Different Types of LIC Schemes

Life Insurance Corporation of India is the largest insurance company in India by having a large customer base with 98.53% of claiming ratio.LIC was established in 1956 and now having an asset value of almost 15,60,482 crores. LIC is offering many types of plans. They are

  1. Endowment plans
  2. Term Assurance plans
  3. Children plans
  4. Pension plans
  5. Micro insurance plans
  6. Health insurance plans
  7. Unit link insurance plans (ULIP)
  8. Special plans and
  9. Other plans.

Why to opt for LIC Life Insurance Plans?

LIC is said to be the largest life insurance company on the earth with 23 crore customers. The brand name is not the sole reason one should opt for LIC, since it is not ideal to rely on life insurance products from the single brand. Here are the following points why you opt for LIC.

  • Largest Insurance Provider: LIC has over 2000 branches in India and 156 abroad branches.
  • Have good partnership with other organisations: Have good collaboration with NSE, LIC Mutual fund, Stock Holding Corporation of India, Insurance Institute of India, National Insurance Academy and some similar organisations.
  • Have abroad branches: LIC has fully functional offices in countries such as Nepal, Sri Lanka, Saudi Arabia and Bahrain. It is also planning to open offices in Australia, Canada & USA.
  • Have variety of products: Have a wide variety of products.
  • Good performance in the stock market: LIC is the most well performing in Insurance related activities.

Types of plans available from LIC

Endowment plans

Again in Endowment plans, LIC is offering many types of plans according to the need of people.

  1. LIC’s New Endowment plan
  2. LIC’s New Jeevan Anand Plan
  3. LIC’s Single Premium Endowment Plan
  4. LIC’s Jeevan Rakshak
  5. LIC’s Limited Premium Endowment Plan
  6. LIC’s Jeevan Lakshya
  7. LIC’s Jeevan Labh
  8. LIC’s Jeevan Pragathi Plan
  9. LIC’s Aadhaar Stambh
  10. LIC’s Aadhaar Shila
  11. LIC’s Jeevan Umang

Different Types of LIC Schemes

Term Assurance Plans
  1. LIC’s Anmol Jeevan-II
  2. LIC’s Amulya Jeevan-II
  3. LIC’s e-Term Plan
Children Plans
  1. LIC’s New Children’s Money Back Plan
  2. LIC’s Jeevan Tarun
Pensions Plans
  1. LIC’s Jeevan Akshay – VI
  2. LIC’s New Jeevan Nidhi
  3. LIC’s Jeevan Shanti
Micro Insurance Plans
  1. LIC’s Bhagya Lakshmi
  2. LIC’s New Jeevan Mangal
Health Insurance Plan
  1. LIC’s Jeevan Arogya
  2. LIC’s Cancer Cover
Unit Linked Plan
  1. LIC’s New Endowment Plus
Special Plans
  1. LIC’s Jeevan Shiromani
  2. LIC’s Bima Shree
Other Plans
  1. LIC’s New Money Back Plans
  2. LIC’s New Bima Bachat

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