay offers 10 plan options to choose from. You get to enjoy a life cover, a guaranteed pension for life, and security for your spouse or other dependents.

The death benefit can be annuitised by your nominee which can further act as an income stream. That’s not it! You can also avail of LIC’s loan facility if you are in urgent need of money.

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Invest today for a secure future tomorrow with LIC Jeevan Labh!

20 September 2022

If you're looking for a tax-saving investment option that can also provide you with a tidy sum of money upon maturity, look no further than the LIC Jeevan Labh policy offered by the LIC of India.

For a mere Rs. 258 per day, you can get coverage of up to Rs. 20 lakhs. And not only is the maturity benefit exempt from taxes but so is the death benefit paid to your nominees in the event of your untimely demise.

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Get Your 2-Year-Old Child Insured With LIC’s Dhan Sanchay Plan & Secure An Income For Them

16 September 2022

Save as low as Rs 86 every day and secure a guaranteed maturity benefit of Rs 5,76,834 after 15 years. Moreover, get a guaranteed income of Rs 49,500 every year from the 16th year till the 30th year.

Benefits do not stop here! The death benefit cover remains active throughout the policy term. You will also get a guaranteed terminal benefit worth Rs 1,52,004 on the 30th year.

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LIC Saral Pension Can Get You Rs 52,000 Every Year With Just A One-Time Premium Payment

15 September 2022

The plan not only offers you a lifetime annuity but also a 100% return of the purchase price on the death of the pensioner.

This ensures that you as well as your dependents are secured with absolutely no risk to your money. To guarantee a pension amount of Rs 52,000 every year, you will have to invest a one-time purchase price of Rs 10 Lakhs in the LIC Saral Pension Plan.

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LIC Jeevan Tarun Can Help You Fund Your Child’s Dream Education

13 September 2022

You can set up a decent fund for your child with the help of LIC Jeevan Tarun. As soon as your child reaches the age of 20, funds will start flowing in annually for the next 5 years.

When he/she reaches 25, a lump sum maturity benefit will be paid which can set him up for higher education. Notably, there is no limit to the maximum amount you want to secure for your child.

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Secure a lifetime pension and also get guaranteed additions with LIC’s New Pension Plus

12 September 2022

It is a new unit-linked pension policy by the LIC of India. In addition to a life cover and a pension, the plan also adds an extra amount through guaranteed additions.

These are added to the fund value starting from the 6th policy year till the 42nd year. Guaranteed additions are declared as a percentage of the annual premium or the single premium amount.

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Enjoy 25% More Than The Assured Sum On Death With LIC Bima Jyoti

09 September 2022

You can now secure a big corpus for your family to survive on after your demise with LIC’s Bima Jyoti Policy. Nominees can claim 125% of the original sum assured along with extra guaranteed additions that accrue every year.

Say that you assured a sum of Rs 10 Lakhs. If your were to die in the 10th policy year, nominees will get Rs 12.5 Lakhs as death benefit plus Rs 5 Lakhs as guaranteed additions.

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Invest Just Rs 4000 A Month In LIC SIIP And Get Double The Invested Amount At Maturity

08 September 2022

If you are a 26-year-old female looking for financial independence in the long term, you should start investing in LIC SIIP. A monthly investment of Rs 4000 for 20 years can get you up to Rs 18 Lakhs at maturity

(assuming a return rate of 8% per annum). The LIC SIIP’s Growth Fund majorly invests in the equity market that gets you higher returns. Along with this, you will also enjoy insurance protection.

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LIC of India Introduces a New Unit-linked Pension Plan That Offers a Regular Income To Retirees

07 September 2022

LIC’s New Pension Plus is a unit-linked pension plan wherein you can invest a small amount on a regular basis. Your investments will go towards the equity market

which earns you bigger returns than normal savings plans. Once you hit your retirement age, LIC will start crediting a regular income from the accumulated corpus.

