LIC (Life Insurance Corporation of India) offers various insurance policies that cater to the needs of women. The best LIC policy for women depends on individual requirements, financial goals, and risk appetite.
Here are some popular LIC policies that women may consider:
- LIC New Jeevan Anand: This is a traditional participating endowment plan that offers life cover and a lump-sum amount at maturity. It provides financial protection and a savings component, making it suitable for women looking for both insurance and investment.
Eligibility for LIC New Jeevan Anand Plan:
Entry age – 15 to 50 years
Maturity age – 75 years
Policy Span – 15 – 35 years
Sum assured – No limit to sum assured
- LIC Jeevan Lakshya: This policy is designed to meet the needs of families where the assured sum becomes payable on the policyholder’s survival to the end of the policy term or on their unfortunate death before the maturity date.
Eligibility for LIC Jeevan Lakshya Plan:
Entry age – 18 to 50 years
Maturity age – 65 years
Policy Span – 13 – 25 years
Sum assured – ranges between INR 100000 to No upper limit
- LIC New Money Back Plan: This policy provides periodic payouts during the policy term, which can be helpful for women to meet financial needs at different stages of life.
- LIC Jeevan Umang: This is a non-linked, whole-life insurance plan that offers a combination of protection, savings, and regular income. It provides life cover throughout the policyholder’s life and pays a survival benefit at regular intervals.
- LIC Single Premium Endowment Plan: This plan requires a one-time premium payment and offers life cover for a specified term. It can be suitable for women who prefer to make a single premium payment rather than regular premiums.
Before selecting any insurance policy, it’s essential to assess your financial objectives, risk tolerance, and affordability. It is advisable to consult a financial advisor or LIC agent who can provide personalized recommendations based on your specific needs and financial situation.
Always read the policy documents thoroughly and understand the terms and conditions before making a decision. Remember that the suitability of a policy varies from person to person, so it’s essential to choose a policy that aligns with your financial goals and requirements.