LIC Policy List

LIC offers various life insurance and investment products to cater to different insurance needs. Every LIC Plan is designed to offer complete protection to the policyholder and their family members. With the availability of several plans, one can choose their preferred LIC policy according to their needs and requirements.

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List of Best LIC policies

LIC of India is important in securing our future and protecting our loved ones. The plans offered by LIC are customized to fit perfectly with your financial goals and risk profiles. For the past 6 decades, LIC has been a reliable partner for millions of individuals and families.

With so many LIC plans available, choosing the right one that suits your requirements and caters to specific needs can be confusing. Understanding the features and benefits and how they align with individual requirements is crucial.

Below is the list of LIC policies categorized by their types: 

LIC Policies  Plan Type Age at Entry  Policy Term  Maximum Maturity Age
LIC Index Plus ULIP Plan 90 days- 60 years 10-25 years 85 years
LIC Nivesh Plus ULIP Plan 90 days- 70 years 10-25 years 85 years
LIC Jeevan Umang Whole-Life Plan 90 days-55 years 15/20/25/30 years 100 years
LIC Jeevan Utsav Whole-Life Plan 90 days- 65 years NA 100 years
LIC New Pension Plus Pension Plan 25 years-75 years NA 85 years
LIC New Jeevan Shanti Pension Plan 30 years-79 years NA 80 years
LIC New Jeevan Anand Endowment Plan 18 years- 50 years 15 years-35 years 75 years
LIC New Jeevan Amar Term Insurance Plan 18 years-65 years 10-40 years 80 years

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

Read the brief description of the plan mentioned above:

  1. LIC Nivesh Plus

    LIC Nivesh Plus is a single-premium ULIP Plan that offers the dual benefits of wealth creation and life insurance coverage. The plan offers four fund options and allows the policyholder to choose the fund that fits their risk appetite.

    Features of LIC Nivesh Plus

    • The plan offers flexible policy terms ranging from 10 to 15 years. The policyholder can choose the ideal term for different financial goals and life stages.

    • Policyholders receive guaranteed additions to their policy unit fund at specific intervals, which enhances the overall fund value over time and provides additional financial security.

    • After the fifth policy anniversary, policyholders can withdraw partially from their fund value, providing liquidity for unforeseen expenses. 

  2. LIC Index Plus

    LIC Index Plus is a ULIP Plan combining life protection and wealth creation. The plan provides financial security to your loved ones and helps you grow your money to fulfil your future financial needs.

    Features of LIC Index Plus

    • The plan allows the policyholder to choose their investment funds and customize their plan according to risk appetite. There are two fund options available:

      • Flexi Growth Fund, which is benchmarked against the NSE Nifty100 index,

      • Flexi Smart Growth Fund, which is benchmarked against the NSE Nifty50 index.

    • In addition to the market returns, the policyholder will receive Guaranteed Additions from the company and add them to the unit fund. 

    • On survival till maturity, the policyholder will receive a refund. This refund will equal the total charges deducted for providing life insurance coverage throughout the policy term.

  3. LIC Jeevan Umang

    LIC Jeevan Umang is an individual and whole life insurance plan that offers dual benefits—income and family security. The plan provides yearly survival paybacks from the end of PPT until maturity. A lump sum is paid at maturity or on the insured’s death during the policy tenure.

    Features of LIC Jeevan Umang:

    • The plan covers the policyholder's entire lifetime, ensuring lifelong protection and financial security for the insured and their family.

    • The policy offers annual survival benefits, a percentage of the sum assured, paid to the policyholder during the policy term from the end of the premium paying term until maturity or death, whichever is earlier.

    • After the policy acquires a surrender value, policyholders can avail of loan facilities against it, offering them additional financial flexibility during emergencies.

  4. LIC Jeevan Utsav

    LIC Jeevan Utsav is a whole-life insurance plan that protects the policyholder and provides financial support to the family in case of their unfortunate demise. The plan offers survival benefits in the form of Regular or flexi income benefits, as per the option chosen for the surviving policyholder.

    Features of LIC Jeevan Utsav:

    • At the end of your premium payment term, this plan will provide a Regular Income Benefit equal to 10% of the Basic Sum Assured. One also has the option to choose a Survival Benefit called a Flexi Income Benefit. With this benefit, you can receive the income annually or accumulate it at a rate of 5.5% annually.

    • During your premium payment term, you'll receive Guaranteed Additions every year, equal to Rs. 40 for every thousand of the Basic Sum Assured.

    • One can enhance their coverage by adding additional riders to their base policy. The plan offers five riders that protect you from life’s uncertainties.

  5. LIC New Pension Plus

    LIC New Pension Plan is a pension savings plan that helps policyholders secure their post-retirement lives. Through this plan, systematic and disciplined savings can be made, which can be converted into regular income. The plan gives you a choice of investing premiums in one of the four types of investment funds and allows you to customize your plan as per your needs.

    Features of LIC New Pension Plus:

    • Choose single or regular premiums with yearly, half-yearly, quarterly, or monthly payment modes.

    • Four fund types are available for premium investment, allowing choices based on risk appetite.

    • Earn additional units as per policy milestones, adding to your fund’s value.

    • The plan offers a death benefit and vesting options, including purchasing annuities or lump-sum withdrawals.

