Millions of people already bought LIC policy, and many still wanted to buy but, they are still figuring which one they should buy. So, in this article, I’m going to tell you the top 5 LIC policy, and after reading this complete article, you will probably know which one you should buy.
Everyone has their own needs and their own thinking so, they should buy their policy according to their need. We have already given you the tips to buy LIC policy. Currently, there are 30 LIC policies available in the market.
Many people ask which one is the best LIC policy, so the one answer we can give is that every policy has made with some specification and need with their customers that what they actually want. So, the one policy which makes fulfill your need is the best policy for you.
Before knowing which is the best LIC policy, you should answer these questions first.
- Purpose of Policy: The purpose of buying a policy should have a legit reason like children’s future planning, Bussiness planning, or for your financial goal.
- Single/Regular Premium policy: Single and Regular premium policy means that how you want to pay a premium for buying a policy like in a single premium policy, you have to pay one time, and in Regular premium policy, you have to pay monthly.
So, let’s get started to Top 5 LIC Policy in 2020
- Jeevan Lakshya Policy: This policy act as his name. Jeevan Lakshya policy says that if you have any goal or responsibilities in your life or after your death, you can take this policy. You can take this policy with Term Rider and Accidental Death and Disability Term Rider. According to this policy, if they LIC ower dies, then premium gets waived and gets the policy maturity at the time, and financial goal gets achieved.
Feature of Jeevan Lakshya Policy
- Age of Entry: 18 to 50 years
- 4 Premium Paying Mode: Yearly, Half Yearly, Quarterly, Monthly (ECS Only)
- Policy Term: 13 to 25 years
- Premium Paying Term: (Policy Term – 3) years
- Sum Assured: 100000 and above (in multiples of 10000)
- Premium Payment Mode rebate: 2% on yearly, 1% on Half Yearly, Nil on Quarterly & Monthly
- High Sum assured Rebate:
- 0% of SA on 0 to 2,00,000
- 2% of SA on 2,00,000 to 4,90,000
- 3% of MI on 5,00,000 and above
- Loan: After 3 Years
- Surrender: Alter 3 Years
- Revival: Within 2 Years of Lapse
Death Benefits: 10% of Basic Sum Assured will be payable yearly either from policy anniversary or date of death up to policy maturity. On the maturity date, the nominee will receive Sum Assured (110% of Premium Paid)+Bonus+FAB once again.
2. Jeevan Labh Policy: If you want high return and wealth, you can take this policy. The return of this policy is too good.
3. Single premium Endowment: If you want to pay the premium once and plan your future, then this policy is for you. This policy starts from only 50,000/- and you can buy as much amount of policy you want. This policy is best for a gift to someone.
4. Jeevan Anand Policy: Jeevan Anand Policy is one of the most selling LIC policies. This policy is a kind of whole life policy in which you have to choose a date, and you can get maturity and whole life coverage. Jeevan Anand Policy is a Regular premium paying policy.
5. Jeevan Shanti policy: If you want a regular income or pension plan, you can take the Jeevan Shanti policy plan. Jeevan Shanti policy is a Single premium policy plan which gives you a fixed amount of pension in your whole life. You can take this policy with Joint Life and Return of Purchase Price.
I hope this article helped you in choosing the best policy according to your need. Also, we have mentioned one by one of the best LIC policies you can buy. I hope this article would be beneficial to you.