Which Is The Best Endowment Plan In LIC?

LIC plans provide buyers with a one-stop shop for all of their insurance needs. The Life Insurance Corporation of India (LIC) offers a diverse range of financial products to cater to the demands of a variety of insurance buyers. Customers can choose from a variety of LIC policies, ranging from pure protection to whole life, endowment, and money-back plans, depending on their needs and preferences. There are some of the greatest plans among the various LIC policies issued by the organization, which provide comprehensive coverage.

Which Is The Best Endowment Plan In LIC?

To choose the best LIC insurance, the buyer must compare plans and read the policies thoroughly. We've gone over the top LIC plans in great depth here.

• LIC Tech Term Plan 

This LIC plan is a profit-generating, non-linked pure protection plan that provides financial security to the ensured's family in the event of his or her untimely death. There are no intermediaries involved in the Tech Term LIC plan, which is only offered through an online application process. The benefits and features of the LIC policy are listed below.

The Benefits of the LIC Tech Term Policy

Let's look at some of the most important aspects of the LIC Tech Term Plan.

• The Tech Term LIC Plan allows you to choose between two types of death benefits: level sum assured and growing sum assured.

• The policyholder has a variety of premium payment alternatives to select from.

• LIC Jeevan Umang

LIC Jeeva Umang is a participating, non-linked, individual whole-life insurance plan that provides income and protection to the family. It is one of LIC's top plans. From the conclusion of the premium-paying period until the policy's maturity, the plan provides annual survival benefits to the life assured. Furthermore, a lump-sum payment as a maturity benefit is provided to the life assured at the policy's maturity, or a death benefit is paid to the policy's nominee if the life assured dies during the policy period. Let's take a closer look at the policy's features and benefits.

Characteristics of LIC Jeevan Umang:

• The plan allows for the payment of a death benefit in instalments.

• Various rider options are available to increase the policy's coverage.

• LIC Jeevan Amar

LIC Jeevan Amar is a non-linked pure protection plan that allows policyholders to choose between two alternative death benefit options, making it one of the top LIC plans. In the event of a disaster, the plan provides comprehensive coverage to the life assured's family. Even if the policyholder is not present, the plan protects the family's financial future and takes care of the family's future liabilities. The following are the policy's features and advantages.

Characteristics of LIC Jeevan Amar

The following are some of the policy's most important characteristics:

• The Jeevan Amar LIC plan gives you the choice of choosing between two different death benefit options: level amount assured and growing sum assured.

• The plan gives you the option of paying your premiums in one of three ways: single, regular, or limited (premium payment term).

• The death benefits might be paid out in installments to the life ensured.

• Female policyholders receive a special discount on premium amounts.

• The plan benefits from substantial rebates on the greater total assured amount.

Conclusion

These are some of the most lucrative LIC plans that insurance customers can choose from depending on their budget and financial requirements. However, before making a decision, make sure you read all of the plan's details. Don't forget to invest in life insurance coverage to protect your family's financial future.

Also Read:

Understanding Endowment Policy With An Example

How To Perform The Best Comparison Of Endowment Plans?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.