Best Lic policy for 5 years, Policy to invest in 2021

Life Insurance Corporation of India (LIC) is a premier insurance company with its head office in Mumbai. LIC was established by the Government of India. And also this LIC offers a wide variety of life insurance policies including ULIP plans, child plans, pension plans, term insurance and others. LIC of India aims to raise the standard of living of people by providing various financial products as well as services that provide competitive returns. Best Lic policy for 5 years.

Best LIC Policy for 5 years

Anmol Jeevan II

Anmol Jeevan II is a reliable insurance scheme by LIC and provides financial protection to the policyholder’s family on his unfortunate death. LIC Anmol Jeevan II policy pays the nominee in the policy as death benefit to the nominee in the policy and enables the policyholder’s family to meet their basic financial need after the death of the insured. Best Lic policy for 5 years.

Salient Features of LIC Anmol Jeevan II

The scheme is a traditional and exhaustive plan, but does not have participating benefits.

The plan offers premium payments on an annual or half-yearly basis.

This plan provides death benefit but no maturity benefit is giv-en on this plan.

Benefits of Anmol Jeevan II

Best Lic policy for 5 years

LIC Anmol Jeevan II offers various benefits. Some of them are giv-en below: Best Lic policy for 5 years.

The scheme provides death benefit in which the insurer provides the predetermined sum assured in the policy to the nominee of the policy in case of untimely death of the insured.

This plan is for a policy term of up to 25 years in which the burden of heavy premium amount is reduc-ed.

Along with the premium benefits, tax benefit is also provided on income tax claims under the sections prescribed in the Income Tax Act.

For the annual payment mode, a discount is also given on the premium payment.

LIC Anmol Jeevan II Eligibility Criteria

The minimum age requirement is 18 years and the maximum entry age is 55 years

The minimum policy term is 5 years and the maximum policy term is 25 years (the maximum age to cover the risk cover in the policy is 65 years).

Death Benefit – Minimum amount of Rs. 6, 00, 000 and the maximum Sum Assur-ed is Rs.4, 00, 000

Mode premium payment is yearly and half yearly

Jeevan Mangal Yojana(Best Lic policy for 5 years)

Jeevan Mangal Yojana by LIC is a term insurance plan that can be brought for 5 years only through the premium payment option which gives a premium in return on maturity of the plan. The scheme offers premium payments either on a lump sum or on a regular basis which can be made on an annual, quarterly, half-yearly, monthly, weekly interval or fortnightly basis depending on the policy term.

Features of Jeevan Mangal Yojana

Best Lic policy for 5 years

The scheme is a pure security policy as it provides life coverage at low premium rates. Best Lic policy for 5 years.

The policy holder can choose the term of the policy as per his requirement

The premium is to be pa-id in a one-time single payment.

In case of accidental death of the insured, the principal amount named in the policy is pa-id along with additional benefits to the nominee of the policy.

The scheme offers guaranteed returns at a paid premium.

Also check independent insurance agent.

Benefits of LIC Jeevan Mangal Policy

LIC Jeevan Mangal Yojana offers several benefits which are given below:

Jeevan Mangal Yojana provides guaranteed repayment of the premium paid for the policy because if the insured survives the term of the policy.Best Lic policy for 5 years.

In case of death of the policyholder other than by accident, then the sum assur-ed which will be payable to the nominee of the policy on the death of the policyholder. For single premium plans will be more than 125 percent of the single premium paid excluding taxes and any additional premium paid on the policy .

The scheme provides additional tax benefit on the pay-out received through the scheme on the death of the insured or on the maturity of the policy as well as the premium paid on the policy.

Eligibility Conditions of Jeevan Mangal Yojana

The minimum  entry age is 18 years and the maximum age at entry is 60 years

The policyholder’s maximum age at maturity is 70 years.

The policy term for a single premium is 5 years.

Minimum installment premium Rs 15

Sum Assured in the plan – Minimum Rs. 10,000 and a maximum of Rs. 50,000 However, the Sum Assured in the policy will be in multiples of Rs. 1,000

The conclusion(Best Lic policy for 5 years)

LIC being the oldest insurance provider in India has several insurance plans to cater to the different needs of its customers and each plan has unique benefits. The best LIC policy is variable for 5 years as per the requirement of the customer. If you want pure security coverage then Jeevan Mangal is the best LIC policy for you to invest and if you want a reliable insurance plan for a 5-year tenure then you can buy the Anmol Jeevan II plan. However before purchasing an insurance plan you should make sure that it suits your need and requirement.

This is all about Best Lic policy for 5 years. Thanks for reading.

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