The Life Insurance Corporation of India (LIC) offers many policies to its customers. It is the largest insurance company in India and provides insurance to people from all sections of society. There is no risk in investing in LIC. Investors can earn a good amount by investing in its schemes for a fixed period. Also, there is no market risk involved. Here, we are sharing some LIC schemes that are suitable for salaried people, where life coverage is available for up to 100 years.
1. LIC Jeevan Shiromani Policy
LIC Jeevan Shiromani is a savings and life insurance plan. It is for people who earn well and want safety for their money.
If you take a policy of ₹1 crore, the minimum premium is ₹94,000 every month. You have to pay this for 4 years. You can pay every month, every three months, every six months or once in a year.
There is no limit on the maximum premium. To buy this plan, your age should be at least 18 years. The maximum age depends on the plan time. For 14 years plan, the maximum age is 55 years. For 16 years plan, it is 51 years. For 18 years plan, it is 48 years. For 20 years plan, it is 45 years.
If you take a 14 years plan, you get 30% of the sum assured in the 10th and 12th year. If you take a 16 years plan, you get 35% in the 12th and 14th year. If you take an 18 years plan, you get 40% in the 14th and 16th year. If you take a 20 years plan, you get 45% in the 16th and 18th year. The rest of the amount is given at the end.
2. LIC Jeevan Anand Policy
LIC Jeevan Anand is a term insurance plan. It gives good return with low premium.
You can pay only ₹45 per day and make a fund of ₹25 lakh in the future. You can pay premium monthly, every three months, every six months or yearly. The monthly premium is ₹1,358.
This policy also gives a bonus. For bonus, you need to keep the policy for at least 15 years.
3. LIC Jeevan Azad Policy
LIC Jeevan Azad is a simple insurance plan. It is not linked to the market.
In this plan, you pay for 15 to 20 years. The minimum sum assured is ₹2 lakh. The maximum is ₹5 lakh.
At the end of the policy, LIC pays the full amount that was decided when you bought the policy. The minimum age to buy is 90 days. The maximum age is 50 years. You can also buy this for children.
4. LIC Jeevan Umang Policy
LIC Jeevan Umang is a whole life insurance plan. It gives protection and yearly income.
After you finish paying the premium, you get money every year. A lump sum is given when the policy ends or if the policyholder dies.
You can also take a loan on this policy.
This plan gives cover up to 100 years of age. After you finish paying, you get 8% of the sum assured every year. You also get a bonus.
People from age 3 years to 55 years can take this plan. The minimum insurance amount is ₹2 lakh. The premium can be for 15 years, 20 years, 25 years or 30 years.