Life Insurance Corporation (abbreviated as LIC) of India is one of the oldest and most trusted insurance corporations since 1956. It is owned and managed by the government of India under the Ministry of Finance. It is known for providing insurance policies to families with extensive benefits. The LIC policies bring income and life security under one roof.Read more
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Guaranteed maturity with life
cover for securing family's future
Tax saving under Sec 80C &
Sovereign guarantee as per
Sec 37 of LIC Act
Life is uncertain, and so for over many decades now, LIC has remained the top choice for people looking to invest in insurance policies. Everyone wants to keep his or her families safe and monetary security is the primary concern for every person alive. Therefore, keeping the uncertainty of life in mind, every bread-earning person looks for the best plans that could provide the topmost security to their families even after their death. LIC aims at just these factors.
Earlier, policies for women were not considered necessary. However, with changing times and growing awareness, policies for women are being deemed necessary.
For a long time, women were identified only as homemakers. A negligible number of women stepped out of their homes to earn money. Hence, they did not qualify to be insurance holders because it was a long-standing belief that there was more threat to the earning individuals.
Now, scenarios and mental conceptions have changed. A large number of women are working, and some are the only earning members of their families. In addition, even if they are homemakers, their health is not neglected anymore.
Women suffer more complicated health issues than men. They need more life security. If they are widows or single mothers, are working, and have a family or children to look after, then the importance of insurance policies for women becomes more urgent. Now with increasing health problems, more and more women are becoming aware of their health, and hence concern for the family is arising. Hence, arises the need and importance of policies for women.
LIC of India's new plan recognizes the challenges women face when it comes to their health issues. Women are constantly shuffling between work and home, striving to maintain the perfect balance. They have become more vulnerable to various health issues ranging from heart diseases to depression.
LIC is known and trusted for developing policies that suit the changing requirements of society. Hence, the following LIC policies are specially customized to meet the prerequisites of women:
Plan 944 of LIC of India's new plan is especially for women and is 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 -
Aadhaar Shila is a perfect choice for any working person who wants to secure her family's future. The eligibility criteria are simple. The minimum age required is 18, and the maximum age that is allowed is 55. The sum assured ranges from Rs. 75,000 to Rs. 3,00,000, and the policy can span over 10-20 years. The premium-paying period is the same as the tenure of the policy, and the maturity age of the policy is 70 years.
This is plan 915 of LIC of India's new plan and is an endowment plan. The speciality of this plan is that the policy continues even after it reaches maturity until the death of the insured. This means life-long coverage along with an assured payment on maturity. The benefits of this plan are:
Anyone between 15-50 years of age is eligible for this plan, and the maturity age for the plan is 75 years. The policy can span over 15-35 years. Premium has to be paid equal to the number of years the policy runs, and there is no maximum limit of the sum assured.
This is plan 933 of LIC of India's new planand ensures the whole family's security, primarily focusing on children. This is again an endowment plan and assures to pay the minors a lump sum amount in case of the demise of the policyholder. The benefits of this plan are:
This is an ideal policy for working single mothers, as this ensures some financial security for their children in case of any unwanted circumstances. Anyone between 18 years of age and 50 years of age can buy this policy, provided they provide all the required documents. This policy assures a minimum of 1,00,000 and has no upper limit. The policy term can span anywhere between 13-25 years, and the maturity age required is 65 years.
This is plan 838 inLIC of India's new plan and is an endowment plan. This is ideal for people who are looking for financial security and savings in the retirement period. The benefits of this plan are:
Anyone with a regular source of income under the age of 45 can buy this policy. The minimum term can be 12 years, while the maximum can be 20 years. The maturity age required is 65 years, and it assures a minimum of 1,50,000 with no upper 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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