Best LIC Policy in India to Invest (2024 Guide)

Best LIC Policy in India – If you are to enjoy a happy and secure life, then you cannot underestimate the importance of life insurance. Most people consider life insurance as just another expense in their life, that they would do just fine without.  However, life insurance is not just an additional cost in a person’s life. Rather, it ensures the financial security of a person’s family and loved ones, in case of death.

Another best thing about LIC is getting a loan against it. Yes, you read it right, a LIC Policyholder can avail a Loan against LIC Policy. You can read more about getting a loan on LIC policy in my other guide.

In India, the most recommended life insurance company is the LIC (Life Insurance Corporation of India). The LIC is not just the most recommended, but also the best and largest insurance corporation in the country. LIC offers several best insurance policy products in India. This, at times, makes it hard for people seeking insurance to choose which LIC policy they should settle on. If you are the sort that can’t really figure out which policy you should go for, this article is just right for you. It discusses the 5 best LIC policies that you would do well to consider.

The Best LIC Policy in India

1. LIC Tech Term Plan

This LIC plan is relatively cheap and can be obtained even online, eliminating the need for an agent. The LIC Tech Term Plan includes two main options; increasing sum assured as well as of level sum assured.

This LIC policy is purely online. It has a sum assured of 50 Lakh, minimum. The benefits of death are usually obtained in installments of 5, 10, and 15 years. The insurance coverage goes up to 80 years. Furthermore, lower premium rates are charged for the female gender as well as the people who don’t smoke. Such aspects are what make it one of the best LIC policies.


  • The LIC plan list can be purchased online
  • Offers relatively low premium rate
  • A person has the option of selecting the sum assured.

2. LIC Jeevan Amar Plan

This LIC policy list was launched in 2019. A person can, however, purchase it only offline. It has both the level sum and increasing sum assured options. The LIC Jeevan Amar Plan is a pure term plan. 

For the death benefits, one can decide to obtain them in either installments or as a whole. It offers insurance services for a person up to the age of 80. This LIC plan list is ranked as one of the best LIC plans.


  • It offers low premium rates
  • The policyholders have the option of increasing sum assured
  • This LIC policy covers very high risks

3. LIC e-Term Plan

This is another pure term plan. It ensures the financial security of a family in the event of demise on the part of the policyholder. Being an online LIC plan lost, it requires no agent intermediaries for purchase purposes.

The LIC e-Term Plan offers low premium rates for the female gender and for those who don’t smoke. It also includes both a traditional and a non-participating plan. However, when upon its maturity, this best LIC plan offers no benefit whatsoever.


  • Has the option of sum assured, which benefits the nominees
  • A policyholder can choose a long tenure of 35 years
  • For those policyholders who hold the premium lists, they enjoy income tax benefits

The only negative thing about the LIC e-Term Plan is that the charges for the premium policy are higher than those charged by other policy lists available in the market. However, this plan list still remains one of the best LIC policy

4. LIC New Children’s Money Back Plan

This LIC policy list is mainly intended to benefit the growing children, upon an unfortunate occurrence befalling the parents or guardians. It helps in meeting the basic and educational needs of the young ones. It is non-linked and also offers coverage of risks to the insured children,  within the policy term duration.

The LIC New Children’s Money Back Plan has no specific set limits on the sum assured. It also offers a policy-holder with the benefit of qualifying for a loan after 3 years.


  • The LIC plan lost offers a death benefit
  • When a policy holder dies before the risk occurs, the premium charges are paid back
  • When a policy holder dies after the risk occurs, the sum assured, accrued bonus, and other additional bonuses are paid 
  • And when the insured young ones attain the age of 18, they are offered 20% of the sum assured as money back payment. This is done after every 2 years

The only negative thing about the LIC New Children’s Money Back Plan is that the money-back payment offered are too low, such that they cannot meet the children’s education requirements as well as marriage.

5. LIC New Jeevan Anand

The LIC New Jeevan Anand is to the older version, known as the LIC Jeevan Anand Policy. This policy plan is non-linked and a participating plan. It ensures the financial security coverage of the entire family.

This LIC plan lost has an advantage in that, for a policy holder of the LIC New Jeevan Anand, they qualify for a loan. A policy holder can also enjoy maximum benefits from premium rebates, as well as taxation benefits in cases where these apply. 


  • The LIC New Jeevan Anand offers death benefits to the policy holders. When an unfortunate occurrence befalls the policy holder, before the policy term has been completed, then the beneficiaries can benefit from the sum assured on death, the bonus of vested simple reversionary as well as other additional bonuses. 
  • There are also survival benefits associated with this LIC policy list. When the policy holder survives until the end of the agreed policy term, then they are repaid the basic sum assured, the bonus of vested simple reversionary as well as any other final additional bonuses.
  • Another advantage of this plan list is that a person can take this plan list alongside an accidental benefit disability ride.

The only main disadvantage of this best LIC policy is that it is quite difficult to pull out from this plan during the first year. Also, this plan lost offers relatively low returns of 4% – 6%.


Here it was the Best LIC Policy in India list. If you really care for your family and your loved ones, then hurry and get yourself one of the above best LIC policies. Doing so will help you to create a better and secure future for your legacy. And, what could be more important in life than ensuring a secure future for your loved ones?

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