Life Insurance Corporation (LIC) is one of the most trusted brands in India when it comes to purchasing any life insurance policy. Since Life Insurance Corporation (LIC) has a vast range of products to deal with, it sometimes becomes difficult for an individual to pick the right one. So, today we have come with some of the best LIC plans for 5 years for you. Check out some of the best LIC plans for 5 years
Table of Contents
A Quick View Of The Best LIC Plans For 5 Years
|Policy Name||Policy Type||Entry Age||Maturity Age|
|New Jeevan Mangal Plan||LIC Micro-insurance plans||18 years to 60 years||70 years|
|Jeevan Akshaya VI||Retirement Plans||30 years to 85 years|
|LIC’s New Jeevan Nidhi||Retirement Plans||20 years to 58 years( Regular Pay) & 60 years (single Pay)||55-65 years|
|LIC’s Single Premium Group Insurance||Group Insurance Plans||90 days to 65 years||18 years to 75 years|
|LIC’s Group Credit Life Insurance||Group Insurance Plans||18 years to 60 years||65 years|
|LIC Anmol Jeevan II||LIC Term Assurance Plans||18 years to 55 years||65 years|
|LIC Amulya Jeevan II||LIC Term Assurance Plans||18 years to 60 years||70 years|
New Jeevan Mangal Plan
LIC’s New Jeevan Mangal Plan is basically a term assurance policy with the return of payments on the maturity of the plan, where the policyholder can either pay the payments in the lump sum or on a regular basis at Weekly, fortnightly, Monthly, Half Yearly, Quarterly, or Yearly intervals over the policy term. This one is one of the most famous LIC policies for 5 years.
Jeevan Akshaya VI
LIC’s Jeevan Akshay VI Plan is basically an Immediate Pension Policy introduced by the Life Insurance Corporation (LIC) of India. One can buy the Jeevan Akshay VI plan by paying the lump-sum amount of the policy. This is among the LIC best plan for 5 years.
It offers allowance payouts directly after the reimbursement of the premium for a monetarily secured life afterward the policyholder’s retirement. The Jeevan Akshay VI policy also deals with a specified amount at the time of the lifespan of the pensioner. There are numerous options available for the policy type and mode of payment of the pensions.
LIC’s Single Premium Group Insurance
Just as the name LIC’s Single Premium Group Insurance suggests, it is basically a Single Premium Contributing Endowment Plan. Therefore, it is a customary endowment with maturity and death benefits along with some other bonus facility.
LIC’s New Jeevan Nidhi
The LIC New Jeevan Nidhi plan among the best LIC plan for 5 years at the same time it is a traditional contributing deferred pension plan which enables savings for steady income even after the policyholder’s retirement. In addition to this, it covers the policyholder life too. This is another best LIC policy for 5 years.
Such best LIC plans for 5 years come with both Regular & Single premium mode. There are Assured Additions accumulating in every single policy year for the first 5 years.
LIC’s Group Credit Life Insurance
The LIC Group Credit Life Insurance is basically a term insurance policy that offers the advantage of insurance protection in the disastrous event of the death of anyone member of the group during the policy term. It is actually a plan grounded on the reimbursement of a single payable amount as well as it is a non-linked participating insurance policy.
LIC Anmol Jeevan II
The LIC Anmol Jeevan II Policy is actually a pure term insurance policy without any bonus facility with it. Thus, in the case, the policyholder dies within the policy term then the death benefit will be paid to its nominee; nothing else will be paid on the policy’s maturity.
This LIC Anmol Jeevan II plan has an upper limit of the total sum assured maximum INR 24 Lakhs.
LIC Amulya Jeevan II
The LIC Amulya Jeevan II Policy is basically a well-known term insurance plan. This plan does not offer any additional bonus services to the life insured. Moreover, in case the policyholder dies within the policy term then its nominee will get the death benefits. On the other hand, nothing else will be payable to its policyholder after the plan reaches its maturity age.
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