Quick Answer: Which LIC Plan Is Best?

Is there any LIC policy for 5 years?

LIC’s Jeevan Aastha is a single premium assurance plan which offers guaranteed benefits on death and maturity.

The Plan is close ended and would be available for a maximum period of 45 days from the date of its launch i.e.

08.12….2.Premium rates.Age at entryPolicy Term 5 yearsPolicy Term 10 years50180.85175.903 more rows.

Is LIC Jeevan Anand a good policy?

Maturity amount is exempt from tax if the annual premium is less than 10% of basic Sum Assured. With LIC New Jeevan Anand, this won’t be a problem. There is a rider for Accidental Death and Permanent Disability that you can purchase for payment of additional premium.

Which is best LIC pension plan?

LIC Pension Plans are specifically designed to secure the financial future of the individual after retirement….Further here we will give some insights on these plans in detail.LIC Jeevan Shanti. … Pradhan Mantri Vaya Vandana Yojana. … LIC Jeevan Akshay-VII. … LIC Pension Plan – Jeevan Akshay VII: Sample Annuity Payout Rates.

Which is better LIC or Max Life Insurance?

Private life insurer Max Life Insurance has overtaken Life Insurance Corporation of India (LIC) to the best track record in terms of claims settlement for individual deaths in FY18. According to IRDAI’s Annual Report 2017-18, Max Life settled 98.26 percent of individual death claims while LIC settled 98.04 percent.

Is LIC better than FD?

Fixed deposits are best for both short and medium term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years. You can invest a minimum amount of Rs.

Will LIC become private?

Finance Minister Nirmala Sitharaman on Saturday said insurance major Life Insurance Corporation (LIC) of India will be listed on the bourses as part of the government disinvestment initiative. … In April last year, LIC acquired controlling stake in state-run lender IDBI Bank, thereby making it a private sector bank.

Which is the best LIC Policy 2020?

Top 6 LIC Plans In India 2020LIC PlansType of PlanPolicy Term (in years)LIC New Children’s money-back PlanTraditional money-back Child Plan25 years – Age at EntryLIC New Jeevan AnandEndowment Plan15 – 35LIC Jeevan UmangWhole Life + Endowment Plan100 – Age at EntrLIC Jeevan LabhEndowment Plan16/21/252 more rows

Is LIC policy a good investment?

Insurance policies are best investment option for protection and investment. … Yes, LIC offers best life insurance plans. If you are looking for investment and protection option under one product, you can consider Endowment or Unit Linked Investment Plan (ULIP) as per your risk appetite and financial objectives.

Why LIC term plan is so costly?

Claim settlement ratio is definitely helping LIC price its premiums much higher than private sector insurers. However the difference in premium is too large to be ignored and its not as if private insurers do not settle claims at all.