Life Insurance Corporation of India (LIC) is one of the most respected, reliable, and sophisticated insurance brands in India. LIC offers a range of products and hence, it is natural to be confused while choosing the most appropriate plan.
Risks Covered by Plans Offered by Life Insurance Corporations
Different policies of LIC provide different facilities to its policyholders. Given below is a description of the most popular LIC policies:
LIC Jeevan Akshay VI
It is a very convenient insurance plan offered by the Life Insurance Corporation of India. You can purchase this plan with the investment of a lump sum amount. LIC Jeevan Akshay VI is a single premium non-unit-linked pension policy. The important features of this great plan are as follows:
- After purchasing LIC Jeevan Akshay VI, the annuity will be paid out on a regular basis.
- There is flexibility of choosing the annuity payout from multiple options.
- It provides an incredible retirement solution.
- The benefits of this plan will be extended to the surviving nominee or spouse following the demise of the respective annuitant as per the annuity option chosen.
- No medical examinations are needed prior to purchasing this plan.
- Annuity payouts will occur on a particular frequency scale, as per the selection of the annuitant, such as monthly, quarterly, semi-annually, and annually.
- You will have particular tax benefits, as per the specific sections.
LIC e-Term Plan
The popular e-Term policy of the Life Insurance Corporation of India is a pure life cover plan that provides the facility of financial protection to the family of the policyholder on account of any unexpected event. This plan is available only on the online platform. No agent is required for purchasing this policy.
Within this e-Term policy, the insurer provides consent to pay the specific sum assured on account of his/her premature demise in times of the policy term. However, needless to say, in case the policyholder survives until the termination of the respective policy term, no amount will be paid.
LIC’s New Children’s Money Back Plan
This plan was announced in the year 2015. It is specifically aimed at the fulfilment of educational, marriage as well as other requirements of a growing child. LIC’s New Children’s Money Back Plan provides incredible risk coverage to the respective insured child during the policy term. Hence, this specific plan can be regarded as both a protection and saving plan.
LIC Jeevan Anand Plan
LIC Jeevan Anand is one of the most popular plans offered by the Life Insurance Corporation of India. The striking benefit of this plan is that after the termination of the policy, the life coverage continues until the demise of the respective policyholder. This policy acts as an amalgamation of endowment plan and whole life plan. LIC Jeevan Anand also provides Income tax benefits.
LIC Jeevan Saral
This plan has been categorized within Special Plans. It offers exciting features of the conventional plans as well as the flexibility linked to ULIP plans. This incredible plan provides double death benefit regarding sum assured, accompanied by the return of premium.
E-plans Offered by Life Insurance Corporation
Due to the advancement in technology, most people have become tech-savvy. They find it more convenient to analyse and purchase life insurance policies through the online mode. Nowadays, people hardly get time to visit a brick and mortar office and discuss a policy; so the demand for online insurance policies is increasing day by day.
LIC e-Term Plan is one of the most popular online term plan offered by the Life Insurance Corporation of India. The dedicated website of LIC has all the details of this plan. It is a pure term plan that provides assurance of payment of the Sum Assured on account of the sad demise of the respective policyholder within the time-frame of this particular plan.
You will find this plan is available on the LIC website and as per your convenience; you can purchase it online at lower premium rates. The policyholder needs to pay regular premiums throughout the whole term of this particular plan.
If you are a comfortable internet user and have some experience in online purchases, then purchasing life insurance policies online will be a logical and easy option for you. Online mode is an easy, fast, and secure mode because you just need to provide few details and pay via Internet Banking. Along with convenience, the online policy is more affordable, compared to its counterpart because of online discount.
Choose a proper insurance plan and lead a worry-free life. Visit the LIC website today.