Top 5 Best LIC Plans India in 2020 – Reviews

Nowadays, life is becoming very short. People even don’t know how much they are going to live. Therefore, this question may confuse many of the common people who want to secure the future of their families. Hence, we generally listen that which type of LIC plan one may choose to get the best benefits for their families or how to choose the best LIC plan. For answering these entire questions we are here going to provide different LIC plans along with the best way to select one of them. We will also be discussing the pros and cons of the same and how we can apply for them.

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Top 5 Best LIC Plans

To select the best LIC plan one may go through these top 5 LIC plans which are best for the customer to opt. These plans are providing best services to avail the benefits.

Policy NameType of planAge to applyMaturity Age of the PlanPremium amount of planSum Assured which could be availedMedical Examination before giving applyingPlan status right now
LIC Jeevan Akshay PlanAnnuity retirement  plan30-85 YearsNot knownRs.100000 to Rs150000
Rs.7190Not neededStill Active to be applied
LIC New Children’s Money Back PlanTraditional money-back child plan0-12 Years25 YearsRs.24000 (Yearly, monthly, quarterly, etc.)100000Not neededStill Active to be applied
LIC E-term Insurance planPure term Plan18-60 Years75 YearsRs.4600 (Yearly)Rs.2500000Not neededStill Active to be applied
LIC Jeevan Shanti PlanReturn Annuity Plan30-85 Years70 Years25709 – Monthly. One can also choose quarterly or Yearly mode.)

quarterly, etc.)



Not neededStill Active to be applied
LIC Jeevan Anand  PlanParticipating in a traditional Endowment plan18-50 Years75 YearsNot known.
(Yearly, monthly, quarterly, etc.)
Rs.100000Not neededNon-Active plans now

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Details Related To All Above Mentioned Plans

LIC Jeevan Akshay Plan

  • UnderLIC Jeevan Akshay Plan, the annuity starts from next month when one applies for the insurance plan.
  • The best thing about this plan as that one has to pay a one-time premium and after that, there is no need to pay it. But eventually, on the other side, the premium amount is a little more.
  • One can choose more options for an annuity from the 71 which are available under the plan.
  • Jeevan Akshay Plan covers a large group as it is available for the person in the age of between 30 years to 85 years.
  • There is no medical examination needed before applying for the insurance plan.
  • The modes of payments of annuity are monthly quarterly half yearly or nearly as suitable to the plan holder.
  • The loan facility under LIC Jeevan Akshay Plan is not available till now for the customers.
  • The minimum price for the purchase of plant is rupees 100000 or rupees 1.5 Lakh through online mode and there is no maximum limit for the purchase price.

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LIC New Children’s Money Back Plan

  • In LIC New Children’s Money Back Plan, a minimum account of 1 lakh of the sum insured will be given to the policyholder but there is no maximum limit for the sum insured.
  • After this, the premiums can be paid on a monthly, yearly, half-yearly or yearly basis as suitable to the policyholder.
  • The loan facility and this plan is available but after the payment of three consecutive years premiums.
  • The entry age and this plan are 0 to 12 years and the life assured will be given after the age of 25 years.
  • Under LIC New Children’s Money Back Plan, if the person who is holding the policy dies before the commencement of risk then the amount which is equal to the premiums paid by the policyholder will be given back.
  • And in the vice versa situation, the sum insured + the final additional bonus along with the accrued bonuses will be given.
  • The premium waiver benefit rider is being available for the policyholder.

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LIC e-Term Plan

  • UnderLIC E-term plan, the premium is different for the smokers and the-smoker alive policyholder.
  • The minimum basic sum insured for the policyholder is 2500000 and there is no maximum limit for the same.
  • It covers the age group of 18 years to 60 years under its plan very smoothly.
  • There are no facilities of any loan talking under LIC E-term.
  • The grace period for the payments 30 days from the Premium due date which is quite feasible for the policyholders.
  • Hence this plan is quite simple and sober with the maximum advantages providing to the policyholder.

LIC Jeevan Shanti Plan

  • LIC Jeevan Shanti Plan helps a person to get a lifetime income after investing in the policy.
  • There are 9 different options in which the annuity can be availed by any individual who wants to buy it.
  • The annuity returns are guaranteed under Jeevan Shanti Plan plan by the policy provider.
  • Even one will be able to get a free look period of 15 days under which if the policyholder is not satisfied by the advantages being provided by the plan, so they can return the policy.
  • Once your policy is completed then after 3 months you will be able to surrender your plan anytime.
  • Also after the completion of the plan one will be able to get the facilities of loan.
  • One can take this plan for themselves or their family too.

LIC Jeevan Anand Plan

  • The entry age and LIC Jeevan Anand  Plan are 18 years to 50 years which is quite feasible.
  • The maximum maturity age of Jeevan Anand  Plan 75 years of the policyholder.
  • It is a whole life insurance plan which is quite beneficial
  • A minimum sum assured will be offered as 100000 rupees and there is no maximum limit for the same.
  • In case of death of the policyholder, the amount given to the nominee will be one 25% of the basic sum insured along with 10 times the premium paid plus 105 percent of the total premium pay still that date.
  • Hence, a very good plan with providing all the bonuses and other things whenever the nominee applies for it and means when should go for it.

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Reviews of Best LIC Plans

Above at the top 5 LIC plans available for the customers to opt for. Before choosing any one of the above plans to go through all the terms and condition and the policy benefits and charges. One has to ensure that the premium which is needed to be paid is feasible for the policyholder to pay on time. As because of not paying the premiums on time one has to face many difficulties and hence to eliminate that path before opting policy just in short that the amount could be paid by you easily.

There are many advantages of going for a LIC plan as this will help your money or your loved one to get a fixed amount after your death so that they can easily live until they become stable. Even at the time of the death of your loved ones one would not be able to work immediately and hence this amount will help them to survive for that period.

Hence, we suggest and everyone to go for one of the LIC insurance plans must.

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