If you struggle with choosing the perfect gift for your sibling(s) every Rakhi, we have got you covered. This Rakhi, gift your sister the best protection in the form of long-term financial support. Gifting LIC savings plans will not only create a long-term financial safety net for your sister but also protect them when you are not around anymore.Read more
Raksha Bandhan is the perfect occasion to celebrate the special relationship that you have with your siblings. While you are at it, why not do things a little differently this time and give them what could be the most thoughtful gift ever? Gift LIC plans to secure a big corpus for your sister and ensure comprehensive protection even in your absence.
Here is a look at some of the best LIC plans to gift your sister this Rakhi to secure her financial future and equip her to pursue her dreams.
|Name of the Plan||Type of Plan||Entry Age||Sum Assured|
|LIC SIIP Plan||Unit-linked insurance plan (ULIP)||90 days - 65 years||7 - 10 times the annualized premium|
|LIC Jeevan Labh||Traditional savings plan||8 years - 59 years||Min - Rs.2,00,000 Max - No Upper Limit|
|LIC Bima Ratna||Money Back Plan||90 days - 55 years||Min - Rs.5,00,000 Max - No Upper Limit|
|LIC Bima Jyoti Plan||Endowment Plan||90 days - 60 years||Min - Rs.1,00,000 Max - No Upper Limit|
|LIC New Jeevan Anand||Endowment Plan||18 years- 50 years||Min - Rs.1,00,000 Max - No Upper Limit|
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer. The tax benefit is subject to changes in tax laws. *Standard T&C Apply
Here is a brief on how these plans can be the perfect gift for your sister this Rakhi.
You get to invest a small amount regularly in equity & debt funds so that your sibling can enjoy high returns in the future (based on market performances).
If the chosen fund is not performing well, you get to switch to a different one at no cost to ensure that the final payout is always optimal.
The final fund value along with the accumulated returns will be paid to your sister on the date of maturity.
It increases the final payout at maturity through a simple reversionary bonus and a final additional bonus.
It comes with a sum assured on death that is paid to the family on the death of the life assured under the policy.
There is no limit to the maximum amount that one can assure. So you can secure a sum as big as you please to help your sibling.
Your sibling gets a percentage of the sum assured (survival benefits) at regular intervals to help her fulfill important milestones.
It maximizes your savings through guaranteed additions to the sum assured.
You can add the LIC New Critical Illness Benefit Rider to help her fund treatment after being diagnosed with a critical illness.
You get to save systematically over the years so that your sibling can benefit from a lump sum of these savings at the time of maturity.
LIC makes guaranteed additions to the promised sum assured, which increases the final payout for your sister to enjoy.
You can also create a temporary income stream for your sibling by ensuring that the sum assured on maturity comes in installments instead of a lump sum.
This is another savings plan that comes with insurance protection.
Since there is no cap on the sum assured, you can create a corpus big enough for your sibling to survive on for a long time.
In the case of an urgent need for money, the plan offers a loan facility.
All the plans discussed above come with insurance protection along with savings opportunities. Even in your absence, these plans can continue to serve your sister throughout her life. By investing in one of the best LIC plans, you are gifting someone long-term protection and something of value to be cherished for years to come.
Moreover, the life insurance plans by LIC come with a lot of flexibility, offering enough room for policyholders to customize them according to their unique needs. The ease of buying, additional bonuses, discounted premiums, claim support, tax benefits, etc. are more reasons why LIC plans make a valuable investment.
Buying a LIC plan can be the best Rakhi gift this season. Insurance protection increased savings, and market-linked returns are key reasons why you should consider gifting a LIC plan to your sibling, instead of something that does not hold a lot of value.
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*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
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