Read more

You Can Now Check Your LIC Policy Status Without Registration! Here’s how

06 September 2022

For people who don’t have access to the internet, you can now check your policy status offline by sending an SMS. All you have to do is type ASKLIC Policy Number STAT and send it to 56767877.

You will get an instant reply from the LIC of India updating you about the status of your policy. Similarly, you can use the same format to know about other functions such as bonuses, revival, loan, etc. Just replace STAT with the function that you need information about.

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A One Time Deposit Gets You A Lifetime Pension with LIC’s Jeevan Akshay Annuity Plan

05 September 2022

This LIC pension plan can earn you a minimum annual pension of Rs 12,000 for life. There is no limit to the maximum pension amount, which allows you to design

the plan benefits as per your future needs. Further, with its joint-life annuity option, you can secure a pension for your wife for as long as she lives.

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With LIC Bima Ratna, Your Family Gets 25% More Than The Sum Assured On Your Death

01 September 2022

LIC Bima Ratna offers a life insurance cover on your life in addition to savings opportunities. If you were to die within the policy term, LIC will pay your family the promised sum assured plus 25% more.

So if you had assured a sum of Rs 10 Lakhs, your family will get Rs 12.5 Lakhs on your demise. Moreover, if you survive the policy term, you will get periodic survival benefits and a final maturity benefit.

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Pay Once & Enjoy Risk-Free Life Cover For 10 Years with LIC’s Single Premium Endowment Plan

30 August 2022

Protect your family against your death with the financial benefits offered under the LIC Single Premium Endowment Plan. Invest in this LIC plan a one-time premium

of Rs 7.6 lakhs and secure a minimum sum of Rs 10 Lakhs on maturity plus bonuses. On your death within 10 years, your family will be entitled to the basic sum assured, which they can use to support themselves in your absence.

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Investing in LIC Jeevan Shanti Can Put an End to Your Money Woes After Retirement

29 August 2022

LIC Jeevan Shanti can help you secure a lifetime pension after retirement along with a life cover on top. If you have a few years

till your retirement, you can invest now in this deferred annuity option to start receiving a monthly pension as soon as you retire. Further, on your death, LIC with return the purchase price to your dependents to help them fund their future needs.

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Secure Your Child With An Annual Income Worth Rs 8 Lakhs For 15 Years

26 August 2022

If you start investing Rs 8 Lakhs per annum in Jeevan Umang for the next 15 years, LIC will offer a guaranteed risk cover worth Rs 1 Crore.

Moreover, when the insured child reaches the age of 30, LIC will start paying him/her Rs 8 Lakhs every year till the age of 100.

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Secure Up To Rs 2 Lakhs For Your Family By Investing a Small Amount Every Month

25 August 2022

LIC Bhagya Lakshmi is a small term life insurance plan that offers financial help to your family on your unfortunate demise.

It requires a minimum premium of Rs 500 every year against which you can secure a life cover for up to 15 years. Moreover, it comes with a return of premium feature if you survive the policy term, in which case you will get 110% of the premiums back.

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LIC Micro Bachat: A Small Savings of Rs 48 Every Day Gets You Over Rs 2 Lakhs on Maturity

24 August 2022

LIC Micro Bachat (Plan No. 951) is a small savings & insurance scheme by LIC specifically for people on a budget. As a 30-year-old male, all you would need is a daily amount of Rs 48, amounting to Rs 16,387 in a year.

At the end of 10 years, LIC guarantees you a sum of Rs 2 Lakhs that you can use towards your expenses. Not just this, as an extra bonus, LIC may also add a loyalty addition to the final maturity benefit.

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Get Rs 1 Lakh Pension Every Year Plus 100% Money Back At Maturity With LIC PMVVY

23 August 2022

LIC Pradhan Mantri Vaya Vandana Yojana (PMVVY) is up for sale only till 31st March 2023. With the end date coming soon, senior citizens aged 60 and above should invest

in the scheme as soon as possible. Sold only by LIC, the scheme promises up to Rs 1.1 Lakh annual pension for the next 10 years. Additionally, get the whole purchase price back on death or at the end of the policy term of 10 years.

