Women are the pillars of our society. No matter if it is corporate sectors, household management, politics, journalism or any art field like painting or dance and tough fields which were earlier thought to be male-dominated like wrestling or sports are all ruled the and participated by women. When women are managing every aspect of the society, then they also deserve a strong protective cover for themselves. If you are the one who has Responsibility for Financial planning then you need to secure yourself first. If you own a life insurance plan, then it will ensure your security in a systematic way against an unforeseen financial uncertainty. Financial planning is very important for a woman as a woman can foresee the danger beforehand. LIC India is a government-owned enterprise and a trusted name in the field of life insurance brand. Even, in case of any failure of the LIC policy, the Indian government is the guarantor. It has many policies specifically designed for the benefit and requirement for women. Money stability is a very important factor for woman empowerment. And what can be better than a perfect insurance plan for money management and life security?
So let’s have a look at the Following life insurance plans that are offered by LIC, a well known and trusted name in the insurance sector with features and benefit that suits women –
LIC’s e-Term policy is a complete life cover policy that provides a complete financial protection to the insured’s family in case of any unfortunate or any unforeseen event. This term insurance plan will be available through the online application process only and no agents are required.
- Minimum Basic Sum Assured should be Rs. 25,00,000 for the Aggregate category, but if the customer is a non-smoker then he/she is benefited in a form of double amount of sum assured in the plan that is Rs. 50,00,000/-.
- The premium amount of the policy can be paid annually and the amount of premium is also very low.
- This plan can be purchased easily online and the revival period for the policy is 2 years in case the customer missed any premium payments.
- The plan offers a grace period of 30 days for the payment of the premium amount.
- However, one need to keep one necessary thing in mind and that is, as it is a term plan so there is no maturity benefit of the LIC e-term plan.
- The policyholder can enhance the policy cover from Rs.1 Lakh to Rs.25 Lakhs.
New Jeevan Anand Plan
- Jeevan Anand is one of the best LIC plans that is launched keeping in mind the need and requirement of women in the year 2018.
- LIC’s New Jeevan Anand Plan is a participating non-linked plan which offers an attractive combination of protection and savings
- New Jeevan Anand Plan is a plan that consists of protection and savings offers that are in favour of the woman.
- The customer can enjoy the lump sum payment at the end of the policy term period.
- This policy provides a good sum of financial protection against the death of the policyholder.
- The best feature of the policy is that even when the maturity is paid and the policyholder is surviving then the insurance coverage continues with the payment of premium amounts. This plan is ideal for women who are never off their responsibilities in life as it also continues its responsibility, even after the maturity period of the plan.
- The policy can be surrendered, provided when at least three full years’ premiums have been paid by the customer.
- One can even insure with the add-on riders as per the policy choice. Rider’s offers are as follows –
- LIC’s accidental death benefit or disability benefit.
- LIC’s New Term Assurance Rider
- The facility of loan can be availed by the customer under the New Jeevan Anand policy after payment of premiums for at least 3 full years.
Hence this plan is enjoyed by most of the women and it will the best plan for women in the year 2018
LIC Jeevan Bharathi – I Plan
- This life insurance policy is also designed only for women.
- LIC Jeevan Bharathi –It is a money back plan, hence there is security and surety to the customer that she will get a percentage of the sum that is assured at a regular interval of time rather than in a form of lump sum payment in the end of the year. This is a very important feature as a continuous flow of money is very important in order to continue livelihood.
- If you have a good knowledge about the money invested, then you can use the maturity amount of this money back plan to purchase an annuity. One even enjoys the flexibility of paying the premium amount in advance only.
- Customer needs to pay a premium amount for the complete tenure of the desired plan of 15-20 YEARS.
- The customer enjoys the benefit of the survival benefit of 20% of the sum that is assured to be paid by LIC for every 5 policy years.
- When the tenure of the policy ends, a maturity benefit is paid in the form of remaining sum that is assured along with the accrued bonus of the plan to the customer and one can even secure 3 additional riders as an add-on benefit as follows-
- Critical Illness rider
- Accident Benefit rider
- Congenital Disabilities benefit rider
All of the above 3 riders are very important for women as it covers disease like cancer, common female disease, childbirth and etc
- This is a play that suits most women. It is one of the best LIC plans for women in the year 2018.
- Jeevan Anand is a non-unit linked plan and it offers the combination of savings and protection to a woman.
- In case of death of the policyholder, this plan offers an annual income to the family which is very important. And if the policyholder survives at the maturity of the plan that it will provide a survival benefit during maturity.
- Jeevan Lakshay is a conventional LIC plan, hence it has a restricted premium payment option and even the premium term of the policy is 3 years less than the policy term.
- One can make the premium payment flexibility as annually, semi-annually quarterly or monthly as per the convenience.
- Maturity policy amount is free from any tax under the section 10D of the Indian Tax Act and the premium amount payable to the policyholder is also exempted under section 80 C.
- Jeevan Lakshay offer two optional riders and they are –
- LIC Disability and Accidental Death,
- LIC Assurance rider for the New Term
Hence, this plan suits mostly all women. One can even earn benefits through bonuses under this plan
Health is a very important factor in a woman’s life and the Health Plus is the first step of LIC India in the field of Health Insurance. No doubt, investing in health needs all your wit and understanding. Health Plus will serve your motive of health safety in every possible way.
- Health Plus plan is a unique long-term health insurance plan that combines the health insurance covers of the entire family – wife, husband and the children.
- This plan offer benefits like hospital cash benefit and major surgical benefit along with the ULIP component that helps to meet the domiciliary treatment-related expenses of the customer and other insured members of the family.
- Premium amount can be paid by mode if ESC is only at yearly, half-yearly or monthly basis.
- Health Plus allows the increase or decrease in premiums during the term of the policy. Increase in premium must be in multiples of Rs.500 and in case of a decrease, the minimum premium conditions must be satisfied. However, increase or decrease in premiums does not affect the level of health cover and Hospital Cash Benefit and Major surgical benefits.
- No death insurance cover is available under the plan. In case of death of the policyholder, the fund value of units held in the policy fund is payable to the nominee or legal heir(s) of the principal insured
- Any medical condition or any related condition that is pre-existing in the policyholder is excluded from Health Plus. Example any illnesses, symptoms, treatments, pains, and surgery that have arisen at some point prior to the commencement of this coverage, irrespective of whether any medical treatment or advice was sought. Any such condition or related condition about which the PI or insured dependant know, knew or could reasonably have been assumed to have known, will be deemed to be pre-existing.
These are the best 5 plans from LIC for women. So, one can choose any of these and have a secure year ahead.
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