Life Insurance Corporation (LIC) Plans for 15 years

Here is the LIC policy list for 15 years: 

LIC New Jeevan Anand Plan 915

LIC New Jeevan Anand Plan 915 is a life insurance policy offering a combination of protection and savings. It provides life coverage for the policyholder’s lifetime and a lump sum payout at the end of the chosen policy term if the policyholder survives. It also offers benefits like loans and tax-saving options.

Key Features of LIC New Jeevan Anand Plan 915

• Traditional, non-linked, and participating whole life endowment plan.

• Provides life coverage for the policyholder's entire life.

• Death benefits payable to the nominee in case of the policyholder’s demise.

• Loan facility available after paying premiums for 2 years.

• Flexible premium payment options: yearly, half-yearly, monthly, or via salary deductions.

• Rebate on higher sum assured amounts.

• Option to receive death benefits in installments: monthly, quarterly, half-yearly, or yearly.

• Maturity benefits are available as a lump sum or in installments (5, 10, or 15 years).

• Tax-saving benefits under Section 80C and Section 10(10D) of the Income Tax Act.

Benefits of LIC New Jeevan Anand 915

• Death Benefit - If the policyholder dies during the policy term, the nominee gets the sum assured, final additional bonus (FAB), and reversionary bonuses.Death benefits are at least 125% of the basic sum assured.

• Maturity Benefit- If the policyholder survives the policy term, they receive the sum assured along with FAB and reversionary bonuses.

• Participation in Profits- The LIC Jeevan Anand 915 policy participates in company profits and may receive bonuses, provided the policy is active.

Eligibility Criteria of LIC Jeevan Anand 915

LIC Jeevan Umang Plan 745

LIC Jeevan Umang plan offers long-term protection, flexible premiums, and dual benefits, making it an excellent option for individuals seeking both life coverage and financial growth.

Features of LIC Jeevan Umang Plan-745

• Long-Term Protection: Coverage lasts until the policyholder turns 100 years old.

• Survival Benefits: Annual survival benefits are paid after the premium payment term, continuing until maturity.

• Lump Sum Maturity Benefit: At policy maturity, the insured receives a lump sum amount along with any applicable bonuses.

• Limited Premium Payments: This offers whole life coverage with fewer premium payments, providing flexibility.

• Loan Facility: Policyholders can avail loans against their policy for liquidity needs.

• High Sum Assured Rebate: A reward for higher sum assured amounts.

• Death Benefit Installments: Option to receive death benefits in installments over a fixed period.

Benefits of LIC Jeevan Umang Plan

• Death Benefit:

  • Before Risk Commencement: Nominee gets 100% of premiums paid.

  • After Risk Commencement: The nominee gets the higher of 7 times the annual premium or the basic sum assured, plus any bonuses.

• Survival Benefit: 8% of the basic sum assured paid annually after the premium payment term for as long as the policyholder survives or until maturity.

• Maturity Benefit: Basic sum assured plus any accumulated bonuses paid at the end of the term.

• Loan Facility: Loans are available after paying premiums for at least two years.

Eligibility Criteria of LIC Jeevan Umang Plan

LIC Nivesh Plus Plan 749

LIC Nivesh Plus 749 is a unit-linked plan that provides both life coverage and an investment opportunity. With flexible investment options and added benefits like guaranteed additions, Nivesh Plus 749 is a versatile choice for those seeking long-term financial growth.

Features of LIC Nivesh Plus 749

• Unit-Linked: Combines life insurance with investment options, offering the potential for wealth growth.

• One-Time Premium Payment: Requires a lump sum single premium at the start of the policy.

• Multiple Fund Options: Choose from four investment funds based on risk appetite: Bond, Secured, Balanced, and Growth Funds.

• Flexibility: Allows partial withdrawals, fund switching, and settlement options for beneficiaries.

• Guaranteed Additions: A percentage of the premium is added to the fund value at set intervals (6, 10, 15, 20, and 25 years).

Benefits of LIC Nivesh Plus 749

• Death Benefit: If the policyholder dies during the policy term, the nominee receives either the Basic Sum Assured (adjusted for withdrawals) or the Unit Fund Value.

• Maturity Benefit: If the policyholder survives the policy term, they receive the Unit Fund Value.

• Guaranteed Additions: Additional percentage of the premium added to the fund at regular intervals (e.g., 3% at 6 years, 4% at 10 years).

• Rider Benefit: Policyholders can opt for the Linked Accidental Death Benefit Rider, enhancing coverage in case of accidental death.

Eligibility Criteria of LIC Nivesh Plus 749 Plan

LIC Index Plus

LIC Index Plus is a unit-linked insurance plan that combines life cover with the potential for wealth growth. The plan provides flexible investment options, guaranteed additions, and allows partial withdrawals, making it suitable for long-term financial goals while ensuring protection for the policyholder's loved ones.

Key Features of LIC Index Plus:

• Investment Flexibility: Choose from multiple fund options based on risk preference, Flexi Growth Fund and Flexi Smart Growth Fund.

• Guaranteed Additions: A fixed percentage of the annual premium is added to the Unit Fund at specified intervals.

