LIC Policy for Maximum Return in 2023

LIC is the most popular choice for policy-seekers. With the uncertainty and inevitability of modern life's existence, insurance has become a requisite for Indian customers. The insurance company strengthens the policy segment of the country with its diverse range of term plans and policies. LIC of Indian policies caters to the needs of every client and provides them with life stage financial goals.

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The Life Insurance Corporation of India (LIC) is a one-stop solution for every individual determined to purchase a policy plan. LIC has a strong customer foundation, and its performance has been able to secure the base for so long.

What shall one Keep in Mind Before Purchasing a Policy?

Buying an insurance plan can be tricky for the clients with the availability of a wide range of options and additional benefits. The basic features, which are essential to look at, and the clients should take into consideration before purchasing a plan or policy is:

  • Motive: Before buying a policy, the customers need to sort out their motives and check whether their desired plans fulfill the demands and purpose of their purchase.
  • Additional Benefits: The customers need to wisely choose a plan, which offers additional benefits during hard times.
  • Maximum Return: In order to determine a plan with maximum return, one needs to check the additional benefits and calculate the ROI accordingly.
  • Duration: The client should select the term of the policy according to the investment tenure. One should choose a policy term for ten years if one needs financial protection for ten years.
  • Types: The types of plans are also a domain to look through before buying a particular plan. One shall choose ULIPs only if they are willing to take a risk, and for others, endowment and money-back plans are some safer options.

What is the Maximum Return in LIC Policies? 

Before purchasing a plan, the customers always urge to know what the plan offers first. If a plan gives you additional benefits and features like "Money back Payment" over the sum assured by the insurer, then that plan is giving you a lucrative return. Investing in the right kind of plan can help the customer in getting the highest return. LIC of Indian policies look after the needs of Indian customers and can provide you with higher returns than other insurers in the insurance market. 

LIC Plans for Maximum Return

In order to simplify the hassle of choosing a perfect plan for the desired financial coverage, the following are the best LIC policies for the highest return in 2023:

  1. LIC Jeevan Amar Plan:

    This protection plan is the best LIC policy if one wants to secure the family's future financial demands and liabilities. The plan offers the clients additional benefits and can be availed easily with the required documents. The features, which the article shall mention are:

    • This plan comes with two options of benefits, Level Sum Assured and Increasing Sum Assured.
    • The policyholder can also choose from three options of premium payment: Single Premium Payment, Regular Premium Payment, and Limited Premium Payment.
    • The client can also choose the active tenure of the policy as per the convenience of the client.
    • In order to avail of a benefit, the client can make the payment in installments under this plan.
    • The plan offers High Sum Assured Rebate benefits.
  2. LIC Jeevan Umang Plan:

    This is the best LIC policy, which comes with double benefits of savings and earnings for financial coverage of the family. A fixed guaranteed amount is paid to the policyholder at the official end of tenure. The plan comes with an exceptional feature of 100 years coverage and benefits such as:

    • If the client survives the tenure, then 8% of the sum assured is paid every upcoming year.
    • The policyholder can avail of accidental death and rider benefits.
    • On the maturity of the policy, the sum assured, including reversionary bonuses to the final bonus, is paid.
    • After retirement, the policy can serve as a pension plan.
    • The loan facility is available under the lucrative and non-linked whole life insurance plan.
    • The modes of the premium payment that the clients can avail themselves of are Yearly, Half-Yearly, Quarterly, and Monthly.
  3. LIC Money Back 25 Plan:

    This plan is the best LIC policy if one is looking for a plan with limited premium payment. The plan supports the family's financial demands during unfortunate circumstances like the death of the policyholder. The plan provides a lump sum amount if the policyholder survives the precisely required duration during the term of the policy. The plan also offers returns at a specified duration throughout the process. The plan has a plethora of features and benefits such as:

    • Death Benefits: The amount, which is guaranteed at the time of death will be 125% more than the Basic Sum Guaranteed, or 7 times the Annualized Premium. The death benefit, which the insurer will pay, will be a minimum of 105% of the total premium paid till the death.
    • Maturity Benefits: If the policyholder survives the term maturity, then the maturity value, including reversionary bonuses and additional bonuses, will be paid by the insurer. The maturity value will be equal to 40% of the basic sum assured.
    • Survival Benefits: If the policyholder survives a required specific duration during the tenure, then every 5 years, the plan will provide them with 15% of the basic sum assured.
  4. LIC New Endowment Plus Plan:

    This plan is a non-participating unit-linked insurance policy. This is the best LIC policy in the category of ULIP and allows the client to invest in equity and debt by providing four different combinations of funding types. The premium, which is paid by the policyholder, is invested in the type of fund selected by the client. The policy comes with benefits such as:

    • Types of funds, which are available in the policy are Growth Fund (40% to 80% are invested into shares), Balance Fund (30% to 70% are invested into equity shares), Secured Fund (15% to 55% are invested into shares), and Bond Fund.
    • The client can customize the plan with additional rider benefits. This enhances the financial coverage and benefits the client gets from the plan.
    • This plan offers the investors to withdraw from the policy after completing 5 years in fulfillment of the given terms and rules.
    • Death benefits and survival benefits are also available in the ULIP policy.
  5. LIC New Jeevan Anand Plan:

    As one of the best LIC policies, the plan promises to give coverage and savings benefits. The plan protects the life stage financial goals of the family during the unfortunate death of the earning member. The plan also provides a lump sum during the maturity of the plan as a maturity benefit. The plan also has a loan facility in order to look after the liquidity needs of the family. The benefits that the plan offers are:

    • On the policyholder's death, the plan will provide the beneficiary with the sum assured on death with additional bonuses, which will also be 125% of the basic sum assured or 7 times more than the annualized premium. On the policyholder's death after the tenure's expiration, the nominee will be paid the basic sum guaranteed.
    • If the policyholder survives the whole tenure of the policy, then the sum assured on maturity will be paid, including the additional bonuses.
    • The beneficiary can receive the death benefits in installments as per the beneficiary's convenience.
    • Regular premium payment or deduction from salary is the two options the clients get in the premium payment.
  6. LIC Tech Term Insurance Plan:

    The customer can purchase an online and user-friendly plan through the insurer's official portal. In this plan, the customers can choose their convenient online payment mode to pay the premium charges. The plan provides some benefits, which makes it a plan with the highest return. Those benefits are:

    • The plans offer special rates for female clients.
    • Like the LIC Jeevan Amar plan, this policy also comes with two Level Sum Assured and Increasing Sum Assured options.

    In Level Sum Assured, the amount guaranteed to be paid on death remains the same throughout the tenure. Whereas in Increasing Sum Assured, the amount assured remains the same for the first 5 policy years. After the fifth year, the assured amount increases by 10% each year until the 15th year and becomes twice the sum assured. After 15 years, the sum assured will be twice that of the beginning.

    • Accidental death rider benefit is also available in the plan.

The Bottom Line

These are the most lucrative insurance plans for policy-seekers. In order to purchase a plan with maximum return, one needs to go through the death benefits, maturity benefits, survival benefits, and other additional benefits, which the plan promises to provide. The clients can invest in the plans with maximum return according to their needs and affordability.

The LIC of Indian policies has been the most reputed insurance company and securely solved the financial problems of the clients. With the wide range of LIC policies, these are the best LIC policies for the highest return and additional benefits, which acts as an advantage in further securing the monetary needs.

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

*The investment risk in the investment portfolio is borne by the policyholder.

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C applies.

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