An Overview on Best LIC Policies for a 27-Year-Old

One of the best investments which an individual can make is insurance. An insurance policy will not only offer protection to your family but can act as a good saving scheme as well. You must opt for an insurance policy that suits your needs. As there are several kinds of life insurance policies, it is advised that you compare the policies before narrowing down on one. When talks revolve around insurance policies, the first one which strikes everybody’s mind is the Life Insurance Corporation or LIC.

Read more
Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • ₹ 1 Crore

    Invest 10k Per Month*
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

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

Grow Your Wealth !

Best Plans With High Returns Available On One Platform

+91
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

There are many options for a LIC policy for a 27-year-old or an under-30 group. But you may have often wondered what it is about these policies which make them popular.

LIC or Life Insurance Corporation is one of the biggest players among insurance providers in India. LIC is one of the first companies to introduce insurance in India. Over the years, the company has evolved. Today, it offers a wide range of policies that support a wide customer base in India. There are several insurance policies which individuals nearing thirty can opt for. Options for a LIC policy for a 27-year-old include LIC Jeevan Saral, LIC Jeevan Anand, and LIC Jeevan Shree.

About Jeevan Saral Policy

LIC Jeevan Saral Plan is an endowment plan that comes with many flexibilities, usually available with ULIP or a unit-linked insurance plan. The key features of this LIC policy for a 27-year-old include:

  • The policyholder chooses the premium amount, and the sum assured is almost 250 times the monthly premium amount.

  • The death benefit under this plan is the sum assured+ return on premium excluding the extra riders and the first year’s premium+loyalty addition.

  • Policy term; minimum: 10 years, maximum:35 years

  • You can surrender the policy partially after three years.

  • After paying premiums for 3 years, you can expect an extended risk cover for one year.

  • Through Term Rider, Accidental Death, and Disability Benefit, a policyholder of Jeevan Saral has the option of availing a higher cover.

  • Under this policy, Loyalty Additions are provided from the 10th policy year.

Under this policy, premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income every year under section 80C. When the LIC Jeevan Saral policy matures, the insured will get Maturity Sum Assured+ Loyalty Additions, if any.

LIC Jeevan Anand

LIC’s Jeevan Anand Plan is one of the best options when it comes to policy for a 27-year-old. The endowment type is such where maturity benefit includes: Sum assured, Bonus and the final addition bonus which is paid at the end of the term. What makes this plan popular is the additional life-long insurance coverage. It is a whole life plan with guaranteed returns and is not market-based. This is a good LIC policy for a 27-year-old as it comes with an average premium, a high bonus rate, and great features. It is a Double Death Benefit Plan where the nominees get the sum assured when the policyholder dies. The policy parameters include:

Age 

Minimum Age: 18 years

Maximum Age: 50 Years 

Policy Term                                                                           

Minimum Term: 15 years

Maximum Term: 35 years 

Min. Sum Assured

Minimum Sum Assured: Rs. 1,00,000

Max. Sum Assured: No Limit

LIC Jeevan Shree

LIC Jeevan Shree Plan is mostly for the High Net Worth Individuals as the minimum sum assured is Rs.5,00,000. It is an endowment plan with a limited premium paying term, making it a suitable LIC policy for a 27-year-old who is looking for returns in the short run. Under this plan:

  • The policyholder needs to pay the premium for a maximum of 16 years.

  • The life cover will continue for the entire policy term for a maximum of 25 years.

  • When the policy matures, the sum assured+ accrued revisionary bonus+ guaranteed additions will be paid to the policyholder or the nominee in case of the early death of the life insured.

  • Every year for the first 5 policy years, there are guaranteed additions.

  • Premiums paid for the policy are exempted from tax under section 80C, and the maturity proceeds are exempted from tax under Section 10 (10D).

A 27-year-old individual will benefit from all three policies. But, he must narrow down on the best plan after comparing the top three policies of LIC for a 27-year-old. It is essential to weigh the terms of the policies and compare them with individual requirements before making the final pick.

Written By: PolicyBazaar - Updated: 02 December 2021

Investment plans articles

Recent Articles
Popular Articles
How to Invest Money

25 Nov 2021

The investment made today is the asset created for tomorrow...
Read more
Gold Bonds in India for NRIs

24 Nov 2021

Gold is an asset whose value increases over time that may be...
Read more
PIS Account for NRI

24 Nov 2021

Non-Resident Indians can operate in the recognized stock...
Read more
Process to Fill SSY Form in Post Office?

20 Nov 2021

The Sukanya Samriddhi Yojana (SSY) is a post office scheme...
Read more
How to Fill a Post Office Savings Bank Form?

20 Nov 2021

Post Office Savings Bank Account is a deposit scheme with easy...
Read more
Best LIC Policies For Investment in 2022
When it comes to purchasing a life insurance plan, 'LIC policies' are the most popular choice for customers. LIC...
Read more
Short Term Investments Options
Short-term investments can be described as temporary investments or marketable securities, which can be easily...
Read more
Post Office Monthly Income Scheme - MIS Interest Rate 2022
Are you looking for an investment avenue that is safe and secure, earns substantial returns with a short locking...
Read more
SBI Life Insurance Plans in India
SBI Life Insurance, a joint venture between State Bank of India (SBI) and BNP Paribas Assurance, provides...
Read more
State Bank Of India Investment Plans
Monthly investments plan is a popular investment options for individuals who wants to gain a profitable investment...
Read more
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL