LIC Policy List

List of Best LIC policies

LIC of India is important in securing our future and protecting our loved ones. The plans offered by LIC are customized to fit perfectly with your financial goals and risk profiles. For the past 6 decades, LIC has been a reliable partner for millions of individuals and families.

With so many LIC plans available, choosing the right one that suits your requirements and caters to specific needs can be confusing. Understanding the features and benefits and how they align with individual requirements is crucial.

Below is the list of LIC policies categorized by their types: 

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Read the brief description of the plan mentioned above:

1. LIC Nivesh Plus

   LIC Nivesh Plus is a single-premium ULIP Plan that offers the dual benefits of wealth creation and life insurance coverage. The plan offers four fund options and allows the policyholder to choose the fund that fits their risk appetite.

   Features of LIC Nivesh Plus

   • The plan offers flexible policy terms ranging from 10 to 15 years. The policyholder can choose the ideal term for different financial goals and life stages.

   • Policyholders receive guaranteed additions to their policy unit fund at specific intervals, which enhances the overall fund value over time and provides additional financial security.

   • After the fifth policy anniversary, policyholders can withdraw partially from their fund value, providing liquidity for unforeseen expenses. 

2. LIC Index Plus

   LIC Index Plus is a ULIP Plan combining life protection and wealth creation. The plan provides financial security to your loved ones and helps you grow your money to fulfil your future financial needs.

   Features of LIC Index Plus

   • The plan allows the policyholder to choose their investment funds and customize their plan according to risk appetite. There are two fund options available:

     • Flexi Growth Fund, which is benchmarked against the NSE Nifty100 index,

     • Flexi Smart Growth Fund, which is benchmarked against the NSE Nifty50 index.

   • In addition to the market returns, the policyholder will receive Guaranteed Additions from the company and add them to the unit fund. 

   • On survival till maturity, the policyholder will receive a refund. This refund will equal the total charges deducted for providing life insurance coverage throughout the policy term.

3. LIC Jeevan Umang

   LIC Jeevan Umang is an individual and whole life insurance plan that offers dual benefits—income and family security. The plan provides yearly survival paybacks from the end of PPT until maturity. A lump sum is paid at maturity or on the insured’s death during the policy tenure.

   Features of LIC Jeevan Umang:

   • The plan covers the policyholder's entire lifetime, ensuring lifelong protection and financial security for the insured and their family.

   • The policy offers annual survival benefits, a percentage of the sum assured, paid to the policyholder during the policy term from the end of the premium paying term until maturity or death, whichever is earlier.

   • After the policy acquires a surrender value, policyholders can avail of loan facilities against it, offering them additional financial flexibility during emergencies.

4. LIC Jeevan Utsav

   LIC Jeevan Utsav is a whole-life insurance plan that protects the policyholder and provides financial support to the family in case of their unfortunate demise. The plan offers survival benefits in the form of Regular or flexi income benefits, as per the option chosen for the surviving policyholder.

   Features of LIC Jeevan Utsav:

   • At the end of your premium payment term, this plan will provide a Regular Income Benefit equal to 10% of the Basic Sum Assured. One also has the option to choose a Survival Benefit called a Flexi Income Benefit. With this benefit, you can receive the income annually or accumulate it at a rate of 5.5% annually.

   • During your premium payment term, you'll receive Guaranteed Additions every year, equal to Rs. 40 for every thousand of the Basic Sum Assured.

   • One can enhance their coverage by adding additional riders to their base policy. The plan offers five riders that protect you from life’s uncertainties.

5. LIC New Pension Plus

   LIC New Pension Plan is a pension savings plan that helps policyholders secure their post-retirement lives. Through this plan, systematic and disciplined savings can be made, which can be converted into regular income. The plan gives you a choice of investing premiums in one of the four types of investment funds and allows you to customize your plan as per your needs.

   Features of LIC New Pension Plus:

   • Choose single or regular premiums with yearly, half-yearly, quarterly, or monthly payment modes.

   • Four fund types are available for premium investment, allowing choices based on risk appetite.

   • Earn additional units as per policy milestones, adding to your fund’s value.

   • The plan offers a death benefit and vesting options, including purchasing annuities or lump-sum withdrawals.

6. LIC New Jeevan Shanti

   LIC New Jeevan Shanti is a single premium deferred annuity plan. The plan allows policyholders to choose between a Single life and Joint life Deferred annuity and ensures they receive a stable income stream after retirement.

   Features of LIC New Jeevan Shanti:

   • It is a single premium plan, which means that policyholders need to make a one-time premium payment, and they can choose their investment amount.

   • The plan offers immediate and deferred annuity options, allowing policyholders to opt for regular payouts immediately or defer them later.

   • The plan guarantees a fixed income stream throughout the annuity, providing financial security during retirement.

7. LIC New Jeevan Anand

   LIC New Jeevan Anand is an endowment plan that offers financial protection against death throughout the policyholder's lifetime, along with a lump-sum payment at the end of the policy term if the policyholder survives. It combines savings with lifetime insurance coverage.

   Features of LIC New Jeevan Anand Plan:

   • It offers financial protection to beneficiaries with a sum assured in case the policyholder dies during or after the policy term.

   • The plan participates in LIC's profit-sharing, making the policy eligible for additional bonuses and enhancing returns.

   • The plan provides additional protection through riders

8. LIC New Jeevan Amar

   LIC New Jeevan Umar is an online pure-risk term insurance plan that offers financial protection to the insured’s family in case of death. The plan is a non-linked and non-participating term life insurance plan that provides a range of benefits to the policyholder.

   Features of LIC New Jeevan Amar:

   • Policyholders can choose from various premium payment options, including single premium, regular premium, and limited premium payment terms.

   • Policyholders can select either the Level Sum Assured or Increasing Sum Assured as the death benefit payout, catering to different financial needs.

   • Jeevan Amar allows policyholders to enhance their coverage by adding optional riders such as Accidental Death and Disability Benefit Rider and LIC's New Term Assurance Rider.

Summing It Up! 

Life Insurance Corporation of India (LIC) offers a comprehensive range of insurance policies that are customized to meet the different needs of individuals and families. Whether providing lifelong coverage with participating bonuses from LIC Traditional plans or creating a corpus for retirement with LIC ULIP or Retirement Plans, LIC ensures customers have enough choices to secure their financial future and protect their loved ones.

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