Best LIC Plans to Invest in 2023 – Latest High Value Plans

Introduction – Best LIC Plans to Invest in 2023 – Latest High Value Plans

Ever since its inception in 1956, LIC has been maintaining its stronghold in the Life Insurance domain with its wide-ranging plans and customer support. It currently boasts of one of the largest customer bases in India, in addition to occupying the biggest market share among other leading insurance providers.

Top LIC Plans to Invest in 2023 (

Best LIC Plans to Invest in 2023 – Latest High Value Plans )

While the uncertainty of life has its charms, it also throws some of the worst financial problems at us. Life insurance helps us bear these circumstances and offset some of the economic risks that come with them. LIC has been at the forefront of designing such policies ( Best LIC Plans to Invest in 2023 ) that help cover our financial troubles and potentially secure our long-term goals in life. Even after 64 years, LIC plans continue to remain relevant to the current needs of society at large.

The state-owned entity has introduced and constantly update new and existing policies to offer its large customer base with a range of insurance products such as Whole Life and Term Insurance plans, ULIPs, Money-back plans, Pension plans, among others. The 05 of the best LIC Plans (Best LIC Plans to Invest in 2023 )  that you should consider investing in are detailed below. To help you make the most informed decision, we have described the key features of the above-mentioned plans.

1- LIC New Jeevan Anand ( Best LIC Plans to Invest in 2023 )

LIC New Jeevan Anand is a type of endowment plan designed to offer dual benefits of protection and savings. While it assures financial protection of your family in the event of your death, it also pays off a lump sum amount to you if you survive the policy term.

It provides a death benefit in case of policyholder’s demise during the policy tenure. The policy also provides survival benefit if the policyholder survives the policy term or death occurs after the policy matures. However, to be eligible to receive this benefit, you have to ensure that all the due premiums have been paid.

It also offers an additional bonus in the form of a Simple Reversionary Bonus and Final (Additional) Bonus in addition to the basic sum assured, subject to a certain minimum term. A policyholder can also enhance the protection cover by adding suitable riders such as Accidental Death and Disability Benefit Rider. Further, riders against Critical Illnesses can also be availed of under this policy.

2- LIC Tech Term

It is an online pure risk term insurance cover. The plan offers extensive coverage against the policyholder’s death to her/his family. The benefits can be used by the family to secure short-term and long-term goals and maintain a healthy standard of living.

The policy provides a death benefit and enables a policyholder to select from two death benefit options, that are Increasing Sum Assured and Level Sum Assured. Policyholders also have the option to receive the sum assured on death as regular installments instead of a lump sum payout.

The plan offers flexibility in the mode of premium payment, viz. Single, Limited, and Regular payments. The premiums can be made online which makes this plan an ideal option for the digitally forward population. The policy holder can choose LIC’s Accident Benefit Rider to receive an additional payout with the death benefit.

3- LIC New Endowment Plus

This is a unit-linked endowment plan that offers combined benefits of investment and insurance. It offers buyers to invest in multiple fund options as a measure to maximize their savings. The policy offers flexibility in premium payments. A policyholder can choose premium payment terms like annual, half-yearly, quarterly, and monthly.

It also provides a death benefit. If death occurs before risk commencement, an amount equal to the fund value is paid to the nominees. However, if death occurs after the risk commences, an amount equal to the basic sum assured or the fund value (whichever is higher) is paid. The feature of optional benefit/ riders is also offered. A policyholder can opt for Accidental Death Benefit Rider to ensure extra protection if death occurs as a result of an accident.

4- LIC Jeevan Shiromani

LIC’s Jeevan Shiromani plan is a life insurance savings option specifically designed for individuals with a high net worth. The minimum sum assured under this plan is Rs. 1 Crore. Individuals can enjoy accrued guaranteed additions (up to Rs.55 per thousand basic Sum Assured). Further, loyalty additions subject to company profits can also be availed by the policyholders.

Under death benefit sum assured on death is payable as 125% of the basic sum assured or 7 times the annualized premium, whichever is higher. The policy provides survival benefit as a fixed percentage, ranging from 30% to 45% of the basic sum assured depending on the policy term.

The policy also offers sum assured on maturity ranges from 10% to 40% of the basic sum assured. Further, applicable loyalty additions and accrued bonuses are paid along with the maturity benefit.

The plan also comes with the following rider benefits to get enhanced protection:

Accidental Death and Disability Benefit Rider, Accident Benefit Rider, New Term Assurance Rider, New Critical Illness Benefit Rider

5- LIC Jeevan Amar

The LIC Jeevan Amar plan is a non-linked, pure protection plan. This term insurance plan comes out with reasonable premium rates, which makes it an economical choice for those on a budget. The death benefit payable under this plan can serve as a strong financial measure for the policyholder’s family in the event of her/his death.

The death benefit can be paid out as – Level Sum Assured, wherein the sum assured remains constant throughout the policy term Increasing Sum Assured, wherein the sum assured increases at a fixed percentage of the basic sum assured. Flexible premium payment term as a single lump sum amount or as periodic payments under Regular and Limited payment modes.

Offers rebates with a single premium payment. The rebates differ according to the age of the policyholder, the sum assured, and the death benefit option. Please note that the minimum sum assured has to be Rs.50 Lakhs to be eligible for this rebate.

Summary – ( Best LIC Plans to Invest in 2023 )

While the options discussed above are vast in terms of their scope and features, each plan serves to fulfill the inherent need for financial security. Be it to secure your child’s education, your family’s life, post-retirement planning, or maximizing savings, LIC plans are designed to be comprehensive and are some of the most rewarding in the Life Insurance space today.* So go ahead and pick your best life insurance plan from LIC and make way for a secure and stable future.

Disclaimers –

All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply. Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023. Returns Since Inception of LIC Growth Fund.

Source –

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S. No.	LIC Policies	Policy Type	Entry Age	Maximum Maturity Age	Policy Term	Minimum Sum Assured (Rs.)
1	LIC New Jeevan Anand	Endowment	18 – 50 years	75 years	15 – 35 years	1 Lakh
2	LIC Tech Term	Term	18 – 65 years	80 years	10 – 40 years	50 Lakhs
3	LIC New Endowment Plus	ULIP	90 days – 50 years	60 years	10 – 20 years	10 times the annualized premium
4	LIC Jeevan Shiromani**	Money-back	18 – 55 years	69 years	14, 16, 18, 20 years	1 Crore
5	LIC Jeevan Amar	Term	18 – 65 years	80 years	10 – 40 years	25 Lakhs