LIC 5 Year Short Term Plans

LIC Plan 5 Years Double Money: Is It Possible?

No. LIC does not offer a plan that doubles your money in 5 years. To double money in 5 years you need about 14.9% a year. The table shows how long doubling takes at other returns, and what ₹1 lakh invested as a lump sum becomes after 5 years.

Calculated using compound growth: years to double = ln 2 ÷ ln(1 + yearly return).

LIC Best Plan for 5 Years: 2026

LIC of India, a reputed insurer, has a variety of 5-year plans to choose from, with each plan meeting the requirements of a particular segment of the population.

While the 5-year LIC policies assure protection, offer a guaranteed sum at the end of the term, and also reasonably good returns on investment, they do not double the money within five years. Thus, one should always remember that the main purpose of the LIC 5-year plans is to provide firm returns on investment at maturity rather than exact doubling of the money invested.

The following are the best LIC 5 years double money plans with policy details such as benefits and eligibility criteria:

LIC Term Assurance Plans

LIC Term Assurance plans offer protection through life insurance to the policyholder's family at an affordable premium. If the life assured or the policyholder dies during the policy term, their beneficiary will get a death benefit. Pure-term protection plans have no maturity benefit.

LIC Digi Credit Life Plan

LIC Digi Credit Life is a non-participating and a decreasing term assurance plan. A risk schedule is prepared as per your basic sum assured, policy term and interest rate that repays the loan if the policyholder unexpectedly passes away. The initial death benefit is the sum assured on death and gradually changes as per the terms in the risk cover schedule. It offers affordable premiums, digital access, and aligns with loan tenure for easy management.

Key Benefits of LIC Digi Credit Life

Death Benefit: Death payout is eligible only when the life assured passes away during the policy term and the policy is in-force.

• Under Limited Premium Payment Policy: Higher of two shall be payable at the time of death i.e. 105% of the total premiums paid till date or absolute amount assured to be paid on death.

• Under Single Premium Policy: The sum assured on death is the absolute amount assured on death as per the risk cover schedule.

Maturity Benefit: No maturity payout is payable under the LIC Digi Credit Life insurance as this is a term insurance plan.

Early Loan Repayment Options:

You can surrender your insurance policy before the end of the term and receive a surrender value equal to the Unexpired Risk Premium Value.

Ideal For:

Young professionals and salaried individuals can choose to opt for a 5 years life insurance policy with digital access being a significant factor. This is an excellent choice for people who wish to pay low premiums and manage their policies online. Later, you can also liquidate your policies in times of emergency through a 5 years double money LIC plan. While exploring an LIC Plan 5 Year Double Money scheme, note that LIC does not offer any such scheme that guarantees to double your investment within 5 years of policy term.

LIC Yuva Credit Life Plan

LIC Yuva Credit Life (Plan 877) is a non-linked and non-participating pure risk term insurance plan. This plan does not share any profits of the company. The death benefit keeps on decreasing with increasing policy years as per the risk cover schedule. The interest rates applicable for the risk cover schedule are from 6% to 12% and do not depend on the interest charged to you by the loan provider.

Key Benefits

• Death Benefit: Death payout is as per the premium payment type.

Limited Premium: Higher of either two is payable: 105% of total premiums paid till the date of death or the absolute amount assured.

Single Premium: Sum assured on death under single premium policy is the absolute amount assured on death as per the risk cover schedule.

• Maturity Benefit: No payout if the life assured lives until the end of policy term.

• Early Loan Repayment Options: The policyholder can surrender the policy to liquidate the funds and get a value equal to unexpired risk premium value

Ideal For:

It is best for young professionals and first-time policyholders who wish to opt for a loan-linked life coverage. It is ideal for individuals starting their financial journey, seeking low-cost protection, and wanting to secure their family’s financial future in case of unexpected events

LIC Pension Plans

LIC Pension Plans offer a safe investment for a person looking to maintain a comfortable lifestyle after retirement. People looking for an LIC plan 5 year double money essentially want a short term with wealth creation benefits. Through these pension plans, you can build a security blanket in the far future, thus ensuring a steady income stream even after retirement.

LIC New Jeevan Shanti

LIC New Jeevan Shanti is a pension plan that offers the option to choose between single and joint life deferred annuity. Annuity rates are guaranteed at inception and are paid after the deferment period throughout the lifetime of the policyholder.

Key Benefits

• Flexibility to choose pension amount and mode of annuity payments.

• Guaranteed regular income after retirement.

