Best Policies To Invest In 2019

Best LIC Policies
Best LIC Policies

Disaster protection is as significant as having a sound and verified life. Nobody can exaggerated the significance of having a life coverage. It offers the required money related assurance to your family or friends and family in case of your demise.In India, a few people may consider it similarly as another cost. The inquiry you should pose to yourself that what your family and friends and family will do in the event of your death, in what capacity will they deal with their life on the off chance that you are a solitary provider. On the off chance that you are getting confounded, at that point the appropriate response is a life coverage strategy.

In India, at whatever point it wakes up protection, the primary organization that comes at the top of the priority list is none other than the Life Insurance Corporation of India. It is the most confided in brand that arrangements in a more extensive scope of extra security items. Among all the accessible choices, it turns out to be very difficult to pick the best one. To give simplicity to you, beneath is the rundown of 6 top extra security items by LIC.

Best LIC Policy-Plans Details

Disaster protection is as significant as having a sound and verified life. Nobody can exaggerated the significance of having a life coverage. It offers the required money related assurance to your family or friends and family in case of your demise.In India, a few people may consider it similarly as another cost. The inquiry you should pose to yourself that what your family and friends and family will do in the event of your death, in what capacity will they deal with their life on the off chance that you are a solitary provider. On the off chance that you are getting confounded, at that point the appropriate response is a life coverage strategy.

LIC e- Term Plan

LIC e- Term Plan

LIC e-Term plan is pure term plan offered by LIC of India. This plan offers financial protection to the insured family in case of an unfortunate event. It is online policy and no agents are required to purchase this plan. Key features and benefit detail of this plan are given below.

Key features

  • This plan is available through online mode only and no intermediaries will be involved.
  • The preferential premium rate for non-smoker and female lives.
  • Traditional and non-participating plan.
  • Pure term plan that offers only risk coverage and does not offer any benefit on maturity.

Benefits

  • High Sum assured
  • Option of choosing long tenure 35 years
  • Income tax benefit on the premium paid
  • Sum assured as a death benefit to survived family members (nominees)

Negative point – Premium amount payable in this policy is high compared to other term plans available in the market.

LIC New Children’s Money Back Plan

LIC New Children’s Money Back Plan is a non-linked, with-profit regular premium payment policy specially designed to meet educational, marriage and other needs of growing children. Moreover, this plan also provides risk cover to the insured child during the policy term.

Key features

  • Money back payment at the regular interval on survival
  • No limit on maximum basic sum assured
  • Facility to take Loan after three years

Benefits

Death Benefit

Premium payment will be paid if the death of insured occurs before the commencement of risk.
Sum assured + Final additional bonus + Accrued bonus will be paid if death occurs after the commencement of risk.
Survival Benefit

Money back payment 20% of sum assured paid after every 2 years on attaining age of 18 years.
Negative point – Maximum expected return on this plan is 5% to 6% which cannot meet the requirement for child education or marriage.

LIC New Jeevan Anand

LIC New Jeevan Anand

LIC New Jeevan Anand is a new version of Jeevan Anand Policy. LIC New Jeevan Anand is a participating & a non-linked endowment plan. The key features and benefit details of this plan are given below.

Key features

  • Financial cover for the family
  • Loan can be availed under this policy
  • Enjoy premium rebates
  • Tax benefits as applicable

Benefits

Death Benefit

In case of unfortunate demise of the life insured prior completion of the policy term, Sum Assured on Death, vested Simple Reversionary Bonuses, and Final Additional Bonus is payable.

Survival Benefit

On survival of the policyholder till the completion of the policy term, the basic sum assured, vested Simple Reversionary Bonuses and Final Additional Bonus is payable.
Additional accidental benefit disable rider can be taken along with this plan.
Negative point – Exit from this plan in an initial year is difficult. This plan offers lower returns 4-6%.

LIC Jeevan Umang

LIC Jeevan is non-linked whole life insurance product. This plan provides coverage up to 100 years of age. This plan also provides lump sum amount at maturity of term or death of the policyholder during the term.

Key features

  • Whole life insurance policy with maximum coverage up to 100 years.
  • 8% of the Sum Assured is paid as money back at the end of the term.
  • Term rider and accidental death disability rider available.
  • Loan facility and coverage of suicide clause.
  • Tax benefits as applicable.

Benefits

Death Benefit

  • Premium payment will be paid if death of insured occurs before the commencement of risk.
  • Sum assured + Final additional bonus + Accrued bonus will be paid if death occurs after the commencement of risk.
  • Survival Benefit
  • An amount equal to 8% of basic sum assured is paid to the policyholder every year till maturity.
  • Maturity Benefit

Sum Assured on Maturity along with vested recessionary bonuses and final additional bonus is paid.
Negative point – It is not pure life plan and return from this plan is poor.

LIC Jeevan Pragati

LIC Jeevan Pragati is non-linked & participating endowment plan. Automatic increase in risk coverage every five years within term is plus point about this plan. Key features and benefit details of this plan are given below.

Key features

  • Automatic increase in life cover every 5 years.
  • Option of attaching accidental death and disability riders.
  • Loan facility can be availed if premium is paid for three years.
  • Premium rebate on choosing an annual/semi-annual mode
  • Tax benefits as applicable.

Benefits

Death Benefit

  • In case of unfortunate demise of the life insured prior completion of the policy term, Sum Assured on Death, vested Simple Recessionary Bonuses and Final Additional Bonus is payable.

Survival Benefit

  • On survival of the policyholder till the completion of the policy term, the basic sum assured, vested Simple Recessionary Bonuses and Final Additional Bonus is payable.
  • Negative point – Risk coverage at a higher cost. Return from investment is low.