Best Life Insurance Plans to Invest In India

Given the increasing degree of uncertainty in today's life, having a life insurance plan is crucial for effectively handling an unexpected incident. However, as a general rule, it is essential that everyone comprehend the plan. By doing this, you can make a risk-free purchase and maintain your peace of mind by knowing that a life insurance plan will provide you with the necessary coverage.

New Jeevan Anand

LIC provides an endowment plan called New Jeevan Anand. It is a participating non-linked plan that provides both savings and protection. When the insured survives to the end of the policy's term, a lump sum payment is given, and the policyholder receives ongoing financial protection against death. Through the use of loans, this method addresses liquidity concerns. The New Jeevan Anand Plan's features include:

1. Simple reversionary bonuses that have already been vested are provided as part of the death benefit in the form of a sum promised.

2. It offers to receive a bonus announced by the business and a share of LIC's profits.

3. In addition to the vested bonuses and the fundamental benefits against the sum assured, the policy also offers a further bonus at maturity.

4. You even have the choice of making ongoing payments to the insured with this plan.

Jeevan Umang

The Jeevan Umang is a whole-life assurance plan that is non-linked and for-profit. It offers annual survival benefits from the end of the premium-paying period until maturity as well as a lump sum payment at maturity or upon the policyholder's passing during the policy's term. It is one of the select few policies in the market that provides 100 years of life insurance. At the end of the policy term, the plan provides money back on survival equal to 8% of the amount assured annually. Subject to restrictions, a simple reversionary bonus and final addition bonus are paid. It's the ideal choice for someone looking for a pension facility after retirement.

 


Jeevan Shanti

The policyholders can choose between an immediate or deferred annuity under this single premium plan. The key traits and advantages of it are:

For both types of annuity plans that are due for the entirety of the annuitant's life, the annuity rates are guaranteed at the time the policy is first issued (s).

Based on your financial goals, you can choose from nine various annuity choices offered by the plan.

At the start of the policy term, annuity rates are set.

After the first policy year is through, a lending facility becomes available, ensuring liquidity.

The policy may be surrendered after three months if the policyholder chooses the annuity option and receives their purchase price back.

Particularly appropriate for policyholders with disabled dependent life.

Both online and offline accessibility.

Jeevan Labh

A non-linked, for-profit endowment plan with a cap on premium payments is called LIC Jeevan Labh. Some of the key characteristics of the LIC Jeevan Labh Plan are listed below:

The plans offer dual benefits of protection and savings.

Provides a death benefit, or the amount assured that will be paid to the beneficiary in the event that the policyholder passes away suddenly.

Consists of the Maturity Benefit, which is a lump sum payment made to the policyholder at the end of the plan.

By way of its borrowing facility, it guarantees liquidity.

Simple Reversionary Bonuses are furthermore available as long as the policy is in effect.

When a claim is settled in the event of the policyholder's death or policy maturity, a Final (Additional) Bonus is also paid.

To further enhance the benefits, the plan also offers the option to add riders and customize the plan.


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