An essential component of your personal finances is insurance plans. Having life insurance reduces your stress because it gives your family financial security in an uncertain world.
By purchasing insurance, you can be ready for unforeseen circumstances like accidents, illness, death, or disability. The Life Insurance Company is the most well-known brand in the insurance sector and holds the largest market share. So, in this article, we’ve discussed the top LIC policies for 2023.
Here are the top 5 LIC policies to Invest in 2023:
LIC Tech-Term Plan
Tech-Term is a Non-Linked, Without Profit, Pure Protection plan. This plan provides financial protection to the insured’s family in case of the demise of the policyholder. This plan can be purchased online mode. If a policyholder wants to double the amount assured under this plan, he can do so by paying a premium that is around 25% to 30% higher.
LIC Jeevan Labh:
Investments in the Life Insurance Corporation of India (LIC) are regarded as a wise choice, The money invested is secure. If you’re interested in making investments in insurance plans as well, know about a LIC scheme that allows you to contribute more than Rs 250 per day and yet reach a maximum investment of Rs 54 lakh.
Jeevan Labh, a non-linked and profit-making plan, is the name of this LIC scheme. In the event that the policyholder passes away, the family will receive financial support. In addition, the policyholder will receive a sizable payout if he lives to see the policy’s maturity. Investors have the option to select the amount they want to invest under this plan along with the duration of the premium.
this scheme, any citizen between the ages of 8 and 59 may invest. In accordance with this policy, insurance holders may deposit funds for terms of 10, 13, and 16 years, with the funds being released at maturity after 16 to 25 years. A 59-year-old can choose a 16-year insurance plan as long as their age does not go over 75.
LIC New Jeevan Anand
LIC offers various term, endowment, pension plans and whole life insurance plans for the people. It is one of the trusted insurance company. Among those insurance products, New Jeevan Anand Plan, which provides the policyholder financial support against death, is quite famous within the LIC’s customer.
LIC New Jeevan Anand is a participating non-linked life insurance policy and an endowment policy that offers the double benefit of protection and savings.
LIC Jeevan Umang Policy
One of the most popular and low-risk investment schemes in the company is the LIC Jeevan Umang Policy.
The LIC Jeevan Umang Policy can offer you a good return with a small amount of investment. Firstly, anyone aged from 90 days to 55 years can opt for this policy. It is a long-term investment opportunity, where after maturity, a lump sum amount is provided with the life insurance.
As per the calculations made for the LIC Jeevan Umang Policy, if you pay a monthly premium of Rs 1302 on this policy, you will pay Rs 15,298 in a year, which means that if you keep this policy for 30 years, the money will be around Rs 4.58 lakh.
LIC New Jeevan Shanti
This scheme requires you to pay a single premium. The policyholder can choose from the options of single life and joint life deferred annuity. The policy guarantees the annuity rates at the inception. A person investing in the scheme will be paid annuities post deferment period for their lifetime.