LIC is India’s leading life insurance company. This company offers various life insurance policies as per your requirement , which you can rely on. This company has more than 250 million strong customer base.
If you are looking for a good endowment plan, then you can go for LIC’s endowment plan. Let us understand what the endowment plans are offered by LIC.
LIC Endowment Plans List
LIC has many types of endowment plans which are mentioned below:-
LIC Bima Jyoti Plan
LIC Bima Jyoti Plan is a non-participating and non-linked savings plan that offers a combination of savings and protection. This plan provides financial protection to the loved ones of the policyholder in case of their unfortunate death during the policy term. Guaranteed payouts are offered if the policyholder survives to maturity.
Eligibility of LIC Bima Jyoti
| Table Number: | 860 |
| Entry Age: | Minimum:- 90 days Maximum:- 60 years |
| Maturity Age: | Minimum: 18 Years Maximum: 75 Years |
| Coverage (Basic Sum Assured): | Minimum:- Rs.1,00,000 Maximum:- No limit (Subject to Board approval) |
| Policy Term: | 15 to 20 years |
| Premium Paying Term: | at least 5 years |
LIC Bima Ratna Plan
LIC Bima Ratna is a non-linked, non-participating, individual, savings life insurance. This plan offers a combination of protection and savings. This insurance provides financial support to the family in case of unfortunate death of the policyholder during the policy term. This insurance also provides for periodic payouts on the survival of the policyholder.
LIC Bima Ratna Plan Eligibility
| Table Number: | 864 |
| Minimum Entry Age: | 5 years 20 for a term of 15 years and 90 days for a term of 25 years |
| Maximum Entry Age: | 55 years for a policy term of 15 years 50 years for a policy term of 20 years 45 years for a policy term of 25 years |
| Coverage (Basic Sum Assured): | Minimum:- Rs.5,00,000 Maximum:- No limit (Subject to Board approval) |
| Minimum Maturity Age: | 20 years for 15 and 20 year term 25 year for 25 year term |
| Maximum Maturity Age: | 70 years |
| Policy Term: | 15, 20 and 25 years |
| Premium Paying Term: | 11 years for a term of 15 years 16 years for a term of 20 years 21 years for a term of 25 years |
LIC Dhan Sanchay Plan
LIC Dhan Sanchay Plan is a non-linked, non-participating, individual, savings life insurance. This plan offers a combination of protection and savings. This plan provides financial support to the family in case of untimely death of the life assured during the term of the policy. It also provides a guaranteed income stream from the maturity date till the end of the payout period, according to LIC.
LIC Dhan Sanchay Benefits Options
The following benefit options are available at the time of installation:
In case of regular/limited premium payment:
- Option A: Level Income Benefit
- Option B: Increasing Income Benefit
In case of single premium payment:
- Option C: Single premium level income benefit
- Option D: Level Income Benefit
The benefit option chosen cannot be changed once the premium enhanced cover starts.
LIC Dhan Sanchay plan Eligibility Criteria
| Table Number: | 865 |
| Minimum Entry Age: | 3 year |
| Maximum Entry Age: | Option A & B: 50 years Option C: 65 years Option D: 40 years |
| Coverage (Basic Sum Assured on Death) (Minimum): | Option A & B: Rs.3,30,000 Option C: Rs.2,50,000 Option D: Rs.22,00,000 |
| Minimum Maturity Age: | 18 years |
| Maximum Maturity Age: | Option A & B: 65 years Option C: 80 years Option D: 55 years |
| Policy Term: | Option A & B: 10 and 15 years Option C & D: 5, 10 and 15 years |
LIC New Endowment Plan
LIC New Endowment Plan is offered as a participating plan which earns bonus. Death benefit is paid in case of death during the policy term and maturity benefit is paid if the life assured survives the policy term. This plan helps in creating a great savings along with protection.
LIC New Endowment Plan Eligibility
| Table Number: | 914 |
| Entry Age: | Minimum:- 8 Years Maximum:- 55 Years |
| Maturity Age: | 75 years |
| Coverage (Basic Sum Assured): | Minimum:- Rs.1,00,000 Maximum:- No limit (Subject to Board approval) |
| Policy Term: | Minimum:- 12 Years Maximum:- 35 Years |
| Premium Paying Term: | equal to the policy term |
LIC’s New Jeevan Anand Plan
There is a popular endowment plan. LIC New Jeevan Anand is a participating, individual and non-linked life insurance plan. It offers a combination of savings and security. This is one of the best selling endowment plan by LIC. The policy also takes care of your needs through its loan facility.