  6. LIC New Jeevan Shanti

    LIC New Jeevan Shanti is a single premium deferred annuity plan. The plan allows policyholders to choose between a Single life and Joint life Deferred annuity and ensures they receive a stable income stream after retirement.

    Features of LIC New Jeevan Shanti:

    • It is a single premium plan, which means that policyholders need to make a one-time premium payment, and they can choose their investment amount.

    • The plan offers immediate and deferred annuity options, allowing policyholders to opt for regular payouts immediately or defer them later.

    • The plan guarantees a fixed income stream throughout the annuity, providing financial security during retirement.

  7. LIC New Jeevan Anand

    LIC New Jeevan Anand is an endowment plan that offers financial protection against death throughout the policyholder's lifetime, along with a lump-sum payment at the end of the policy term if the policyholder survives. It combines savings with lifetime insurance coverage.

    Features of LIC New Jeevan Anand Plan:

    • It offers financial protection to beneficiaries with a sum assured in case the policyholder dies during or after the policy term.

    • The plan participates in LIC's profit-sharing, making the policy eligible for additional bonuses and enhancing returns.

    • The plan provides additional protection through riders

  8. LIC New Jeevan Amar

    LIC New Jeevan Umar is an online pure-risk term insurance plan that offers financial protection to the insured’s family in case of death. The plan is a non-linked and non-participating term life insurance plan that provides a range of benefits to the policyholder.

    Features of LIC New Jeevan Amar:

    • Policyholders can choose from various premium payment options, including single premium, regular premium, and limited premium payment terms.

    • Policyholders can select either the Level Sum Assured or Increasing Sum Assured as the death benefit payout, catering to different financial needs.

    • Jeevan Amar allows policyholders to enhance their coverage by adding optional riders such as Accidental Death and Disability Benefit Rider and LIC's New Term Assurance Rider.

Summing It Up! 

Life Insurance Corporation of India (LIC) offers a comprehensive range of insurance policies that are customized to meet the different needs of individuals and families. Whether providing lifelong coverage with participating bonuses from LIC Traditional plans or creating a corpus for retirement with LIC ULIP or Retirement Plans, LIC ensures customers have enough choices to secure their financial future and protect their loved ones.

FAQs

  • Q: Where can I get detailed information on LIC policy?

    Ans: You can access LIC policy details through LIC's official website, branch offices, or insurance agents. Each policy has a brochure and detailed guidelines explaining its features, benefits, eligibility, and terms.
  • Q: Can I get LIC policy details for specific plans?

    Ans: Yes, LIC policy details for specific plans like Jeevan Amar, New Jeevan Anand, and Pension Plus are available in the brochures or on the official website. These documents explain features, terms, and benefits in detail.
  • Q: How can I find the list of LIC policies?

    Ans: The complete list of LIC policies is available on the official LIC website or through authorized agents. These policies include ULIPs, Whole Life Plans, Pension Plans, Endowment Plans, and Term Insurance Plans. Choose a plan that aligns with your financial goals.
  • Q: How can I choose the right LIC policy for my needs?

    Ans: To choose the right LIC policy, consider factors such as your financial goals, risk tolerance, and the duration of coverage needed. LIC offers a variety of policies, including endowment plans, term insurance, and ULIPs, each catering to different needs.
  • Q: What is the difference between term insurance and endowment plans offered by LIC?

    Ans: Term insurance provides pure life coverage for a specified term, while endowment plans combine insurance coverage with savings and investment components. Term plans are cost-effective and provide a higher coverage amount, while endowment plans offer maturity benefits and life coverage.
  • Q: Can I customize my LIC policy to suit my specific requirements?

    Ans: Yes, LIC policies often come with customization options. You can choose riders (additional benefits) to enhance your coverage, opt for various premium payment frequencies, and select the policy term that aligns with your financial goals.
  • Q: How do I pay premiums for my LIC policy, and what are the available payment modes?

    Ans: LIC offers various premium payment options, including online payments, through agents, at LIC branches, or through authorized banks. You can choose the mode that is most convenient for you – be it monthly, quarterly, half-yearly, or annually.
  • Q: What happens if I miss paying a premium for my LIC policy?

    Ans: LIC usually provides a grace period during which you can pay the premium even if you miss the due date. The policy may lapse if the premium is not paid within the grace period. However, LIC often allows policyholders to revive lapsed policies within a certain timeframe by paying the due premiums and any applicable penalties.
  • Q: Can I surrender my LIC policy before the maturity date?

    Ans: Yes, LIC policies can be surrendered before maturity. However, surrendering a policy may lead to financial losses, and the surrender value may be lower than the total premiums paid.
  • Q: How does the claim settlement process work with LIC policies?

    Ans: In the event of the policyholder's demise, the nominee must inform LIC and submit the required documents, including the death certificate and policy documents. LIC has a streamlined claims settlement process, and the claim amount is disbursed to the nominee after verification.
  • Q: Can I take a loan against my LIC policy?

    Ans: Yes, LIC policies often offer the option to take out loans against the policy's surrender value. The loan amount is usually a percentage of the surrender value, and interest rates may apply. Loan repayment is flexible and can be made over the policy term.

*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
++Returns are 10 years returns of Nifty 100 Index benchmark
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

LIC of India
LIC Plans
LIC Amritbaal
LIC Index Plus
LIC Jeevan Dhara II-872
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
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