LIC Best Policy with Best Return

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LIC runs the largest life insurance plan in the country, but some of its plans are such that there is return benefit. The Life Insurance Corporation (LIC) is considering being the largest life insurance company in this world for its claim settlement ratio. Not just it, this insurance company also offers some LIC best policy with best return.

Some of these LIC best policy with best returns are LIC Jeevan Akshay VI, LIC e-Term Plan, LIC’s New Money Back Plan- 20 years, LIC New Children’s Money Back Plan, LIC’s New Endowment Plan. Today, in this article below we are going to discuss about these LIC best policy with best returns. Let’s check out below:

LIC Best Policy with Best Return

Today I am going to list down some LIC best policy with best returns in this article below. Check out the LIC best policy with best returns before you headed for buying your best return LIC policy:

LIC e-Term Plan

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LIC e-Term Plan

Life Insurance Corporation’s (LIC’s) e-Term Plan is among the LIC Best Policy with Best Return as well as it provides monetary security to the policyholder’s family in the case of any disastrous event. Under this plan, the company pays a contracted sum assured in case of his or her premature demise at the time of the policy tenure.

However, if the policyholder survives until the completion of the policy tenure then nothing will be paid by the insurance company. You can avail this LIC e-Term Plan through the online application procedure; so you do not have to deal with any agents.

A quick glance at the LIC’s e-term Plan in the table below

Entry Age

Minimum of 18 yearsMaximum 60 years

Maturity Age

Minimum Age Not Applicable (NA)Maximum 75 years

Sum Assured

Minimum INR 25,00,000Maximum Unlimited

Policy Term

Minimum of 10 yearsMaximum 35 years

Modes of The Premium Payment

Yearly

Grace Period

30 Days (from the premium’s due date)

Tax Benefit

Premium payable tax is exempted up to INR 1,00,000 under the Sec 80C

Policy Revival

Revival is allowed within two years from the premium’s due date

LIC Jeevan Akshay VI

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LIC Jeevan Akshay VI

When we talk about the LIC best policy with best returns then we can’t skip talking about the Life Insurance Corporation’s (LIC’s) Jeevan Akshay VI plan. This policy is basically a Single Premium Immediate Annuity Policy, which you can purchase by giving a lump sum.

This one is a non-unit-linked annuity policy, which offers for the pension payment for a lifetime. You can also select from the various mode of payments given in this plan at the time of applying for this plan. Depending on the selected mode, the pension will be payable on the yearly, half-yearly, quarterly, or on the monthly basis. However, for the purchase of more than INR 2.5 lakhs, the life insured will receive a higher incentive, which will reflect in your annuity.

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A quick glance at the LIC Jeevan Akshay VI in the table below

Entry Age

Minimum of 30 yearsMaximum 85 years

Maturity Age

No limitNo limit

Minimum Purchase Price

Minimum INR 1-1.5 lakhsNo limit

Modes of The Premium Payment

Payable as the lump sum

Modes of the Annuity Payment

Yearly, Half-Yearly, Quarterly, Monthly

Type of LIC Policy

Single Premium Immediate Annuity Policy

Tax Benefit

  • Premium payable tax is exempted under the Sec 80C
  • However, the received pension will be taxable

Surrender value

Available only after the completion of 1 year & applicable for the pension option given by the policy

LIC New Money Back Plan 20 years

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LIC New Money Back Plan 20 years

Another LIC best policy with best return is the LIC New Money Back Plan 20 years. This plan is basically a non-linked policy, which has a lot of unique features. The policy offers returns at indicated periods throughout the policy tenure. This plan protects the policyholder’s family on his or her demise as well as offers a lump sum amount on the survival of the insured.

A quick glance at the LIC New Money Back Plan 20 years plan in the table below

Entry Age

Minimum of 13 yearsMaximum 50 years

Maturity Age

No limit70 years

Sum Assured

Minimum INR 1 lakhNo limit

Modes of The Premium Payment

Yearly, Half-Yearly, Quarterly, Monthly

Term Of Premium Payment

15 years

Policy Tenure

20 years

Type of LIC Policy

Money back plan

Grace Period

1 month for quarterly, half-yearly, & yearly modes of payment

15 days for the monthly mode of payment

LIC’s New Children’s Money Back Policy

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LIC’s New Children’s Money Back Policy

This LIC best policy with best return is basically a participating non-linked money back policy, which is specially planned to meet the marriage, educational, and other requirements of the policyholder’s growing kids through its Survival Benefits.

The policyholder can pay the premium on a regular basis at monthly, quarterly, yearly, or half-yearly mode. If the policyholder pays the premium sum for the initial 3 years then the policyholder can surrender any time at the time of the policy tenure.

A quick glance at the LIC’s New Children’s Money Back Policy in the table below

Entry Age

Minimum of 8 yearsMaximum 12 years

Maturity Age

No limit25 years

Sum Assured

Minimum INR 1 lakhNo limit

Modes of The Premium Payment

Yearly, Half-Yearly, Quarterly, Monthly

Term Of Premium Payment

15 years

Policy Tenure

25 years

Type of LIC Policy

Participating Non-linked Money Back Policy

Grace Period

1 month for quarterly, half-yearly, & yearly modes of payment

15 days for the monthly mode of payment

Tax Benefit

  • The maturity Tax benefit is available under Section 10(10D)
  • Death Benefit is available under Section 10(10D)
  • Others tax benefit is available under section 80C

LIC New Endowment Policy

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LIC New Endowment Policy

This is another LIC best policy with best returns. This plan is basically a participating endowment plan, which offers an alternative to its policyholders to pick the suitable sum assured as well as the mode of premium payment.

The LIC New Endowment Policy offers monetary security throughout its policy tenure as well as this plan comes with the loyalty add-ons. The total sum assured on the death is dependent on its premiums paid & its maturity benefits too.

A quick glance at the LIC New Endowment Policy in the table below

Entry Age

Minimum 8 yearsMaximum 55 years

Maturity Age

No limit75 years

Policy Term

Minimum 12 yearsMaximum 35 years

Sum Assured

Minimum INR 1 lakhNo limit

Modes of The Premium Payment

Yearly, Half-Yearly, Quarterly, Monthly

Type of LIC Policy

Endowment Plan

Sum Assured For Accident Benefit

Minimum INR 1 lakh

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