• Option to avail death benefit in installments, regular payments and even as a lump-sum.

Ideal For:

This plan is ideal for retirees and senior citizens who wish to seek guaranteed income ahead in life. This LIC plan 5 years double money offers financial stability after the retirement age by providing a payout. It is also beneficial for conservative investors who desire security over high-risk returns.

LIC Jeevan Akshay VII

LIC Jeevan Akshay VII is an immediate annuity plan. The policyholder deposits a lump sum amount and starts getting annuity payments right away.

Key Benefits

• The annuity payments commence immediately after a single premium payment.

• Flexibility to choose from 10 annuity options that cannot be altered once chosen.

Ideal For:

Such a plan is a good fit for those who are thinking ahead and want to guarantee their annuity income through a stable source like a LIC 5 year plan. If you wish for a steady source of income through guaranteed lifelong payouts, to keep your family financially secure and have different annuity options to choose from, then this plan is the best one for you.

LIC Endowment Plans

LIC Endowment Plans offer both insurance and savings. When you pay a premium, you choose a sum assured, which is paid either on survival or in the event of the policyholder's death during the term. While there is no official LIC Plan 5 Year Double Money scheme, LIC offers various savings-oriented plans that can help build wealth over time.

LIC Dhan Sanchay Plan

LIC Dhan Sanchay gives you an assured income during the payout period from the date of maturity. In case the policyholder is no more during the policy tenure, the nominee will be given the sum assured as a death benefit.

Key Benefits:

• Life insurance and savings component combination with regular income after maturity to help in long-term financial planning.

• Single Premium Level Income Benefit and Single Premium Enhanced Cover are available options for single premium payment.

• Level Income Benefit and Increasing Income Benefit are options under regular premium payments.

Ideal For:

This plan is perfect for working professionals and families who want to combine savings and life protection. It's great for people who want to cultivate a habit of investing in the long run, want to provide financial security to their dependents, and want moderate growth, hence, it will also be a good choice for people who don't want to take a lot of risks and want to have a safer investment.

Eligibility Criteria

Note: This policy is no longer available for sale, but people with LIC Dhan Sanchay can continue to avail its benefits. Buyers can access other active 5 year LIC plan chart for various policies on LIC’s official website.

LIC Micro Insurance Term Plans

LIC Micro Insurance Term Plans aim to offer low-cost life coverage and savings to low-income families in India. These plans not only ensure the financial security of your family members but also act as a savings vehicle for you. But the fact remains that no LIC plan has a 'money doubling' feature, and there isn't a particular 5 years double money maturity calculator for LIC plans on the official site.

LIC Bhagya Lakshmi Plan:

The LIC Bhagya Lakshmi Plan is a micro insurance product by LIC that guarantees returns of 110% of total premiums on maturity of the policy. The policy term is 2 years plus the premium paying term. Higher of 7 times of annualised premium or 105% of total premiums paid is the sum assured on death if the policyholder dies within the policy term.

Eligibility criteria:

• Sum Assured: Rs.50,000 - Rs.2,00,000

• Age of Entry: 42 years ( 5-year premium payment term); 55 years ( 6-13 years premium payment term)

• Age of Maturity: Up to 65 years

• Policy Term: Premium-paying term plus 2 years

• Minimum Instalment Premium: Rs.500

• Premium Payment Term: 5 to 13 years

Ideal For:

This policy is ideal for couples planning their child’s future in terms of their education and marriage. Families wanting to save systematically for long-term milestones can opt for this policy.

LIC New Jeevan Mangal Plan:

LIC New Jeevan Mangal Plan is a non-participating individual life insurance that provides returns of premiums at the maturity. It allows the customers to choose the premium paying frequency as the coverage lasts for the duration of the premium paying term. Eligibility for this LIC plan is :

• Sum Assured: Rs.50,000 - Rs.2,00,000

• Age of Entry: 18 years to 55 years

• Age of Maturity: 65 years

• Policy Term: 10 to 15 years (regular premium payments); 5 to 10 years (single premium payment)

Ideal For:

This LIC policy is beneficial for salaried employees and people seeking affordable options for protection savings benefits. Families looking for flexible premium amounts, life cover and maturity benefits can opt for it. It is suitable for people whose goal is security, long-term wealth creation and you understand the reality of LIC Plan 5 Year Double Money, then this is the right policy for you.

LIC Short Term Plan for 5 Years

An LIC short term plan for 5 years can mean two things:

• A 5-year policy term: cover and savings for 5 years, then the policy ends. Single-premium plans and some micro insurance plans offer this.

