The Life Insurance Corporation of India is owned by the Union Government that provides different life insurance policies to the people according to their needs. Indian citizens reliably invest in the LIC policies as they are sure about getting guaranteed returns. The reasons why LIC has gained much reputation among the common people of India is due to their outstanding service and having the privilege of being a government-owned entity dealing with life insurance policies.

Best LIC policies of 2020

Along with the existing ones, LIC has introduced some new insurance policies in which you can invest in 2020. Here, all the details of the new policies are comprehensively discussed. Any person who is looking forward to investing in the LIC policies can go through the article to know about the best LIC policy.

LIC Tech Term Plan

The LIC Tech Term Plan has been launched in 2019, and it comprises several features and benefits. In this plan, the policy owner will not need any intervention from the agent. One can easily manage this policy online. Moreover, this policy is cheap in terms of the premium EMIs that one needs to provide. The following features and benefits make it the best LIC policy in India.

Exciting features of LIC Tech Term Plan:

• The policy plan is available in two variants like the sum assured policy and increasing sum assured policy.
• LIC Tech Term gives Rs. 50 lakhs as the minimum sum assured while having no upper limit for the same.
• The tenure of the coverage provided by this policy is 80 years.
• Instalments can be taken on death benefits on 5, 10 and 15 years.

Benefits of taking the LIC Tech Term:

• LIC Tech Term is entirely a term policy which can provide more returns during the maturity.
• This policy can be managed online by the policyholder himself.
• The policyholder has the right to choose the sum assured variant.
• LIC Tech Term provides benefits to the women and non-smokers, allowing lower premium EMIs.

LIC New Childen’s Money Back Plan

The Children’s Money Back Plan is one of the best insurance policies in which the parents can invest to ensure the well-being of their children. Apart from saving the invested money, this policy can provide risk coverage for your children. You can easily get the money to meet the monetary necessities for your children for education, illness, marriage etc.

Features of LIC New Childen’s Money Back Plan:

• The New Children’s Money Back Plan demands the minimum sum assured to be Rs. 1 Lakh.
• There are no upper limits of the sum assured, but the investor must provide the cash in multiples of 10,000.
• The Maturity age of the plan is 25 years.
• Death benefits and survival benefits are offered in this insurance policy.

Benefits of LIC New Childen’s Money Back Plan:

• Loan facility is available against the LIC New Childen’s Money Back Plan.
• It has a shorter maturity tenure of 25 years.
• The premiums can be paid on ECS (Electronic Clearing Service) and SSS (Salary Saved Scheme) mode on a monthly quarterly and yearly basis.

LIC Jeevan Amar Plan

The LIC Jeevan Amar Plan is another term insurance policy that one can apply for in the traditional way. So, the people who are not exposed to the digital medium can start with LIC Jeevan Amar. This policy has been launched by the LIC in 2019.

Features of LIC Jeevan Amar Plan

• The LIC Jeevan Amar Plan is a pure term insurance policy.
• Here, the death benefits can be taken on instalments or single withdrawal.
• For this policy, the maturity tenure can be up to 80 years.

LIC Jeevan Umang

People can invest in the LIC Jeevan Umang Plan as it gives an outstanding coverage up to 100 years. You can invest in the LIC Jeevan Umang Plan as it can provide you with several benefits. Some features and benefits of this loan policy are mentioned below:

Features of LIC Jeevan Amar Plan:

• The LIC Jeevan Amar Plan is non-linked in nature.
• You can get 8% of the sum assured as the policy term ends.
• Loan facility is available on this insurance policy apart from the clause related to the suicide of the policyholder.

Benefits of LIC Jeevan Amar Plan:

• Premium payment is paid as a death benefit if the risk is not commenced while the insured dies.
• One can get the final additional bonus, premium payment and acquired bonus if the death of the policyholder occurs after the commencement of risk.
• Survival bonus is 8% for this plan which is given to the insured person.
• The final assured bonus is a lump sum in case of this policy.

So, these are some leading LIC policies in which you can invest your money in 2020. However, before investing the money, try to have a detailed talk with your LIC agent. You should be completely sure about the benefits when purchasing any insurance policy.