LIC Savings Plans

List Of LIC Savings Plans

* Note - Range varies as per the policy term chosen, among other aspects such as premium paying term.

Key Features Of LIC Savings Plans

1. LIC’s Dhan Rekha

   • 10% to 20% of the BSA is offered to the life assured on surviving certain policy years. 

   • Guaranteed additions up to Rs. 60 per Rs. 1000 BSA accrues from the 6th policy year till maturity. 

   • It comes with a lot of flexibility in choosing the policy term (20, 30, or 40 years) and in terms of premium payment (single/limited).

   • If the policy is issued in the name of a child, it shall vest in his/her name itself when they reach the age of 18 years. 

   • Rebates are offered in premiums on choosing a sum assured above Rs. 5 Lakhs and on choosing yearly or half-yearly modes of premium payment. 

2. LIC's New Jeevan Anand

   • Policyholders can avail of the loan against the basic sum assured under the policy. 

   • On the maturity of the policy, a lump sum amount equal to the BSA plus vested Simple Reversionary Bonuses and Final Additional Bonus is paid. 

   • The death benefit is payable along with the abovementioned bonuses if the death of the life assured occurs within the policy term. 

   • The policy term or the duration of the insurance cover under this policy can range from 15 to 35 years. 

3. LIC's Jeevan Labh

   • Death and maturity benefit will be paid along with applicable bonuses if the conditions are met. 

   • The policy term options are 16, 21, and 25 years. The corresponding premium paying terms are 10, 15, and 16 years. 

   • Both the types of benefits, death or maturity, can be received in installments over a period of 5, 10, or 15 years. 

   • Additional benefit can be claimed if riders against accidental death, disability, critical illnesses are opted for. 

4. LIC's New Bima Bachat 

   • It comes with survival benefits wherein 15% of the basic sum assured is paid at periodic intervals. 

   • The death benefit is payable along with Loyalty Additions if the death of the life assured occurs within the policy term. 

   • Maturity benefit is equal to the lum sum premium paid at the time of policy issuance. 

   • Policyholders can choose from a policy term of 9, 12, or 15 years. 

   • Extra protection against death and disability can be availed. 

5. LIC's Single Premium Endowment Plan

   • Sum assured on death of the policyholder is paid along with vested Simple Reversionary Bonuses and Final Additional Bonus. 

   • Maturity benefits are comprised of the basic sum assured and are paid along with the abovementioned bonuses. 

   • Both the maturity and the death benefit can be claimed in installments. 

   • The premium for this plan has to be paid as a lump sum amount. 

   • The policy term can range from 10 to 25 years. 

6. LIC's New Money Back Plan-20 Years

   • The policy term can be a maximum of 20 years and the premium paying term of 15 years. 

   • The death benefit is equal to 125% of the BSA or 7 times the annual premium, whichever is higher at the time of death. 

   • Policyholders are entitled to survival benefits equal to 20% of the BSA, payable on the completion of the 5th, 10th, and 15th policy years. 

   • Sum assured of the maturity of the policy is equal to 40% of the BSA and is paid along with the applicable bonuses. 

7. LIC's Bima Shree

   • Policyholders can avail of the loan facility if two years’ premiums have been paid. 

   • A guaranteed addition of Rs. 50-55 per Rs. 1000 of the BSA is added till the end of the premium paying term. 

   • The policy term can be chosen from 14, 16, 18, or 20 years. The premium paying term will be equal to the policy term minus 4 years. 

   • Death and maturity benefits are payable along with the accrued guaranteed and loyalty additions. 

   • Based on the policy term chosen, survival benefits as a percent of the BSA shall be payable at different policy years. 

8. LIC’s Jeevan Lakshya

   • Policyholders can claim an annual income benefit equal to 10% of the BSA. 

   • Death and maturity benefits are payable with vested Simple Reversionary bonuses and Final Additional bonus. 

   • Enhanced protection against accidental death, disability, and critical illnesses can be availed of with the rider options. 

   • The benefits can be claimed in installments instead of a lump sum payout. 

9. LIC’s New Endowment Plan

   • The death benefit can be claimed against the death of the life assured along with bonuses. 

   • Maturity benefit is equal to the basic sum assured. 

   • Extra protection against accidental death, disability, and critical illness can be availed on paying additional premiums. 

   • The death benefit is payable in monthly, quarterly, half-yearly, and yearly installments. 

10. LIC's Bima Jyoti

    • It comes with guaranteed additions of Rs. 50 per Rs. 1000 BSA, added at the end of each policy year. 

    • Death and maturity beenfit payouts are done along with the accrued guaranteed additions. 

    • The policy term can range from 15 to 20 years. The premium paying term is defined as the policy term minus 5 years. 

    • The premium waiver rider can be opted for if the policy has been issued in the name of a minor. 

11. LIC’s Bachat Plus

    • There are several options in the death benefit payout based on the premium paying mode chosen (single or limited). 

    • Maturity benefit is equal to the BSA and is paid along with loyalty additions. 

    • Loyalty additions are applicable on completing 5 policy years and if all the premiums have been paid. 

    • Benefits can be claimed in installments. 

12. LIC's Aadhaar Shila & LIC's Aadhaar Stambh

    • Aadhaar Shila is exclusively for female lives and the Aadhaar Stambh policy is for male lives. 

    • The auto cover benefit and the loan feature under these plans help take care of your liquidity needs. 

    • Sum assured on the death of the life assured is payable along with loyalty additions. 

    • The policy term can range from 10 to 20 years. The premium paying term shall be the same as the policy term. 

13. LIC's Jeevan Umang 

    • It offers a combination of income and life protection to the policyholder and their family. 

    • On the completion of the premium paying term, 8% of the BSA will be paid each year as a survival benefit. 

    • The death benefit can be taken in installments. 

    • Premium rebates are applicable on assuring a sum above Rs. 5 lakhs. 

14. LIC's Jeevan Tarun

    • There are 4 choices in survival benefits, based on which the maturity value changes. 

    • Survival benefits can be claimed for a period of 5 years from the age of 20 to 24 years. 

    • Premium waiver rider ensures that the death of the parent does not affect the insurance cover and the benefits for the surviving child. 

    • Maturity beenfit can be claimed in installments. 

15. LIC's Jeevan Shiromani

    • Policy term can be chosen among 14, 16, 18, or 20 years. 

    • The premium paying term will be equal to the policy term minus 4 years. 

    • Survival benefits on surviving certain policy years are payable as a percent of the basic sum assured. 

    • Rider benefits can be availed against 15 critical illnesses, with an option to defer premium payments.