5 Best Life Insurance Policy in India 2020|| Jeevan Akshay


5 Best Life Insurance Policy 2020

Today we will talk about the 5 best life insurance policies that will benefit you in the future. These plans can be taken for all family members such as your parents, children and your family.
Some of your earnings need to be deposited for the future because you do not know what your future will be. The future could be a hard problem or your son may need money to get married.
You will need money at a time when you may not have money or you may not have earnings at that time. At that point, you will need the money deposited. That is why we need to make some money by thinking about the future.
You have decided to make money but do not know where to deposit, you are wondering where to deposit, where to deposit will get more profit. Thinking about where my money will go, etc., let me tell you where to invest your money.

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Below are the 5 all-inclusive plans

1. LIC Jeevan Akshay

LIC's Life Goal can be a participating non-linked plan that offers a mix of security and savings. This plan provides for Annual Income benefit which will help to satisfy the requirements of the family, primarily for the advantage of children, just in case of unfortunate death of Policyholder any time before maturity and a payment amount at the time of maturity regardless of survival of the Policyholder. The plan also takes care of the liquidity needs through its loan facilities.
Death Benefit:
Death benefits, defined as "the sum of the sum insured on death," will be payable on the Simple Reversionary Bonus and the final additional bonus, if any.
The benefit described above is not 105% of all premiums paid on the date of death.
Maturity Benefit: Basic Sum Assured is sufficient to pay the "Sum Assured on Maturity" as well as the Simple Reversionary Bonus and the Final Additional Bonus, if any, all outstanding premiums will be payable in case of survival at the top of the policy term provided.

Eligibility Conditions and Other Restriction

 a) Minimum Basic Sum Assured =  Rs. 100,000(Offline) 1,50,000 (online)
b) Maximum Basic Sum Assured =  No Limit
 c) Minimum Age at entry for Life Assured = 30 years
 d) Maximum Age at entry for Life Assured = 85 years
e) Modes of Premium:- Yearly, Half-Yearly, Quarterly, Monthly

Death and Maturity Benefits

Death Benefit:-In case of the policyholder is death
125% of the basic sum assured
10 time the annualized premium
105% of the entire premium paid till the insured event.
Maturity Benefit:- If the policyholder survives the whole policy term the sum assured is paid out because of the maturity benefit.

2. LIC e-term Insurence

LIC e term insurance plan is a pure life cover plan that provides financial protection to the insured’s family in case of any unfortunate event. This e-term policy will be available through the online application process only and no agents are required.
Date Benefit:- During the policy term if the unfortunate death of the life assured then The sum assured will be payable.
Maturity Benefit:- If the individual survives the policy, nothing shall be payable.

 Eligibility Conditions and Other Restriction

 a) Minimum Basic Sum Assured = Rs. 25,00,000
b) Maximum Basic Sum Assured = No Limit
 c) Minimum Age at entry for all times Assured = 18 years
 d) Maximum Age at entry for Life Assured = 60 years
 e) Minimum/ Maximum Maturity Age for = 75 years
f) Policy Term : (10 – 35) years
g) Modes of Premium:- Yearly, Half-Yearly, Quarterly, Monthly

Death and Maturity Benefits

Death Benefit:-In case of the policyholder is death
125% of the basic sum assured
10 time the annualized premium
105% of the entire premium paid till the insured event.
Maturity Benefit:- If the policyholder survives the whole policy term the sum assured is paid out because of the maturity benefit.

3. LIC New children’s Money Back Plan

LIC's New Children’s a refund Plan may be a participating non-linked a refund plan. This plan is specially designed to satisfy the tutorial, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the danger cover on the lifetime of the child during the policy term and for a number of survival benefits on surviving to the top of the specified durations.

Eligibility Conditions and Other Restriction

 a) Minimum Basic Sum Assured = Rs. 100,000
b) Maximum Basic Sum Assured = No Limit
 c) Minimum Age at entry for all times Assured = 0 years
d) Maximum Age at entry for all times Assured = 12 years
e) Minimum/ Maximum Maturity Age for = 25 years
f) Policy Term = 25 years
g) Modes of Premium:- Yearly, Half-Yearly, Quarterly, Monthly

4. LIC Jeevan Anand

LIC's Jeevan Anand Plan can be a constituted non-linked plan that offers a beautiful multitude of security and savings. This multitude provides financial protection against the life-loss of the policyholder with the supply of lumpsum at the top of the selected policy heading for its uplift. The plan also takes care of the liquidity needs through its loan facilities.

Death benefit


Provided all due premiums are paid, the subsequent benefit shall be paid:
Upon death during the policy term: Benefits, simple reversionary bonus and final surplus bonus, if any, determined and recognized as the sum insured upon death. Where the sum assured is defined as 125% of the sum insured or 10 times the annual premium insured. This benefit will not be deducted from 105% of all premiums paid as on the date of death.

Eligibility Conditions and Other Restriction

 a) Minimum Basic Sum Assured = Rs. 100,000
b) Maximum Basic Sum Assured = No Limit
 c) Minimum Age at entry for all times Assured = 18 years
 d) Maximum Age at entry for Life Assured = 65 years
 e) Minimum/ Maximum Maturity Age for = 75 years
f) Policy Term = (5 – 57) years
g) Modes of Premium:- Yearly, Half-Yearly, Quarterly, Monthly

Death and Maturity Benefits

Death Benefit:-In case of the policyholder is death
125% of the basic sum assured
10 time the annualized premium
105% of the entire premium paid till the insured event.
Maturity Benefit:- If the policyholder survives the whole policy term the sum assured is paid out because of the maturity benefit.

 5. LIC Jeevan Saral

This is an endowment assurance plan where the offeror has to choose the amount and mode of premium payment. The plan provides financial protection against death throughout the entire term of the plan. The death benefit is directly related to the premium paid. Maturity depends on the age of entry into the life assured, and the survival of the policy at the end of the policy. It also provides flexibility and a lot of liquidity to the condition.

Death Benefit

In case the policyholder is the death of the life insured the nominee received
Sum assured 250 time the monthly premium
Return of premiums excluding extra/rider premium and first-year premium
Loyalty addition if any
Maturity benefit:- On the maturity of the policy, the insurer will receive
Maturity sum assured(Depend on the age of entry and policy term)
Loyalty additions if any

Eligibility Conditions and Other Restriction

 a) Minimum Basic Sum Assured = Rs. 62,500
b) Maximum Basic Sum Assured = No Limit
 c) Minimum Age at entry for Life Assured = (12) years
 d) Maximum Age at entry for Life Assured = (60) years
 e) Minimum/ Maximum Maturity Age for = (70) years
f) Modes of Premium:- Yearly, Half-Yearly, Quarterly, Monthly
g)  Policy Term : [10 – 35] years
Tex Benefit:- Under section 80C/10(10D)


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