Make Karwa Chauth Memorable By Gifting Your Wife A Life Insurance Policy from LIC

Karwa Chauth is celebrated across the country as a celebration of a couple's love for each other. While the wife fasts for her husband’s long life, the husband gives a gift as a token of his affection. This year try something different by gifting your wife a gift that keeps on giving. A life insurance policy from LIC will not only create financial security for life but also add value to her dreams. 

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Life Insurance Corporation of India has been around for almost 66 years now and has established a name for itself in the insurance sector. Most of the plans introduced by LIC are created to benefit insurance seekers in the long run. In this article, we are going to go through the plans that will be specifically good to gift your wife this Karwa Chauth.

Why Should You Gift LIC Policy This Karwa Chauth?

This year think out of the box and gift your wife a gift that she will reap benefits from for her lifetime. A LIC Policy will be the perfect Karwa Chauth gift as it will be securing her financially for life. Here is a list of all the ways in which your wife can benefit from LIC Policies

  • As a lot of women are working these days, it can be hard to save for the future while maintaining the current lifestyle. A LIC Policy will ensure your spouse is prepared for any unexpected expenses like medical emergencies.

  • The returns from these policies can be used to fund any long time goals or dreams your wife might have like buying a house or a car.

  • There are a lot of LIC pension plans available that provide regular income post-retirement. This will make sure your wife is financially independent even after retirement and is able to continue living comfortably.

  • With inflation on the rise, it is important to financially prepare for a future where your wife is able to meet all of her future expenses. LIC’s ULIP plans like SIIP and New Pension Plus create a corpus over time and grow your wealth for your wife to be able to fulfill her dreams.

Best LIC Plans You Can Gift This Karwa Chauth

We have created a list of all the LIC Plans we think would make for a great Karwa Chauth Gift. You can go through these plans and purchase the one that would be the most suitable for you and your wife’s requirements.

  1. LIC Bima Jyoti


    • Maturity benefits including the guaranteed additions will be payable at the end of the policy term on outliving the plan.

    • Guaranteed Additions at the rate of Rs. 50 per thousand will be added to the Basic Sum Assured at the end of each year.

    • Since the premium paying term ends 5 years before the policy term you get a larger cover for a smaller premium paying term.

    • Get enhanced coverage against five additional riders. These riders can be LIC Accidental Death and Disability Benefit Rider, LIC’s Accident Benefit Rider, LIC’s New Term Assurance Rider, LIC’s New Critical Illness Benefit Rider, and LIC’s Premium Waiver Benefit Rider.

    Give your wife a larger cover for a smaller premium term with LIC Bima Jyoti

    For instance, you recently purchased the LIC Bima Jyoti for your wife who was at the time of the policy purchase, 41 years old. If the policy term is selected at 20 years then you would have to pay a premium of Rs. 1,480 monthly for 15 years. At the time of maturity, your wife would receive an amount of Rs. 4 Lacs as a Maturity benefit. She can invest this amount in her post-retirement dreams and expenses.



    • Maturity Benefit payable on outliving the policy term at the end of the maturity period along with the refund of mortality charges.

    • Choose the fund type as per your risk preference from the four types of investment funds. You can also switch between the funds.

    • LIC SIIP allows guaranteed additions to the returns, added to the yearly premiums. These are added at the end of specific years of the policy term at preset percentages.

    Beat inflation by creating a corpus with LIC SIIP

    For example, you are buying the LIC SIIP for your wife who is at the time of buying the policy 32 years of age. If the policy term is 25 years and the type of fund invested in is a Growth fund with a monthly installment of Rs. 10,000, then at the end of the policy term, your wife would receive Rs. 68,80,099. This amount will ensure that your wife is comfortably able to take care of herself and be financially independent.

  3. LIC New Pension Plus


    • If the life assured outlives the policy term, an amount equal to the Unit Fund Value will be payable to the policyholder.

    • Your wife will be entitled to receive guaranteed additions as a percentage of the annual premiums at the end of specific policy years throughout the policy term.

    • You get the option of extending the policy term to enjoy the benefit of the policy for a longer period of time.

    • You also get the option of switching between the different types of investment funds offered to increase or decrease the market risk.

    Grow your money for a stress-free life with LIC New Pension Plus

    So for example, you want to buy LIC New Pension Plus for your wife who is currently 28 years old. If you purchase the plan for a policy term of 22 years, at a monthly premium of Rs. 5,000 in the pension growth fund. Then at the end of the policy term, your wife would receive an amount of Rs. 27,32,115. She can use this amount to live comfortably and maintain her lifestyle.

  4. LIC Jeevan Umang


    • The Sum Assured will be paid on maturity of the policy to your wife on outliving the policy term.

    • An 8% Survival benefit of the Basic Sum Assured will be paid each year after the end of the premium paying term that can serve as extra regular income to manage expenses.

    • The policy offers a life cover till 100 years of age which will allow your wife to be covered under the policy and enjoy its benefits for a long time.

    • Since this is a participating plan, your wife would be eligible to receive a portion of the profits declared by the company.

    • The policy provides the option of including additional riders for enhanced cover. These riders can be LIC Accidental Death and Disability Benefit Rider, LIC’s Accident Benefit Rider, LIC’s New Term Assurance Rider, LIC’s New Critical Illness Benefit Rider, and LIC’s Premium Waiver Benefit Rider.

    Financially cover your wife for her whole life with LIC Jeevan Umang

    Let us suppose, you have bought the LIC Jeevan Umang for your wife who is currently 38 years old. Since the plan is a whole-life policy, the policy term will automatically be 62 years. For a premium paying term of 30 years, the monthly premium will be Rs. 1,437. After the maturity of the policy, your wife would receive a survival benefit of 8% at the end of each year after the premium payment term ends. She can utilize this amount to fulfill any dreams or aspirations she might have.

  5. LIC New Jeevan Shanti


    • Since the annuities will be paid after the end of the deferment period, your wife can set the deferment period according to her retirement and receive the annuity as soon as she goes on retirement.

    • The regular income will be payable for as long as your wife is alive, and she can use this amount to fulfill any post-retirement dreams.

    • The policy allows single and joint life options. So your wife can opt for the plan and enjoy the policy benefits with another lineal descendant.

    Secure your wife’s post-retirement life with LIC New Jeevan Shanti

    So for instance, you are thinking of purchasing the LIC New Jeevan Shanti plan for your wife as a pension plan, who is at the age of 50 at the time. You can buy the policy for Rs. 5 Lacs with a deferment period of 10 years. After 10 years when your wife’s monthly salary stops she would still receive a regular income of Rs. 4,380 through the plan. This will help stabilize her financial situation and independence.

How To Buy The LIC Policy?

You can purchase any one of these policies online and offline. You can log on to LIC’s official website to buy the plan online or visit the nearest LIC office and agent for offline purchase. All you have to do is have the required documents relevant to the plan and you can purchase the plan in lump sum or regular premium as per the specifications of the policy.


LIC Plans as Karwa Chauth Gifts might not be the most conventional gifts but they will definitely be the most thoughtful gift. Move over the typical gifts that lose their value over time and give a gift that will financially cover her needs. This Karwa Chauth, gift a plan that will take care of the one who selflessly takes care of everyone.

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