With the arrival of their monthly salary, most people are faced with a long list of EMIs, children’s fees, groceries, and other essential expenses. Consequently, planning for savings and future financial security often goes unplanned. If you want your income to be a source of support not only for today but also for the years to come, LIC plans can prove to be a strong option for you. Designed specifically for salaried individuals, these plans offer the assurance of protection, savings, and stable returns.
LIC Jeevan Azad
LIC’s Jeevan Azad plan is a non-participating, non-linked savings plan that offers a solution for both protection and savings. It is a limited premium payment policy, in which coverage continues until the end of the policy term after paying premiums for a certain number of years. In case of death during the policy term, the nominee receives a fixed sum assured, while in case of survival, the full term is guaranteed. This plan offers guaranteed returns, making it suitable for investors seeking safe returns without risk.
Jeevan Azad is available for purchase through LIC agents, corporate agents, and the official website of LIC. This plan offers monthly, quarterly, or annual premium payments. The maturity amount can be paid in installments or in a lump sum, and rider coverage is also available. Loans are also available if needed. The entry age ranges from 30 days to 50 years, and the policy term is between 15 and 20 years. A minimum sum assured of ₹2 lakh is mandatory.
LIC New Jeevan Anand
New Jeevan Anand is a traditional participating plan from LIC, combining both savings and life protection. Its most distinctive feature is that while a lump sum payment is received upon completion of the policy term, the life cover continues for life. This plan can be purchased offline, and premium payments can be made on a monthly, quarterly, half-yearly, or yearly basis.
This plan offers lifetime protection, a loan facility, bonuses, and rider options after maturity. It is available for individuals aged 18 to 50 years, with a maximum maturity age of 75 years. The policy term ranges from 15 to 35 years, and the sum assured starts at ₹2 lakh. This plan is suitable for long-term savers and those seeking permanent protection.
LIC Jeevan Lakshya
Jeevan Lakshya is a participating non-linked plan specifically designed for those who want to ensure the financial security of their family, especially children. In the event of the policyholder’s death, this plan provides a fixed income every year, helping to meet the family’s regular needs. Upon maturity, a lump sum is received, regardless of whether the policyholder is alive or dead.
This plan offers installment claims, rider benefits, and discounts on high sum assured. The entry age is set from 18 to 50 years, and the policy term is from 13 to 25 years. This plan becomes a reliable means of securing children’s education and future needs in the long term.
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LIC Jeevan Umang
Jeevan Umang is a whole life policy from LIC that provides regular income and protection throughout life. This plan pays 8 percent of the basic sum assured as income every year after the completion of the premium payment term, which continues until the policyholder’s death or the policy reaches 100 years of age. This plan is ideal for those who want a stable, lifelong income for retirement.
The death benefit includes the sum assured on death, bonuses, and the final bonus. A large sum assured is also received on maturity, along with the bonus. The entry age for this plan is 90 days to 55 years, and the premium payment terms are 15, 20, 25, and 30 years. Lifelong financial security makes this one of the most sustainable options.