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LIC Aadhaar Shila Brings To You Rs 3 Lakhs & More At Just Rs 45 Per Day

22 August 2022

Specially designed for women aged 8 to 55 years, LIC Aadhaar Shila is a mix of insurance and savings product that promises up to Rs 3 lakhs on maturity.

If you pay premiums for 15 years, your monthly premium amount will be Rs 1,364, which brings your daily savings to Rs 45 only. In addition to the Rs 3 Lakhs, LIC will also reward you with a Loyalty Addition to increase your savings corpus.

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LIC’s Special Policy Revival Campaign Offers Up To 30% Concession on Late Fee Payment

19 August 2022

If your policy hasn’t matured yet and it’s been less than 5 years since the last unpaid premium, revive it now to enjoy a reduced late fee. In these uncertain and trying

times, LIC brings to you a 25% late fee concession for unpaid premium amounts up to Rs 3 Lakhs. For unpaid premiums worth Rs 3 lakhs and above, a maximum of 30% concession, subject to a maximum of Rs 3500, can be availed. This is applicable to all individual policies, except ULIPs.

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LIC Jeevan Umang: Save Only Rs 150 Daily & Secure A Lifetime Pension of Rs 80,000

18 August 2022

On top of a risk cover, LIC Jeevan Umang offers an annual survival benefit equal to 8% of the Basic Sum Assured till the date of maturity.

If you are a 30-year-old male buying a life cover worth Rs 10 lakhs, you would have to pay Rs 54,036 annually for 20 years. This requires a daily sum of Rs 150 only. As soon as you turn 50, LIC will start crediting a yearly pension of Rs 80,000 till you hit 100.

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Get Guaranteed Rs 1 Crore After Just 10 Years of Investing in LIC Jeevan Shiromani

16 August 2022

LIC Jeevan Shiromani guarantees a minimum of Rs 1 Crore in the form of survival benefits and a maturity benefit.

A monthly premium payment of Rs 95,574 over a period of 10 years, will get you survival benefits worth Rs. 30 lakhs each on the 10th and 12th policy anniversaries. Further, at the end of a 14-year policy term, you will get a lump sum of Rs 40 lakhs. This brings the total to Rs 1 Crore. On top of this, you will also earn guaranteed additions every year.

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Double your wealth now by investing as low as Rs 6,666 monthly in LIC SIIP Plan

12 August 2022

LIC SIIP is a unit-linked insurance plan that offers a risk cover and opportunities to invest in the equity market to generate high returns.

If you are 30 years old, investing Rs 80,000 annually over 20 years can double your savings to nearly Rs 32 lakhs (8% ROI p.a). At the same time, your family is guaranteed at least Rs 8 lakhs on your demise.

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With LIC Bima Jyoti, Pay Premiums for Rs.1 Crore & Get Back Rs.2 Crores on Maturity

10 August 2022

LIC Bima Jyoti offers guaranteed additions at a rate of Rs.50 per 1000 sum assured. This accrues every year until the date of maturity or death.

If you choose a sum assured of Rs.1 Crore for a policy term of 20 years, your policy will have accrued guaranteed additions worth Rs 1 Crore. This would bring the total maturity value to Rs.2 Crores.

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Secure Rs.50/- Lakhs on Maturity with LIC Jeevan Labh: Invest only Rs.623/- per day

09 August 2022

LIC Jeevan Labh is a combination scheme that offers a risk cover on the life of the insured and a lump sum maturity benefit on survival.

Start investing Rs.623/- every day for the next 16 years and you will have guaranteed yourself a corpus bigger than Rs.50/- lakhs on maturity. Further maximize your savings through bonuses by participating in LIC’s profits.

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