10 life insurance schemes from LIC that will help you save money

LIC (Life Insurance Corporation of India) is the largest insurance company in India, and it offers a variety of insurance plans to cater to the diverse needs of its customers. As we head into 2023, LIC is expected to continue offering its existing insurance plans and possibly introduce new plans that align with the changing needs of its customers. Let's take a look at some of the popular LIC schemes that customers can consider in 2023:

1. LIC Jeevan Labh Plan: This is a non-linked, limited premium payment endowment plan that provides a combination of savings and protection. The policyholder receives a lump sum payment at the end of the policy term along with bonuses, if any, and a life cover throughout the policy term.

2. LIC Jeevan Anand Plan: This is a participating, non-linked endowment plan that provides a combination of savings and protection. The policyholder receives a lump sum payment at the end of the policy term along with bonuses, if any, and a life cover throughout the policy term. Additionally, this plan provides an extended cover for the policyholder's entire lifetime.

3. LIC New Endowment Plan: This is a non-linked, participating endowment plan that provides a combination of savings and protection. The policyholder receives a lump sum payment at the end of the policy term along with bonuses, if any, and a life cover throughout the policy term.

4. LIC Jeevan Umang Plan: This is a non-linked, participating whole life plan that provides a combination of savings and protection. The policyholder receives a lump sum payment at the end of the policy term along with bonuses, if any, and a life cover throughout the policy term. Additionally, this plan provides an annual survival benefit payment to the policyholder for the entire duration of the policy.

5. LIC Jeevan Akshay VI Plan: This is an immediate annuity plan that provides a regular income stream to the policyholder for the rest of their life. The policyholder can choose from various annuity options such as a life annuity, joint life annuity, etc.

6. LIC Single Premium Endowment Plan: This is a non-linked, participating endowment plan that requires a one-time premium payment. The policyholder receives a lump sum payment at the end of the policy term along with bonuses, if any, and a life cover throughout the policy term.

7. LIC Jeevan Tarun Plan: This is a non-linked, participating limited premium payment endowment plan that is designed to provide financial support for a child's education and other needs. The policyholder can choose to receive money back at various stages of the child's life, and the policy provides a life cover throughout the policy term.

8. LIC Jeevan Nidhi Plan: This is a non-linked, participating pension plan that provides a regular income stream to the policyholder during their retirement years. The policyholder can choose from various annuity options such as a life annuity, joint life annuity, etc.

9. LIC Bima Bachat Plan: This is a non-linked, participating single premium endowment plan that provides a combination of savings and protection. The policyholder receives a lump sum payment at the end of the policy term along with bonuses, if any, and a life cover throughout the policy term.

10. LIC Jeevan Shanti Plan: This is an immediate annuity plan that provides a regular income stream to the policyholder for the rest of their life. The policyholder can choose from various annuity options such as a life annuity, joint life annuity, etc.

These are some of the popular LIC schemes that customers can consider