Saving up for the future is everyone wish, we all want a bright future ahead and ensure you are safe in case a misfortune happens. The tricky part is when choosing the best saving plan. The fear of investing in the wrong schemes cripples our minds making some people not take up the plans seriously.
LIC a popular insurance company in the India country, has contributed to the fact that people should invest and have enough when need a rises. LIC has several plans where all people can invest to benefit with the whole family.They have the best saving plans where one benefits are felt in a life time. The plans have different age limits but serve all citizens without discrimination.
LIC Jeevan Akshay VI:
They plan is basically referred to as a single premium immediate annuity plan. The plan is flexible and can be paid once. The price is fixed and goes for a life time. The plan fall on the non-unit linked plan and is active taking the ages 30-85 years. The minimum amount to be paid is RS 1, 00,000 offline which direct to the counter. RS 1, 50,000 for the online payment method. Note the plan has no maximum amount the member or policy holder can contribute any amount above the minimum amount.
It has annuity options for member to select from, you can pay in small bit but in uniform rates. The plan doesn’t offers loans and no surrender value but has a lot of benefits.
LIC e-term plan
This a life cover plan which comes in handy when a misfortune begets your family. The plans also acts as saving plan and a regular plan but has no bonus. The plan is flexible as one doesn’t need to visit the agents but apply online. The plans is based on agreement of the policy holder to pay a certain amount. They also agree on an amount paid if the policy holder dies prematurely. However if it doesn’t happen the money is not paid. The amount ranges from RS 25, 00,000 and non-smokers category RS 50, 00,000. LIC e-term has no maximum amount and one can contribute as much as possible. The plan accommodates ages 18-60 years and no loans offered for the loan.
LIC new children’s money back plan
This a non-linked policy and has profit regular payments. It was officially launched in the year 2015 and has gone strong up to date. The plan also acts as investment plan where it stands in for the education, marriage and all children basic needs. It a flexible cover as it cover on risk and as protection cover. RS 100,000 as the minimum amount with no maximum amount. The amount can be paid in installments with an age limit of 0-12 years. The plan has a surrender value if the amount has been paid for the right duration of three years.
LIC Jeevan Anand plan
The plans standing for both saving and protection. It is a non-linked plan and has advantage over other plans. The gives a life protection cover even when the plan is terminated. The age limit is from 18 -50 years and a maturity of age 75 years.