LIC Endowment Plans are the most popular insurance plans and most favored as well. The Endowment plans insure you life, and also gives you a lump sum amount on the maturity. Endowment plans have the salient features of term pan and also promises a good amount as final settlement.
With Money Back Plans you do not have to wait for a long period before you get to see your investment giving back returns.
Endowment Plans Explained
Endowment plans are the traditional insurance plans wherein the policy holder’s life is assured for a limited period of time, known as policy term and as the policy term ends a lump sum amount is paid to the policy holder. In case of death of the policy holder during the policy term the sum assured is paid to the family.
New age endowment plans a have some added features like holiday premium, loan revival etc. Jeevan Anand and New Endowment plans are the all time popular plans from LIC an now Jeevan Labh and Jeevan Lakshya are two newly introduced plans that are the best sellers.
Tax Benefit of Endowment Plans
All the LIC endowment plans have dual tax benefit in-built. You get tax rebate on the premium payments under income tax section 80 (C) and the maturity and claim amounts received are exempted under section 10 (10) (D).
Best Endowment Plan
Some of the best selling endowment plans in 2019 from LIC are as under.
- Jeevan Anand
- Jeevan Labh
- Jeevan Lakshay
List of LIC Endowment Plans
LIC has some great many endowment plans some of which are running successfully since more than 2 decades now. In fact Jeevan Anand is one of the best selling endowment plan in the history of India insurance.
- Jeevan Anand (815)
- New Endowment (814)
- Single Premium Endowment (817)
- Jeevan Rakshak (827)
- Limited Premium Endowment (830)
- Jeevan Lakshya (833)
- Jeevan Labh (836)
Do get in touch with our insurance advisers to understand the LIC Endowment Plans. Secure your future, save tax and get a sump sum amount on maturity.
InsuringGurgaon.com is a leading LIC of India advisory firm based in Gurgaon. Our team of life insurance experts have an combined experience of over 40 years in life insurance services.