Insurance products


Life Insurance

Your life is precious and we make efforts to reduce risks in the best manner we can. As an important part of a sound financial plan, life insurance ensures financial protection and enables beneficiaries’ maintain the same lifestyle even after the demise of a loved one. The beneficiaries can utilize the money to replace the income one would have earned or help them pay off debts or other expenses.

Life insurance plans are classified into Term Assurance Plans, Whole Life Plans, Endowment Plans, ULIP, Money-Back Plans, Children’s Plans, and Pension Plans.

Why LIC is the best in Life Insurance?
  • It has the world’s largest customer base
  • It has around 22 crores policies
  • It has an asset base of 8 lakh crores
  • It is a strong financial public sector in India
  • It is safe to insure
  • It is the most trusted service brand according to the surveys.
Best LIC plans

Endowment Policy – Most popular plan for fulfilling long as well as short term financial needs.

Endowment Plus Policy –  Endowment Plus is a unit-linked product that offers investment-cum-insurance during the term of the policy. The Policy is available for people aged 7 years to 60 years for a policy term between 10 years and 20 years.  The minimum annual premium under the policy is Rs 20,000 for regular modes. Under ECS mode it is Rs 1,750 per month and minimum single premium is Rs 30,000. The plan offers a risk cover of upto 11-30 times of annualized premium or 1.25 times of single premium. Critical illness and accident benefit riders are also the benefits available with this policy.

New Janaraksha Policy –  A plan best suited for people with irregular income.

Jeevan Kishore –  A plan best suited for a child’s education and marriage.

Money Back Policy –  A plan which provides money at regular intervals.

Jeevan Saathi –  A plan for couples who want to have a joint life risk cover under the  same policy.

Jeevan Anand –  A whole life policy with double sum assured.

Anmol Jeevan –  A plan that offers huge risk coverage at low premium.

Jeevan Tarang – A plan for life time pension with three generation benefit policy.

Jeevan Nischay –  Single premium policy with guaranteed returns.

Insure and Be sure

Our first savings should always be towards insurance. Insurance cover taken is not for the insurer, but for the beneficiaries. It ensures that the near and dear ones are taken care of financially during the insurer’s absence.

What should be the sum assured?
The sum assured should be based on the following calculations:

  1. Sum up the monthly expenses (which is nothing but the essential amount spent for a peaceful and simple living.) It normally covers food, shelter (i.e. rent), medical, and clothing.
  2. Escalate the sum by 10% to 20% to take care of uncertainties.
  3. Convert the monthly total into annual sum.
  4. Divide the annual sum by the bank deposit rate. Say for example 12%.

The resulting sum is the life insurance coverage required.

For example, if the annual sum arrived using the following calculation is Rs. 1,20,000/- and the assumed deposit rate is 12%, the insurance coverage will be:

Rs. 1,20,000/12% = Rs. 10.00 lakhs.

What should be the policy type?
It is better to go for no-frills policy or pure life policy. This policy normally carries no bonus and the premium paid is not returned at the end of the term. But the premium is so low that the insurer will be proud to pay.

What should be the policy term?
An insurer can go for the maximum policy period; say for example, 20 years or more.

What are the benefits of the policy?
The policy offers financial security to the beneficiaries even after the demise of the insurer.

Term Assurance Plan

This life insurance plan offered by insurance companies seeks to cushion families from adverse financial consequences at low premiums. There is no maturity benefit in these plans.

Whole Life Plan

This plan provides financial protection against death throughout the lifetime of the life insured. It does not have a maturity date. However, the plan provides the option to take the sum assured plus the bonus declared for the policy anytime after 40 years from the date of commencement of the policy provided the policy holder has attained at least 80 years of age.

Endowment Plan

This is the most popular plan for fulfilling the long or short term financial needs of the policy holders. This plan provides life coverage till the policy term ends and also the maturity benefit at the time of the end of policy term The policy holder can also enjoy the bonus applicable for that policy at the time of maturity.


Unit Linked Insurance Plan (ULIP) is a combination of life insurance and investment. A small part of premium is utilized for providing life coverage and the balance is invested in units. If the insurer dies before the end of the plan period, the nominee would be entitled to the units and the amount of insurance coverage.

Money-Back Plan

Money-back life insurance policies rank high in the popularity chart. The reason is that these policies offer dual benefits of insurance and redemption of money at regular intervals.

Children’s Plan

These policies are for persons who want to provide money for their children’s education and marriage.

Pension Plan

These policies are most suited for senior citizens and those planning a secure future, so that they can lead a comfortable life.