What is the LIC Policy for NRIs in the United Kingdom?
LIC plans for NRIs living in the UK are the plans that the NRIs can buy and ensure that their family’s financial future will be secured even after their demise. LIC for NRIs offers the benefits of life protection as well as helps you save a portion of your income on a regular basis. At present, LIC of India offers 32 insurance policies that are designed especially for NRIs willing to secure their families.
Best LIC Plans for NRIs in the UK
Below mentioned are some of the best LIC plans that are designed for NRIs in the UK.
Plan Name |
Entry Age |
Maximum Maturity Age |
Sum Assured (in Rs.) |
LIC SIIP |
90 days-65 years |
85 years |
7 times annualized premium* |
LIC New Jeevan Anand |
18-50 years |
75 years |
1 Lakh to No Limit |
LIC Jeevan Umang |
90 days-55 years |
100 years- Age at entry |
2 Lakhs to No Limit |
LIC Jeevan Labh |
8 years- 59 years |
75 years |
2 Lakhs to No Limit |
LIC Jeevan Lakshya |
18-50 years |
65 years |
1 Lakh to No Limit |
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A unit-linked plan where one can ensure the financial security of their loved ones. The returns from the plan help the individuals to grow their wealth and create a financial cushion for a secure future.
Key Features & Benefits
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Guaranteed additions are provided to the policyholder which is calculated as a percentage of the yearly premium. These additions are added to the fund value on completing the 6/10/15/20/25 policy years
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In case of the policyholder’s survival till the end of the policy tenure, an amount equal to the total amount of mortality charges deducted against the coverage provided will be paid along with the Maturity Benefit.
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An endowment plan which is designed to provide the policyholder with the dual benefit of life protection and savings. In addition to this, the plan also offers several optional benefits to secure the future of their loved ones.
Key Features & Benefits
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Additional coverage through LIC’s Accidental Death & Disability Benefit Rider, LIC’s New Critical Illness Benefit Rider, LIC’s Accident Benefit Rider, and LIC’s New Term Assurance Rider.
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LIC New Jeevan Anand offers death benefits as well as maturity benefits and looks after your family’s future financial needs.
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A whole-life plan that offers the benefits of life protection and savings till 100 years. The plan provides complete coverage by offering death as well as maturity benefits.
Key Features & Benefits
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One can buy a LIC Jeevan Umang policy and secure a lifetime annual income until 100 through survival benefits. These Guaranteed incomes are paid survival benefits for surviving every year till coverage ends.
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The policyholder has the flexibility to choose premium-paying terms at their convenience. The available paying terms are i.e. 15 years, 20 years, 25 years, and 30 years.
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A limited premium-paying plan wherein the policyholder only pays for a limited time period and can enjoy the benefits of life insurance and protection. The policyholder can choose to pay premiums for 10/15/16 years.
Key Features & Benefits
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The plan helps you to overcome financial emergencies by allowing the policyholders to avail of loans against their policy.
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The plan offers LIC’s Accidental Death & Disability Benefit Ride and LIC’s New Term Assurance Rider and helps you to enhance your protection.
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A life insurance policy that offers the double benefits of life protection and savings under a single policy. The plan is designed primarily for the benefit of children.
Key Features & Benefits
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The plan provides an Annual Income Benefit equal to 10% of the Basic Sum Assured from the policy anniversary that falls on or after the date of the life assured's death until the policy anniversary prior to the date of maturity.
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LIC’s Accidental Death & Disability Benefit Rider, LIC’s New Term Assurance Rider, LIC’s Accident Benefit Rider, and LIC’s New Critical Illness Benefit Rider are available to enhance the coverage of your policy.
Wrapping it Up
Buying LIC Plans for NRIs in the UK is an ideal choice if you wish to secure the future of your loved ones. The plans offered by the LIC not only help you to build a corpus over the years but also ensures that even in your absence, your family will be able to fulfill their dreams, without worrying about financial obligations.