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LIC - Life Insurance Corporation – Best Plans & Policies

LIC Life Insurance: Get details on latest plans of Life Insurance Corporation and know about the best plans from LIC. Compare plans' features and benefits to get the clear picture of the plan which will guide you to buy policy. LIC offers plans for various sections of people from children to senior citizen.

LIC Completed its 58 years a few days ago, Main Highlights of LIC – Rs.17.69 Lakh crore worth assets, 259 Lakh claims settled last fiscal with claim settlement ratio of 99.6%. More Than 30 crore policy holders.

Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.

The contract is valid for payment of the insured amount during:
• The date of maturity, or
• Specified dates at periodic intervals, or
• Unfortunate death, if it occurs earlier

Who can buy LIC Policy?
Any person who has attained majority and is eligible to enter into a valid contract can insure himself/herself and those in whom he/she has insurable interest.
Policies can also be taken, subject to certain conditions, on the life of one's spouse or children. While underwriting proposals, certain factors such as the policyholder’s state of health, the proponent's income and other relevant factors are considered by the Corporation.
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Newly Launched & Best Insurance Policies/Plans of LIC 2014

LIC Jeevan Shagun - LIC’s Jeevan Shagun is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is a multiple of single premium.

LIC Varishtha Pension Bima Yojana - Varishtha Pension Bima Yojana (VPBY) as a pension scheme for senior citizens. Under the scheme a total number of 3.16 lakh annuitants are being benefited and corpus amounts to Rs.6,095 Crore.

Wealth Accumulations

1. New Bima Bachat : This is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy.

2. New Jeevan Anand : This is a participating non-linked plan which proposes a smart mixture of protection and savings.

3. New Endowment Plan 2014 : This is a participating non-linked plan which offers a smart mixture of protection and saving features.

4. Single Premium Endowment Plan : This is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy.

5. New Money Back Plan-20 Years : This is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term.

6. New Money Back Plan-25 Years : This is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan.

Health Plans

1. LIC Jeevan Arogya : A unique non-linked Health Insurance plan which provides health insurance cover against certain specified health risks and provides you with timely support in case of medical emergencies and helps you and your family remain financially independent in difficult times.

Pension Plans

1. LIC Jeevan Akshay VI : By paying a lump sum amount this immediate annuity plan can be bought.

List of Closed Insurance Policies of LIC

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About LIC
Every day we wake up to the fact that more than 250 million lives are part of our family called LIC.
Though this journey started over five decades ago, we are still conscious of the fact that, while insurance may be a business for us, being part of millions of lives every day for the past 52 years has been a process called TRUST.

LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from its corporate office in the year 1956. Since life insurance contracts are long term contracts and during the currency of the policy it requires a variety of services need was felt in the later years to expand the operations and place a branch office at each district headquarter. Today LIC functions with 2048 fully computerized branch offices, 109 divisional offices, 8 zonal offices, 992 satallite offices and the corporate office. LIC’s Wide Area Network covers 109 divisional offices and connects all the branches through a Metro Area Network.

Disclaimer: Please note that the information provided is collected from sources publicly available & we believe to be reliable. The website doesn’t warrant the accuracy, reliability & absolute information available on the website. Participation by site visitors or registered customers is on a voluntary basis. The policies are offered by various life Insurance & non-life insurance offering companies and Bimadeals does not seek to, either directly or indirectly, advise, offer, solicit or recommend that any person who is or proposes to become its member should purchase the Policy.
Insurance is the subject matter of solicitation.
Disclaimer: Information is sourced from respective Insurance Company's websites. does not sell any insurance products /policy on its own - we simply help registered users on our site connect to providers of such products and services so that their requirements can be processed quickly. Read More
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