LIC plans for women are designed for women who are the sole breadwinner of the family and desire to look after their family’s financial future. These plans act as an asset for those women who wish to be financially independent and want to support their husband/father in fulfilling their financial goals.Read more
LIC policies for women are the plans that allow the women to invest and secure their future life. Earlier, policies for women were not considered necessary. However, with changing times and growing awareness, policies for women have become a necessity.
Insurance policies offered by the Life Insurance Corporation of India are designed to cater to the investment needs of the women, and offers a safety net against unforeseen emergencies. These plans not only offer financial protection to the women but also provide a sense of security and help them to confidently fulfill their dreams.
Let us understand why all women should buy LIC policies for themselves:
i) Financial Independence for Women
LIC plans for women are a great tool to prepare one for future expenses. Be it fulfilling your future goals, or providing for your children's education or preparing for your retirement.
ii) Savings for your future goals
It is important for you to plan for your future goals before and after retirement. Apart from your husband’s income, it is also important for you to equally contribute towards the welfare of your household.
iii) Leaving behind the legacy for your future generations
Apart from the protection of your families, buying LIC plans for women can also help a woman to leave something behind for their children and grandchildren as a legacy.
LIC is known and trusted for developing policies that suit the changing requirements of society. Hence, below mentioned are some of the best LIC plans for women 2024 that are specially customized to meet the prerequisites of women:
LIC Aadhar Shila is especially designed for women and is one of the best available insurance policy in the market for women. It ensures savings in the long term and protection of the family in case of any eventuality. In addition, it has a wide range of benefits such as -
Death benefit: In case of the policyholder's demise within the first five years of the policy, then the nominee would receive the assured sum. In addition, if the death happens after the first five years, then the sum assured is paid along with the loyalty additions to the nominee. The death benefit can help the nominee to attain financial independence.
Maturity benefit: I If the policyholder survives till the end of the policy term, then she receives the whole amount upon reaching maturity. The maturity benefit receives is equal to the sum assured plus loyalty additions
Loyalty additions: The Company gives loyalties to its loyal customers. Hence, if the policyholder has been regular at paying the LIC premiums, loyalties may be awarded, added to the assured sum.
|Maximum Maturity Age
|75 Thousands to 3 Lakhs
LIC new Jeevan Anand is an endowment plan that is designed to offer combined benefits of life protection and savings. The plan allows a woman to secure their life as well as help them to invest their money regularly to fulfill their future goals. The benefits of this plan are:
Bonuses: The plan keeps adding the yearly bonuses, and it is paid to the insured along with the maturity sum or to the nominee after the death of the insured along with the death benefit.
Maturity benefit: If the policyholder survives the total tenure of the policy and if all the LIC premiums are paid, then he/she is paid the assured sum on maturity along with the bonuses acquired.
Death benefit: If the policyholder passes away before the policy's maturity, then the nominee receives a sum that was assured on death along with the bonuses, and the policy continues until its maturity.
|Maximum Maturity Age
|1 Lakh to No Limit
LIC Jeevan Lakshya ensures the whole family's security, primarily focusing on children. This is again an endowment plan and assures to a lump sum amount in case of the demise of the policyholder. The benefits of this plan are:
Death benefits: In case the policyholder does not survive the tenure of the policy term, then the nominee is paid the sum assured on death along with other bonuses that may have been acquired throughout the policy years.
Maturity benefits: If the policyholder survives till the end of the policy tenure then the plan will offer maturity benefits to them. This amount includes the sum assured on maturity and all the other bonuses.
Enhanced Protection: The plan comes with four additional riders which secure the policyholder and their family against the unforeseen events. The four available riders are: LIC’s New Critical Illness Benefit Rider, LIC’s Accident Benefit Rider, LIC’s New Term Assurance Rider and LIC’s Accidental Death and Disability Benefit Rider.
|Maximum Maturity Age
|1 Lakh to No Limit
All the plans mentioned above are suitable for women who desire to provide basic financial security to their families. The policies can be bought easily from the nearest LIC branch or by visiting the official website if the required documents are provided – identity proof, address proof, income proof, etc. The LIC premiums are quite affordable and can be paid monthly, quarterly, half-yearly, or yearly. A grace period of 15 days for the monthly pattern and 30 days for the other patterns are provided to make it much more suitable for the policyholders.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.
**Tax benefit is subject to changes in tax laws. Standard T&C apply.
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*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
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