LIC INSURANCE PLANS

LIC are also Called Life Insurance Corporation

LIC(Life Insurance Corporation) of India is an Indian state-owned insurance group and investment company and its headquartered located in Mumbai. It is the largest insurance company in India with an estimated asset value of 3,111,847 crore.

LIC INSURANCE PLANS
LIC plans 


 
LIC AT A GLANCE

(a) Headquarters: Mumbai
(b)Owner: Government of India
(c)Founder: Government of India
(d)Founded: 1 September 1956
(e)Total assets: 31.12 lakh crores INR (US$450 billion, 2019)


INSURANCE PLANS 
>> LIC offers a basket of schemes to meet the various needs of individual and their family.

1.Endowment Assurance plans:-

a)LIC's New Endowment Plan (Plan no.814)    
LIC's New Endowment Plan (Plan no.814)
New Endowment plan

A regular premium with profits plan which provides for applicabe along with the accrued bonuses on maturity or on earlier death of life assured.

b)LIC's New Jeevan Anand Plan (Plan No. 815)
LIC's New Jeevan Anand Plan (Plan No. 815)
Jeevan anand plan


This is a unique with profits plan which combines the feature of endowment and whole life plan.On death during the policy term or on survival to the end of the policy term,the applicable sum assured is payable along with the accrued bonuses.On death after the expiry of the policy term,sum assured is payable.

c)LIC's Single Premium Endowment plan (Plan No.817) 

LIC's Single Premium Endowment plan (Plan No.817)
Single premium plan

A single premium with profits plan where the sum assured is payable along with the accrued bonuses on maturity or on earlier death of the life assured.

d) LIC's Jeevan Rakshak (Plan No.827)

LIC's Jeevan Rakshak (Plan No.827)
Jeevan Rakshak plan no.827

A regular premium with profits plan which provides for applicable sum assured along with loyalty addition, if any,on maturity or on earlier death of life assured.This plan is availabe only to standard health lives without any medical requirement. The sum assured per life varies from Rs.75,000/- to Rs.2,00,000/-

e) LIC's Limited premium Endowment Plan(Plan No.830)

LIC's Limited premium Endowment Plan(Plan No.830)
Endowment plan No.830

A limited premium with profit plan which provides for applicable sum assured along with accrued bonuses on maturity or on earlier death of the life assured .

f) LIC's Jeevan Lakshya (Plan no.833)

LIC's Jeevan Lakshya (Plan no.833)
Jeevan Lakshya 

A limited premium with-profit plan .On death during the policy term, the future premium will be waived and an Annual Income benefit 10% of sum accrued will be payable till the end of the policy term. On expiry of the policy term,applicable sum assured along with the accrued bonuses for the full term shall be payable irrespective of the survival of the life assured .

g) LIC's Jeevan Labh (Plan No.836)

LIC's Jeevan Labh (Plan No.836)
Jeevan Labh

A limited Premium with-profit planwhich provides for applicable sum assured along with assured  bonuses  on maturity or on earlier death of life assured .

h)LIC's Jeevan Pragati Plan (Plan No.838)

LIC's Jeevan Pragati Plan (Plan No.838)

link add===============================================

This is a with-profits plan where in the risk cover automatically increase after every five years. The plan provides for applicable sum assured along with the accrued bonuses on maturity or on earlier death of the life assured.


Term Assurance Plans  


a) LIC's Anmol Jeevan -II(Plan no.822)
A pure term assurance plan where one can choose sum assured from Rs.6lakhs to Rs. 24 lakhs.

b) LIC's Amulya Jeevan -II(Plan No.823) 
A pure term assurance plan with a minimum sum assured of Rs.25 Lakhs.

c) LIC's e-Term Plan (Plan No.825)
A pure term assurance plan which is available for online sale only.Under this plan,there are two categories of premium rates viz.Aggregate Category and Non-Smoker category.Minimum sum assured for aggregate category is Rs.25 laks and non-smoker Category is Rs.50 Lakhs.


3. Children Plans 

a) LIC's New Children's Money Back Plan( Plan No. 832)

A regular premium with-profits money back plan. Besides providing life cover during the policy term,survival benefits as a percentage of the sum assured shall be payable after every two years starting  from age 18 upto age 22 years.On maturity at the age of 25 years,The balance sum assured along with the accrued bonuses shall be payable.

b) LIC's Jeevan Tarun(Plan No.834)

LIC's Jeevan Tarun(Plan No.834)
Jeevan Tarun


A limited premium with-profits money back plan which provides for life cover during the policy term. Under this plan,the policy holder can choose one of the four available options to decide the proportion of survival benefits (i-e 0% / 5%/10%/15%) to be availed each year from age of 20 to 24 years.On maturity at the age 25 years the balance sum assured along with the accured bonuses shall be payable.
  
 

Comments