• A 5-year premium payment term: you pay premiums for 5 years, but the cover and maturity come later. This suits people who want to finish paying quickly while they're earning.

Check which one a plan offers before buying, because the maturity date and benefits differ a lot.

LIC Policy for 5 Years: ₹1,000 or ₹2,000 per Month

LIC doesn't have a separate "₹1,000 per month" or "₹2,000 per month" plan. Your monthly premium depends on the plan, your age and the sum assured you choose, so you pick a plan and set the cover to match your budget.

LIC 1000 Per Month Policy for 5 Years

With an LIC 1000 per month policy for 5 years, you'd pay ₹60,000 in total. For illustration, even if that money earned 6% a year with no insurance costs, it would grow to about ₹70,000 in 5 years. An insurance plan pays slightly less, because part of your premium pays for life cover. At this budget, look at LIC's micro insurance plans or plans with a small sum assured.

LIC 2000 Per Month Policy for 5 Years

With an LIC 2000 per month policy for 5 years, you'd pay ₹1,20,000 in total. At the same illustrative 6% a year, it would grow to about ₹1,40,000. Note that some plans have higher minimums; for example, LIC's Index Plus ULIP needs at least ₹2,500 a month.

To see the exact premium and maturity amount for any plan, use LIC's premium calculator on its official website.

Why Choose an LIC Plan for 5 Years?

Short-term plans offered by the LIC of India, commonly known as an LIC 5 year plan provide a systematic savings option along with a life insurance. It becomes ideal for people seeking protection and wealth creation under the same plan that too within a foreseeable timeline. Here's why LIC plan 5 years double money plan is the best choice:

• Low Premiums: LIC 5 years maturity plans allow people to choose different premium amounts depending on what their financial budget allows.

• Short-term Goals: Ideal for people seeking to accomplish their short-term goals like funds required for education, emergencies, marriages, or even renovating homes.

• Convertible Options: Policyholders can choose to extend their policy if required.

Before choosing a 5 year LIC plan, potential policy buyers should always see if the features, benefits and terms of the LIC policy aligns with their requirements and budget.

Key Benefits of LIC Policy for 5 Years

Below are some attractive benefits of LIC plan 5 years double money policies:

• Life Insurance: It provides financial stability to your family when the policy is active.

• Savings & Investments: It combines insurance with the investment aspect for wealth creation.

• Guaranteed Returns: Promised returns provide a peace of mind to the investor guaranteeing that the invested amount will generate effective returns.

• Loan Facility: Some LIC life insurance policies offer the option to liquidate their policy by surrendering before the maturity to recover the funds.

• Optional Riders: The policyholder can opt for optional riders to enhance the risk coverage.

You may also compute your LIC plan premium by using LIC calculators for e.g., the LIC savings plans for 5 years double money calculator.

What can you do if you want to double your money?

• Market-linked investments such as equity funds can grow faster, but nothing is guaranteed and they can fall in value. Five years is generally considered a short period for them.

• LIC's market-linked plan, Index Plus, is not a 5-year product. Its minimum policy term is 10 or 15 years, and premiums start at ₹2,500 a month.

• Fixed-return options such as bank or post office deposits protect your capital, but they grow at the slower end of the table above.

• Keep cover and savings apart. A term insurance plan gives the most cover for the lowest premium, and you can invest the rest separately.

This is general information, not investment advice. Compare costs, risks and your time horizon before you decide.

How to Select the Right LIC 5 Year Plan?

Determining a perfect LIC 5 year plan that satisfies your needs and finances can be done through:

• Set Your Goal: Decide on your financial goal whether it is to save for an event or to accumulate an emergency fund.

• Check Affordability: Choose a premium that matches your budget without putting too much strain on your finances.

• Examine Features: Identify the one that meets most of your needs, has higher returns, and provides more benefits.

• Add Riders: Select riders that will take care of your special needs, for example, a serious illness cover.

Are LIC’s 5 year Plans Worth It?

LIC's 5-year plans suit people who want life cover and disciplined saving over a short period, not fast growth.

• Life cover protects your family while the policy is in force.

• Guaranteed amounts, on plans that offer them, give certainty but modest growth.

• Surrender or loans are possible on some plans, usually at a reduced value.

• Riders can add cover for accidents or critical illness on plans that allow them.

• Low entry amounts are available on micro insurance plans.

They are worth considering for a defined short-term goal and a poor fit if you want your money to grow quickly. Check each plan's terms, exit costs and illustrated return before you buy.

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