Top 6 LIC Policies To Invest in 2022

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Today we will talk about LIC Tech Term Plan, LIC Jeevan Amar Plan, LIC e-Term Plan, LIC New Children Money Back Plan, LIC New Jeevan Anand, LIC Jeevan Umang.

Currently, LIC is a brand that is at the top in the insurance market and the most trusted and reputed among all other similar companies. Since LIC has a very wide range of products/policies like whole life, term plan, money back, endowment, etc., it often becomes difficult for a person to choose the right one for himself. If you are looking for the best policy among all, here is a comparison for you which will help you to select the right fit.

How to identify Best LIC Policy?

In order to select the best insurance policy, one must know the purpose he is buying it for. The 2 main reasons for which people buy the insurance policy are, either to provide protection in terms of money to the surviving dependents after the death of the policyholder or some take it as an investment where the principle idea is to get capital appreciation or regular income from the policy.

Once the purpose is decided and finalized, next comes the identification of a suitable type of plan. LIC has many kinds of insurance policy, such as:

  • Term Plan- It has pure risk coverage
  • Endowment Plan- Includes insurance cover + Savings
  • Money-Back Plan- It has insurance cover with periodic returns
  • Child Plan- This is specially designed for a child’s education
  • Whole Life Insurance- This gives life insurance coverage for a lifetime

Now after deciding the most suitable type of plan for yourself, have a look at the following aspects which is equally important to do-

  • Check the unique features offered by the plan
  • Insurance rider benefits
  • Checking the exclusion of a life insurance policy is also important
  • Make a cost & benefit analysis of the plan

Top 6 LIC Policies To Invest in 2022


This plan is a pure term plan which was launched in 2019. It is one of the best plans from LIC. It is very cheap, or you can say the cheapest and another good thing about this is that it can only be purchased online and involves no agent intervention. It comes with 2 options that are- the level sum assured & increasing sums assured.

  • It is a complete online term life insurance plan
  • The minimum sum assured on this plan is 50 lakhs & there is no upper limit on the sum assured.
  • After the death, death benefits can be taken in installments of 5, 10, or 15 years.
  • Two options- level & increasing sum assured.
  • Option 1: Level Sum Assured: The absolute sum assured amount to be paid on death remains the same throughout the policy term.
  • Option 2: Increasing Sum Assured: The absolute sum assured amount to be paid on death remains the same till completion of the 5th policy year.
  • The annual premium rate is lower for non-smokers & women.
  • Can be purchased online.
  • Premium rates are lower.
  • Pure term plan.
  • Flexibility to select from the two options available.

Eligibility Details of LIC TECH TERM PLAN:

Minimum Maximum
Entry Age 18 65
Maturity Age 28 80
Policy Term 10 40
Sum Assured 50,00,000 No Limit
Premium Payment Term Single/Limited/Regular
Premium Payment Frequency Yearly / Half – Yearly or as Single-Premium
More Information on Tech Term Plan


LIC is also a pure term plan again launched in 2019. A slight disadvantage to this can be that it can only be purchased in offline mode. This term plan also offers the same 2 options- the level sum assured & increasing sum assured.

  • It is a non-linked, non-participating pure term plan.
  • Two options are available to choose from- the level sum assured & increasing sum assured.
  • The death benefits, in this case, can either be taken in a lump sum or installments.
  • The premium can be paid regularly, one time or lump sum.
  • Maximum maturity age for this plan is 80 years.
  • Special rates for women.
  • Coverage by opting for Accident Benefit Rider on payment of additional premium for rider benefit.
  • Flexibility to: i) Choose from Single Premium, Regular Premium and Limited Premium Payment, ii) Choose the Policy Term/Premium Paying Term and Opt for payment of benefit in instalments.
  • Premium rates are on the lower side.
  • The increasing sum assured options available for the policyholder.
  • This is a term plan that offers higher risk coverage.

Eligibility Details:

Minimum Age at entry [18] years (Last Birthday)
Maximum Age at entry [65] years (Last Birthday)
Maximum age at Maturity [80] years (Last Birthday)
Maximum Basic Sum Assured Rs. 25,00,000/-
Maximum Basic Sum Assured

 No Limit

The Basic Sum Assured shall be in multiples of:
Rs. 1,00,000/-, if Basic Sum Assured for the policy is Rs. 25,00,000/- to Rs. 40,00,000/- Rs. 10,00,000/-,  if Basic Sum Assured for the policy is above Rs. 40,00,000/

Policy Term  [10 to 40] years
Premium Paying Term
  • Regular Premium :Same as policy term
  • Limited Premium : i) [Policy Term minus 5] years for Policy Term [10 to 40] years ii) [Policy Term minus 10] years for Policy Term [15 to 40] years
  • Single Premium : NA
More Information on Jeevan Amar Plan


It is a pure term plan offered by LIC, which provides financial protection to the insured family in case of an unfortunate event. This policy can be bought online without and does not require any agents.

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Key features & benefits of the plan are as follows-

  • This plan can be purchased online only, and no involvement of intermediaries is possible.
  • Preferential premiums for non-smokers and females.
  • It is a traditional plan which is non-participating.
  • Assured high sum.
  • An option of choosing a long tenure of 35 years is available.
  • Income tax benefit can be taken on the premium which would be paid.
  • A specific amount is assured as a death benefit that would be given to the nominees.

A negative point about this plan is that the premium amount that will have to be paid in this term plan is higher than other plans that are available in the market nowadays.

More Information on e-Term Plan


It is something which is non-linked & has a regular premium payment policy in it. This plan helps in meeting the basic needs of the growing and upcoming children like education, their marriage, and other necessities. This plan also provides a risk cover to the insured child under the policy term.

