LIC Policy List

LIC offers a wide range of life insurance plans that helps in fulfilling the varying requirements of individuals. Among the several plans offered by the company, there are some LIC life insurance plans which are popular selling because of their comprehensive coverage features and benefits. Let’s understand the various types of LIC policies available. Here's a quick laydown of the LIC policy list:  

List of LIC policies

Among the range of life insurance plans offered by the Life Insurance Corporation of India, here we are discussing some of the popular plans, the LIC policy list, that insurer offers under the different categories: 

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

A brief description of some of these policies is given below:

1. LIC Tech Term Plan 

   It is a non-linked and non-participating plan that provides financial security to the family of the policyholder in case of his/her untimely demise during the policy tenure. The plan is only available through online mode and can be easily purchased anytime anywhere. 

   Key Features 

   • The plan offers the flexibility to select between two benefit options- Level SA and Increasing SA. 
   • Special premium rates for women and non-smoker individuals. 
   • Rebates on high sum assured amount.
   • Customization of the plan is offered as per your preferences such as you can choose policy term, premium payment term, opt for receiving the benefit in installments. 
   • The accidental Rider benefit option helps enhance the coverage by paying additional premiums. 

2. LIC Jeevan Amar 

   It is an online pure risk term insurance plan that offers financial protection to the insured’s family in case of his/her death. The plan is a non-linked and non-participating term life insurance plan that provides a range of benefits to the insurance buyer as compared to other life insurance plans.

   Key Features 

   • Increased SA (Sum Assured) and level sum assured benefit options are available.
   • Maturity Benefit is not available under the plan.
   • The premium prices are classified into two types: Smoker and Non-Smoker. Cotinine test is a mandatory medical test for non-smokers. 
   • Beneficiary/nominee will receive the death benefit if the insured dies during the plan term.
   • The death benefit can opt-in installments or a fixed amount.
   • Flexibility to pay a premium regularly or in limited or a lump sum amount. 

3. LIC Jeevan Umang

   It is an individual and whole life insurance plan that offers dual benefits – income and security to the family. The plan provides yearly survival paybacks from the end of PPT till the date of maturity. A lump sum amount is paid at the maturity date or on the insured’s death during the policy tenure. 

   Key Features 

   • The plan pays 8 percent of the sum assured amount each year on surviving the plan term.
   • Flexibility in choosing the premium payment terms.
   • Availability of riders such as accidental death, disability riders. They enhance the coverage by paying an additional premium. 
   • Offers wide coverage with 100 years’ protection.

4. LIC New Money Back 25 years

   It is a non-linked and participating individual assurance plan that offers protection against death during the plan term along with periodic payments at particular terms during the policy. 

   Key Features 

   • The plan offers an option of settlement to get the maturity benefit. You can receive the maturity benefits for a selected period such as 5, 10, 15 years. 
   • A loan facility can be availed under the plan.
   • Rebates on high sum assured are available. 
   • Tax Benefits are applicable under sections 80C and 10(10D) of the Income Tax Act 1961.

5. LIC New Jeevan Anand

   LIC New Jeevan Anand Plan is an individual life assurance, non-linked and participating plan that offers an amazing combination of family protection and savings. It provides financial security against the policyholder’s demise throughout the policy tenure. 

   Key Features 

   • The plan fulfills the requirements of liquidity by providing a loan facility. 
   • Rebates on premium payment terms are also applicable. 
   • Get the income tax benefits on paid premium as per prevailing laws of the Income Tax Act, 1961.
   • Riders such as accidental death and disability riders are also available which can be opted for by paying an extra premium. 
   • Discounts on paying premiums are also valid under this plan. 

6. LIC Jeevan Labh

   It is a non-linked and participating limited premium paying savings policy that provides dual benefits of protection and savings. It provides financial help to the policyholder’s family in occurrence of an unfortunate event during the plan term. 

   Key Features 

   • The plan offers a limited premium payment option. 
   • Policy terms of 16, 21, and 25 years are available. 
   • It is a non-linked profit plan that provides wide protection along with assured returns to the policyholder.
   • Loan facilities can be availed u/s 80C and 10(10D) of the Income Tax Act, 1961.
   • Option to receive the death benefit in installments. 

Wrapping It Up! 

There are various popular- selling plans offered by LIC that should be considered by an insurance buyer as per their requirements. However, always make sure to read the terms and conditions, features, and benefits of the plan carefully to make an informed decision.

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