LIC New Jeevan Anand Plan Eligibility Criteria
| Table Number: | 915 |
| Entry Age: | Minimum:- 18 days Maximum:- 50 years |
| Maturity Age: | Maximum: 75 Years |
| Coverage (Basic Sum Assured): | Minimum:- Rs.1,00,000 Maximum:- No limit (Subject to Board approval) |
| Policy Term: | Minimum: 15 Years Maximum: 35 Years |
| Premium Payment Mode: | Monthly, Quarterly, Half Yearly, Yearly |
LIC’s Single Premium Endowment Plan
LIC’s Single Premium Endowment Plan is a non linked, participating, individual, life assurance, savings plan. This plan offers an attractive combination of savings and protection. This policy provides financial protection in case of death of the insured during the term. Apart from this, it is a participating policy. And it participates in the profits of the corporation, so the bonus is earned during the policy term. The bonus which is paid to the insured at the end of maturity along with the Sum Assured on Maturity.
LIC Single Premium Endowment Plan Eligibility Criteria
| Table Number: | 917 |
| Entry Age: | Minimum:- 90 days Maximum:- 65 years |
| Maturity Age: | Minimum: 18 Years Maximum: 75 Years |
| Coverage (Basic Sum Assured): | Minimum:- Rs.50,000 Maximum:- No limit (Subject to Board approval) |
| Policy Term: | Minimum:- 10 Years Maximum:- 25 Years |
| Premium Paying Term: | single premium payment |
LIC Jeevan Lakshya Plan
LIC Jeevan Lakshya Policy is a participating endowment policy that offers both investment and insurance benefits. Since this is a participating plan, the benefits of bonus will be available. Is a limited premium paying traditional policy classified as With-Profit Endowment Assurance Plan. In case of unfortunate death of the insured during the term of this plan, the Sum Assured is paid to the children.
LIC Jeevan Lakshya Plan Eligibility
| Table Number: | 933 |
| Entry Age: | Minimum:- 18 Years Maximum:- 50 Years |
| Maturity Age: | Maximum: 65 Years |
| Coverage (Basic Sum Assured): | Minimum:- Rs.1,00,000 Maximum:- No limit (Subject to Board approval) |
| Policy Term: | 13 to 25 years |
LIC Jeevan Labh Plan
It is a non-linked plan that pays limited premiums. It is an endowment plan that provides benefits to the policyholder based on the performance of the company. It also provides loan facility during the policy term. Simple Reversionary Bonuses are payable throughout the term of the plan. Apart from this, final bonus can also be given along with maturity or death benefit.
LIC Jeevan Labh plan Eligibility Criteria
| Table Number: | 936 |
| Entry Age (Minimum): | 8 years |
| Entry Age (Maximum): | 59 years for a policy term of 16 years 54 years for a policy term of 21 years 50 years for a policy term of 25 years |
| Maturity Age: | Maximum:- 75 Years |
| Coverage (Basic Sum Assured): | Minimum:- Rs.2,00,000 Maximum:- No limit (Subject to Board approval) |
| Policy Term: | 16, 21 and 25 years |
LIC Aadhaar Stambh Plan
This insurance plan offered by LIC is specially designed for men who hold an Aadhaar card issued by the Unique Identification Authority of India (UIDAI). It provides good financial support to the dependents of the insured. Loyalty Addition is paid if the policy was in force for the first five years.
LIC Aadhaar Stambh Plan Eligibility Criteria
| Table Number: | 943 |
| Entry Age: | Minimum: 8 Years Maximum:- 55 Years |
| Maturity Age: | Maximum: 70 Years |
| Coverage (Basic Sum Assured per life): | Minimum:- Rs.75,000 Maximum:- Rs.3,00,000 |
| Policy Term: | 10 to 20 years |
LIC Aadhaar Shila Plan
This endowment policy offered by LIC is only for those women who have a valid Aadhaar card. In this policy, if premiums for the first five years have been paid, loyalty additions are paid on death or maturity. The maximum sum assured that can be opted for under this plan is limited to Rs.3 lakh.
LIC Aadhaar Shila Plan Eligibility
| Table Number: | 944 |
| Entry Age: | Minimum: 8 Years Maximum:- 55 Years |
| Maturity Age: | Maximum: 70 Years |
| Coverage (Basic Sum Assured per life): | Minimum:- Rs.75,000 Maximum:- Rs.3,00,000 |
| Policy Term: | 10 to 20 years |