Let’s look at 5 LIC policies that come with opportunities to save and grow your wealth while providing insurance coverage.
The LIC SIIP plan is a unit-linked, non-participating, regular premium individual life insurance plan that offers an insurance cum investment cover throughout the policy tenure. With the SIIP plan, you can grow your invested corpus through market-linked returns while enjoying insurance protection.
The LIC Bima Jyoti plan is a non-linked, non-participating, individual life assurance savings plan that offers a combination of protection and savings. With the Bima Jyoti plan, you are offered the opportunity of systematic savings while also protecting yourself under a life insurance policy. The policy will provide you with a lump sum payment if you survive the policy term, and if not, it will provide financial support for your family.
The LIC Jeevan Labh plan is a non-linked, participating, individual life assurance savings plan. This is another plan by LIC that offers an attractive combination of protection and savings features. The Jeevan Labh plan provides financial security to your family in the event of your unfortunate demise. At the end of the tenure, you get the maturity benefit along with a simple reversionary bonus and a final additional bonus in case of survival.
The LIC New Money Back Plan- 25 Years is a non-linked, participating, limited premium, individual life assurance plan that comes with the combination of protection against death throughout the policy tenure along with periodic payments on survival at specified durations. This combined benefit offers financial back-up to your family in the event of your unfortunate death and also provides a lump sum amount on maturity in case of survival.
The LIC Bima Ratna plan is a non-linked, non-participating, individual, savings life insurance plan that offers a combination of savings and protection. This plan offers pay-outs at regular intervals to help you meet your key life goals while protecting you with an insurance cover. If you survive the policy tenure, you will be given a maturity benefit amount along with multiple survival benefits at different policy years. And in case of any untoward event, your family will be compensated with the death benefit amount.