Investing in life insurance plans can be a great way to secure the financial future of you and your family. LIC of India, being the largest insurance provider in the country, offers a wide range of plans to cater to the diverse needs of its customers. In this blog post, we will be discussing the top 5 LIC of India plans that can help you create long-term wealth.
1. LIC Jeevan Umang Plan
LIC Jeevan Umang is a non-linked, with-profits, whole life assurance plan that offers a guaranteed survival benefit along with death and maturity benefits. The plan offers a regular income after the premium payment term, making it a popular choice for long-term wealth creation.
2. LIC New Endowment Plan
LIC New Endowment Plan is a traditional participating, non-linked, savings-cum-protection plan that offers a lump sum payment at the end of the policy term along with bonuses. The plan also offers life cover during the policy term, making it a great option for those looking for a combination of savings and protection.
3. LIC Jeevan Labh Plan
LIC Jeevan Labh is a limited premium paying, non-linked, with-profits endowment plan that offers death and maturity benefits. The plan offers a lump sum payment at the end of the policy term along with bonuses, making it a good option for long-term wealth creation.
4. LIC Tech Term Plan
LIC Tech Term Plan is a non-linked, pure protection plan that provides financial protection to the policyholder’s family in case of their untimely demise. The plan offers a high sum assured at an affordable premium and can be customized with various rider options to enhance its coverage.
5. LIC Money Back Plan
LIC Money Back Plan is a non-linked, participating, money-back plan that provides regular payouts during the policy term and a lump sum payment at the end of the policy term. The plan also offers life cover, making it a good option for those looking for a combination of savings and protection.
In conclusion, LIC of India offers a wide range of plans to suit the varying needs of its customers. The above-mentioned plans are the top 5 LIC plans that can help you create long-term wealth. It is always advisable to carefully assess your financial goals and choose a plan that aligns with them.