  • Money-back payment on regular intervals if survived.
  • There is no limit on the maximum basic sum assured.
  • Minimum Sum assured is of Rs 1 lakh.
  • Customer can easily return the policy within 15 days of purchasing it.
  • Grace period will be given 15 days for monthly payment option and 30 days for other payment modes.
  • A facility to take a loan after 3 years is available that might be helpful for many.
  • Death benefit, maturity benefit and survival benefit.

Death Benefits

  • The premium payment will be paid if the death of the insured person occurs before the commencement date of risk.
  • If the death of insured occurs after the commencement of risk, then Sum assured+ Final additional bonus+ Accrued bonus will be paid.
  • This death benefit shall not be less than 105% of the total premiums paid as on date of death.

Survival Benefits

  • Money-back payment, 20% of the sum assured will be paid after every 2 years once 18 years of age is attained.

Maturity Benefit:

  • Sum Assured on Maturity ( which is 40% of the Basic Sum Assured) along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.

Participation in Profits:

  • Receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

One negative point for this plan is that the maximum expected return from this plan can be 5-6% which is very low to meet the requirements of children’s education & marriage.

Eligibility Details:

Minimum Basic Sum Assured Rs. 100,000
Maximum Basic Sum Assured
(The Basic Sum Assured shall be in multiples of Rs. 10,000/-)
No Limit
Minimum Age at entry for Life Assured [0] years (last birthday)
Maximum Age at entry for Life Assured [12] years (last birthday)
Minimum/ Maximum Maturity Age for Life Assured  [25] years (last birthday)
Policy Term [25 – Age at entry] years
More Information on New Children Money Back Plan


This policy is a new or latest version of the old Jeevan Anand policy. This term plan is a participating & non-linked endowment plan.

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Following are its key features & benefits-

  • A complete financial cover to the family.
  • A loan can be easily availed under this policy.
  • One can enjoy premium rebates.
  • Minimum Policy term 15 years and Maximum Policy term 35 years.
  • Grace period is 15 days for monthly mode and 30 days for all other modes.
  • Minimum sum assured is Rs. 10,000.
  • Tax benefits as applicable.
  • Death benefit: In case of death of the person insured before the completion of the policy term, Sum Assured on death + vested simple reversionary bonuses & the final additional bonus is payable.
  • Survival benefits: If the policyholder survives till the completion of the policy term, then, the basic sum assured+ vested simple reversionary bonuses & the final additional bonus is payable. Additionally, accidental benefits can be taken along with this plan.
  • Maturity benefit- Maturity benefit which will be paid at the end of policy term considering all the premiums have been paid in full. Sum assured along with reversionary bonus and final additional bonus will be paid as maturity benefit.
  • Convenience- The plan can be purchased online with no hassles.
  • Flexibility-It has a flexibility of paying premiums monthly, quarterly, biannually or annually depending on what the customer is want.

A negative point about this policy to be highlighted is that exit from this plan in an initial year is difficult as this plan offers lower returns of 4-6% initially.

Eligibility Details:

Minimum age at entry 18 years
Maximum age at entry 50 years
Minimum sum assured Rs. 10,00,000
Maximum sum assured No limit on the maximum basic sum assured
Minimum policy term 15 years
Maximum policy term 35 years
Maximum maturity age 75 years
More Information on Jeevan Anand Plan


This is a non-linked whole life insurance product. It provides complete coverage of up to 100 years of age. Another thing about this plan is that a lump sum amount is provided at the maturity of the term or death of the policyholder during the term of the plan.

Its key features & benefits are-

  • It is a whole life insurance policy with a maximum coverage up to 100 years.
  • At the end of the term, 8% of the Sum Assured is paid back.
  • Term rider & accidental death disability rider is available.
  • It provides loan facility & covers the suicide clause.
  • Tax benefits provided as applicable.
  • Death benefit: First, Premium will be paid if the insured person dies before the commencement of risk. Secondly, the sum assured+ final additional bonus + Accrued bonus is paid if the person dies after the commencement of risk.
  • Survival Benefit: The policyholder is paid 8% of the Basic Sum Assured every year until the maturity of the term plan.
  • Maturity Benefit:Assured sum on the maturity of the plan along with the vested reversionary bonuses & the final additional bonus is paid.

Eligibility Details:

Minimum Basic Sum Assured Rs. 2,00,000
Maximum Basic Sum Assured No limit (The Basic Sum Assured shall be in multiples of Rs. 25,000/-)
Premium Paying Term 15, 20, 25 and 30 years
Policy Term (100 – age at entry) years
Minimum Age at entry 90 days (completed)
Maximum Age at entry  55 years (nearest birthday)
Minimum Age at the end of premium paying term 30 years (nearest birthday)
Maximum Age at the end of premium paying term  70 years (nearest birthday)
Age at maturity 100 years (nearest birthday)

A negative point about this plan is that it is not a pure life plan & the returns from this plan are poor.

More Information on Jeevan Umang Plan

From the above comparison of top 6 LIC policies to invest your money in 2022, it can be concluded that a potential buyer or a potential investor has plenty of options with him to look upon. You can choose the term plan which suits their purpose of buying and the plan that suits your other requirements too.

It is recommended not to listen to an agent who will always try to sell the plan to you because he will be earning a lot of commission from it. So, the person who wants the insurance cover must research himself thoroughly & then decide the suitable plan.

Sushma Singh

Sushma is a financial expert and online entrepreneur. With years of experience in personal finance and business management, she is dedicated to empowering individuals to take control of their finances and make smart investment decisions. Through Moneymint's website, she provides insightful tips, strategies and resources to help individuals grow their wealth and achieve financial stability. Join Sushma on the journey to financial freedom today!

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