LIC 5 Special Plans: Life Insurance Corporation of India (LIC) is India’s largest insurance company. LIC offers a variety of life insurance plans and investment options. Last year, LIC further strengthened its portfolio by introducing several new insurance plans. These new plans not only provide security to policyholders but also offer investment and savings benefits. Let’s learn about LIC’s special plans that will provide you with lakhs of rupees in returns if you invest this new year, and will help secure your future.
LIC Protection Plus (Plan 886)
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LIC’s Protection Plus Plan 886 is an individual life savings plan that is non-participating and linked. In this plan, the policyholder gets the benefit of investment and savings along with life insurance coverage. Policyholders can choose investment funds according to their needs and also have the option to increase or decrease the sum assured. In addition, the facility to deposit top-up premiums is also available.
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LIC Bima Kavach (Plan 887)
Bima Kavach Plan 887 is a non-participating and non-linked individual life insurance plan. This plan provides financial security to the family in case of the unfortunate death of the policyholder. The death benefits in this plan are fixed and guaranteed, and the policyholder also has the option to receive the benefit amount in installments.
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LIC Jan Surakshan (Plan 880)
The Jan Surakshan Yojana (Plan 880) is especially designed for low-income individuals. This micro-insurance plan has auto-cover and guaranteed additions features. If the policyholder dies during the policy term, the family receives financial assistance. If the policyholder survives the entire term, a lump sum amount is paid at maturity.
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LIC Bima Lakshmi Plan (Plan 881)
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The Bima Lakshmi Yojana is specially designed for women. It offers life insurance along with a money-back facility. Policyholders can receive a fixed amount every 2 or 4 years, or after the premium payment period ends, as per their preference. It also offers coverage for certain specified illnesses and guaranteed maturity benefits.
LIC Smart Pension (Plan 879)
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The Smart Pension Plan is non-participating and non-linked. It is available for both individuals and groups. Its objective is to provide regular pension payments to policyholders. This is an immediate annuity plan, meaning that pension payments begin immediately after a lump-sum deposit is made.