How can I choose my LIC policy?

Ideally, opt for a term plan, as it gives you a higher sum assured for a lower premium. When you venture into the market to buy a term plan, compare it on two parameters — cost and claim settlement ratio. “Pick a policy with the lowest premium, but a claim settlement ratio of more than 90\%,” said Mehta.

Which policy is best for life?

Top 10 Life Insurance Policies in 2021

Plan Name	Plan Type	Policy Term (Min/Max)
SBI Life eShield	Term	5 years to 30 years
HDFC Life Click 2 Protect Plus	Term	10 years to 40 years
Aviva i-Life	Term	10 years to 35 years
Future Generali Care Plus	Rural	5 Years to 30 Years

Which is better LIC Jeevan Anand or PPF?

The Public Provident Fund tends to provide a far superior rate of returns compared to an LIC policy like Jeevan Anand. What you should do is invest in the PPF and take a term policy online, which is cheaper and faster. In the term policy you do not get your money back, but, you are provided with solid insurance.

Can I have 2 LIC policy?

It is possible to claim two or more life insurance policies, it is completely up to the policyholder/insured to figure out the insurance needs and which plan he/she should buy. With increased responsibilities of families, bigger financial needs, two insurance policies might be required to suffice the increased needs.

Which is best LIC policy for child?

The parent can pick the one that best suits their needs and requirements and the one they believe would be best for their child. A few LIC policies for the girl child in India are mentioned as follows: LIC Jeevan Tarun. LIC Jeevan Labh….Eligibility:

PARAMETER	MINIMUM	MAXIMUM
Premium Paying Term	10 years	16 years

Which policy is better whole life or term?

Term coverage only protects you for a limited number of years, while whole life provides lifelong protection—if you can keep up with the premium payments. Whole life premiums can cost five to 15 times more than term policies with the same death benefit, so they may not be an option for budget-conscious consumers.

Which is best policy in LIC for girl child?

Which is better LIC vs PLI?

In terms of premiums, LIC has a higher rate of a premium compared to PLI. Many PLI plans offer a bonus which is quite high. Many LIC plans also offer bonus. However, the bonus rate is low compared to PLI plans.

Which is the best LIC plan for child insurance?

LIC’s most popular child plan: LIC’s Jeevan Tarun Plan 1 There are four money back benefits to choose from 2 Bonuses help increase the plan benefits 3 There is an optional premium waiver benefit rider for an enhanced coverage 4 There are two types of premium rebates which help in lowering the premium amount.

How to choose the best LIC policy for your financial goals?

So, plan your financial goals and then find the best LIC policy which best suits your financial goals. Invest in any of the above-mentioned policies and enjoy the benefits which the policy promises. To buy LIC’s policies you can choose Turtlemint.

What is LIC New children’s money-back plan?

LIC New Children’s Money-Back Plan LIC New Children’s money-back plan is a participating non-linked money-back plan. It is specially designed to meet the marriage, educational, and other requirements of raising children through Survival Benefits.

Which is the most popular Unit Linked Insurance Plan of LIC?

LIC’s most popular Unit Linked Insurance Plan: LIC’s New Endowment Plus Plan 1 LIC’s Linked Accidental Death Benefit Rider can be chosen as an optional coverage benefit 2 Four funds are available for investing the premium 3 Four free switches are allowed in a policy year for changing between funds