• Enhanced Coverage Options: Optional riders for additional protection.

• Partial Withdrawals: Access funds after five years for liquidity needs, subject to conditions.

• Switching: Change between investment funds up to four times a year free of charge.

• Settlement Option: Opt to receive death benefits in installments over 5 years.

Benefits of LIC Index Plus:

• Death Benefit:

  • Before risk coverage starts: Nominee receives the Unit Fund Value.

  • After risk coverage starts: Nominee gets the higher of the Basic Sum Assured (minus withdrawals), Unit Fund Value, or 105% of premiums paid.

• Maturity Benefit:

  If the policyholder survives until the maturity date, the Unit Fund Value is paid out.

• Refund of Mortality Charges:

  If the policyholder survives, a refund equivalent to the mortality charges paid during the policy term is offered, excluding extra underwriting charges or tax charges.

• Guaranteed Additions:

  These are credited to the policy's Unit Fund based on the annual premium and policy duration:

  • 6th Year: 3% (for premiums < ₹48,000) or 5% (for premiums ≥ ₹48,000)

  • 10th Year: 6% or 10%, increasing at subsequent intervals.

Eligibility Criteria of LIC Index Plus

LIC Jeevan Utsav

The LIC Jeevan Utsav is a comprehensive whole-life insurance plan that provides extensive protection for your family. It combines guaranteed additions and flexible premium payments, making it a reliable choice for long-term financial security. 

The Jeevan Utsav LIC plan offers the option to enhance coverage through additional riders, while providing flexibility with survival benefits like Regular Income and Flexi Income Benefits. Whether you're seeking coverage for a set term or looking for a lifetime solution, the LIC Jeevan Utsav policy has you covered.

Features of LIC Jeevan Utsav

• Whole-Life Coverage with Limited Premiums: Secure a lifetime of protection with limited premium payments under the Jeevan Utsav LIC plan.

• Income Flexibility: Choose between Regular Income Benefit or Flexi Income Benefit to match your financial goals.

• Steady Growth: The plan provides Guaranteed Additions throughout the premium-paying term, ensuring steady growth in your policy value.

• Customizable Coverage: Add optional riders to enhance protection, tailoring the plan to meet specific needs.

• Loan Facility: A loan facility is available against the policy to cater to liquidity requirements.

Benefits of LIC Jeevan Utsav

• Death Benefit: In the unfortunate event of the policyholder’s death, the nominee receives the Sum Assured on Death along with Guaranteed Additions, ensuring financial support. The benefit is at least 105% of the total premiums paid.

• Survival Benefits: Choose between two survival benefits options:

• Regular Income Benefit: Receive 10% of the Basic Sum Assured at the end of each policy year.

• Flexi Income Benefit: A flexible payout of 10% of the Basic Sum Assured annually.

• Refund for Minors: If the life assured is a minor (under 8 years) and death occurs before the risk commencement, premiums paid are refunded.

• Guaranteed Additions: Consistent accrual of Rs. 40 per thousand of the Basic Sum Assured during the premium-paying term.

Eligibility Criteria

LIC Jeevan Surabhi Plan

LIC Jeevan Surabhi was a with-profits money-back insurance plan designed for a policy term of 15 years with a premium paying term of 12 years. This plan has now been withdrawn by LIC and is no longer available for new policyholders. It offered periodic survival benefits, a fixed percentage of the Sum Assured, at specified intervals during the policy term. Additionally, it provided life insurance coverage throughout the term, with the cover amount increasing every five years.

Features of LIC Jeevan Surabhi Plan

• Limited Premium Payment: 15-year money-back plan with a shorter premium term.

• Survival Benefits: Full Sum Assured paid in parts by the end of the premium period.

• Extended Cover: Risk cover continues for 3 years after premiums are fully paid.

• Loan Option: Loan available after payment of 3 full premiums.

Benefits of LIC Jeevan Surabhi Plan

• Death Benefit: In case of the policyholder’s death during the term, the full Sum Assured plus bonuses is paid. Any Survival Benefits already received are not deducted.

• Survival Benefits: The Sum Assured is paid in parts, 30% at the end of the 4th and 8th years, and 40% at the end of the 12th year.

• Maturity Benefit: If the policyholder survives till the end of the policy term, all bonuses declared will be paid in a lump sum.

• Bonuses: As a with-profits plan, it earns Simple Reversionary Bonuses annually. Once declared, these become part of the guaranteed benefits. A Final Bonus may also be paid if the policy has been active for a minimum period.

• Optional Benefit: Additional benefits may be added to the LIC Jeevan Surabhi plan by paying extra premiums during the policy term.

Summing Up

LIC 15-year plans offer a great blend of life coverage and investment options, providing financial security for both the policyholder and their family. Whether you’re interested in the LIC 15 years plan calculator for precise projections or exploring specific LIC money back policy 15 years details, these plans present a range of options to suit varying financial needs. 

To make the most of the LIC policy list for 15 years, it’s essential to understand the different plans available, including the LIC money back policy 15 years and LIC interest rate for 15 years, which can help you achieve your financial goals effectively.

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