LIC Policy List

The Life Insurance Corporation of India, LIC, was established in 1956 as the largest insurer in India. With the claim settlement ratio of 96.69% as per IRDAI Annual Report 2019-20, the company is enjoying a monopoly position in the life insurance industry. The company has a customer base of more than 250 million individuals and every customer has an inbuilt trust in LIC.

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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 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: 

LIC Policies 

Type of Plan 

Entry Age 

Maturity Age (Maximum)

Sum Assured  

Policy Term 

LIC Tech Term Plan 

Online Pure Protection Plan 

18 years to 65 years 

80 years 

Minimum: Rs. 50,00,000

Maximum: No Limit 

10 to 40 years 

LIC Jeevan Amar 

Pure Protection Term Plan 

18 years to 65 years 

80 years 

Minimum: Rs 25,00,000

Maximum: No Limit 

10 to 40 years 

LIC Jeevan Umang 

Whole Life Insurance 

90 days to 55 years 

100 years 

Minimum: Rs. 2,00,000

Maximum: No Limit 

(100 minus entry age) years 

LIC Money Back 25 years 

Money Back Policy 

13 years to 45 years 

70 years 

Minimum: Rs 1,00,000

Maximum: No Limit 

25 years  

LIC New Jeevan Anand 

Endowment Policy 

Eighteen years to 50 years 

75 years 

Minimum: Rs. 1,00,000

Maximum: No Limit 

15 years to 35 years 

LIC Jeevan Labh 

 

Savings Plan 

8 years to 50 years for 16 years PT, 54 years for 21 years PT, and 50 years for 25 years PT

75 years 

Minimum: Rs. 2,00,000

Maximum: No Limit 

 

25, 21 and 16 years 

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.

Written By: PolicyBazaar - Updated: 30 September 2021
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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