LIC offers a number of attractive plans for a designated term of 5 years. Under its 5 years plans, the public life insurance company offers the following plans – Group Insurance, Micro Insurance and Retirement Plans. However, no LIC plan can guarantee double money in 5 years as the returns on the plans are never guaranteed. LIC 5-year insurance plans can be chosen by customers for a variety of reasons like easy to understand terms, shorter premium paying period, an open option to convert the scheme to a longer one in future etc.
Best 5-Year LIC Plans Offered in India are:
1) Retirement Plans:
Retirement plans are a great financial tool to take care of your future financial needs especially once you retire from work. Retirement plans help you save and invest so that you have a certain disposable income or funds in hand. Retirement plans offered by LIC are –
-Jeevan Akshaya VI
-LIC’s New Jeevan Nidhi
2) Micro-insurance plans:
Micro insurance plans are a perfect mix of insurance, investment and savings. The micro-insurance plan from LIC for up to 5 years of policy term is listed as under:
-New Jeevan Mangal Plan
3) Group Insurance Plans:
Group Insurance plans are best suited for companies who wish to provide insurance to their employees as an added perk. The following group plans are offered by LIC:
-LIC’s Group Credit Life Insurance
-LIC’s Single Premium Group Insurance
Insurance policy from LIC can be bought by customers either online or by visiting any of the LIC offices. An online application form can be filled up on the LIC website which will enable LIC representatives to contact you with regards to the insurance that you wish to avail. Also, LIC has offices in almost all cities and towns of the country; these can directly be contacted to obtain information and buy LIC insurance schemes.
Alternatively, LIC customer care representatives can be contacted via phone for details regarding insurance policies offered by the company.