Best LIC Schemes for Women in India 2022 Eligibility & Features

There was a time when financial planning was reserved for men only. But no! In this post we are talking about the best LIC policies for women in India. Let’s see.

Financial planning is no longer for the same sex or a specific group of people. Finally, the ideas that Indian people think about finance and economic planning are slowly disappearing. With this, several good and affordable policies have been launched by various insurance companies that cater to the needs of women.

Well, who cares if they are given the opportunity to earn more and save more for the future. Nothing, okay? Also, since life is unpredictable and women are vulnerable to many problems, they should have some kind of protection like a good LIC policy for women to secure their future. Hence, Life Insurance Company (LIC) of India, which is the most trusted and oldest name in the financial sector in India, has come up with some of the best LIC policies designed for Indian women. These policies are designed to meet Indian women and their needs.

Best LIC Schemes for Women in India 2022

Let’s take a look at these rules one by one to know more about them and their benefits:

1. Aadhaar Shila of LIC

Aadhaar Shila is a new offering from LIC of India which especially helps women in the country. It is considered to be one of the best savings plans available to women that allows them to save for a long time and protect their family in case of unexpected events. This plan comes with many benefits, such as:

  • Credit and Tax Benefits
  • The Goodness of Death
  • The Good of Maturity
  • Loyalty Supplements
  • Give benefits

Therefore, according to the Aadhaar Shila LIC policy, women can protect the nominee or the entire family with an assured sum as a death benefit in case of sudden death. The nominee also has the right to increase the loyalty if the insured dies after 5 years of the plan being completed.

Also, if the insured woman survives the term of the policy and reaches the age, she is entitled to receive the full amount assured at her age. Also, a loyalty bonus is given to customers who pay their bills regularly. Tax benefits are also available with this plan.

Eligibility:

Entry age – 18 to 55 years

Maturity – 70 years

Policy duration – 10 – 20 years

Guaranteed amount – starts from INR 75,000 – INR 3,00,000

2. LIC Jeevan Lakshya Plan

This is yet another women’s plan from LIC of India which protects the family of the insured mother and also gives special attention to the children. This is an endowment plan that pays the minors a lump sum in the event of the death of the insured. Here are the benefits:

  • The Goodness of Death
  • The Good of Maturity
  • The benefits of participation
  • Premium Fees

Here the nominee, especially the children are paid death benefits along with bonuses if the policy holder dies. However, the assured maturity benefit is paid under the policy to the insured (if he survives the period) or to his next of kin (if not) including the sum assured and bonuses. If the policyholders agree to participate in LIC’s various benefit schemes, they can avail the participation benefits at maturity. Another point of the policy is that the borrower must pay the installments for three years less than the term of the policy.

Eligibility:

Entry age – 18 to 50 years

Maturity – 65 years

Policy Term – 13 – 25 years

Guaranteed amount – starts from INR 100000 to No upper limit

3. LIC New Jeevan Anand Plan

Jeevan Anand is a delivery plan and a new LIC policy for women. This is a unique plan as it allows the policyholders to enjoy the coverage even after the plan matures till the death of the insured. Hence, the policyholders get lifetime protection under the policy along with a guaranteed maturity benefit. Benefits received are:

  • Benefit of Death
  • Maturity benefits
  • Bonuses

So, like in other plans here too the policyholder receives the death benefit if the policyholder dies before the policy matures. On the contrary, if the insured survives the term of the policy he is entitled to receive the sum assured on maturity along with bonuses. Under this plan, the earned bonuses are collected and paid on maturity of the policy or to the nominee after the death of the policyholder.

Eligibility:

Entry age – 15 to 50 years

Maturity – 75 years

Policy Term – 15 – 35 years

Full assurance – There is no guarantee limit

4. LIC Jeevan Pragati Plan

Another new plan from LIC, Jeevan Pragati is one of the best LIC plans for women who are looking for financial security and savings for retirement. Benefits include:

  • Benefit of Death
  • Maturity Benefit
  • Sum Assured increases after 5 years

Therefore, under this policy the nominee gets the death benefit if the insured dies before the policy matures along with the bonus amount. However, if the policyholder survives to maturity and the entire premium has been paid, he is entitled to the full amount assured and bonuses.

Another notable feature of the policy is that if the policyholder pays the full amount on time, the sum assured of the policy increases by a certain percentage every five years.

Eligibility:

Entry period – up to 45 years

Maturity – 65 years

Policy Term – 12 – 20 years

Full Guarantee – INR 1, 50, 000 – No upper limit

Also Read: LIC’s Top 5 Year Plans in 2022

Finally

The above plans are some of the new LIC policies for women which are in their best interest. These plans are excellent in providing women with the financial security they need. These are policies that a woman can afford and can easily purchase from any LIC branch office. All you need is your ID and proof of address along with proof of your income. The premiums for such plans can be paid as per your requirement on monthly, quarterly, bi-annual and annual basis.

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