Story by Bahari Duniya | Written by Disha Sharma
Top LIC Savings Schemes to Build Wealth
LIC Jeevan Anand
This policy is a suitable choice for those seeking affordable life insurance along with long-term savings benefits. With a daily premium starting at around ₹45 (approximately ₹1,358 per month), it offers an easy way to plan for the future. The plan helps policyholders accumulate a maturity amount of up to ₹25 lakh over time. It comes with a minimum policy term of 15 years, and at maturity, a lump sum amount is paid along with applicable bonuses, ensuring both financial security and protection.
LIC Jeevan Shiromani
Designed for high-income earners, this plan combines a limited premium-paying term with long-term financial benefits. It allows policyholders to opt for a high sum assured, going up to ₹1 crore. For instance, a 30-year-old choosing a 20-year policy term would pay an annual premium of around ₹7.59 lakh. The premiums are required for only 4 years, while the policy benefits continue throughout the full 20-year duration, making it an attractive option for wealth planning with insurance coverage.
LIC New Endowment Plan
This plan is well-suited for individuals who prioritize steady investments while still wanting insurance protection. It combines long-term savings with life cover, making it a balanced and low-risk option. The scheme provides assured returns along with bonus additions over the policy term. For those seeking a secure investment avenue with guaranteed benefits, this plan offers financial stability and peace of mind.
LIC Jeevan Umang
This plan is ideal for those who want a steady income stream even after retirement. After completing the premium payment period, the policy offers a guaranteed annual payout of 8% of the sum assured, which continues throughout the policyholder’s lifetime. Along with lifelong income benefits, it also ensures full financial protection for the family, as the entire sum assured is paid to nominees in case of the policyholder’s demise.
LIC Jeevan Tarun
This plan is designed for parents who want to financially prepare for their child’s key life milestones such as education, marriage, or career planning. Premiums are paid until the child reaches 25 years of age. The policy provides annual money-back benefits from ages 20 to 25, helping meet ongoing expenses, and at maturity, a lump sum amount is paid along with applicable bonuses to support long-term financial goals.
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