List of 6 Best LIC Policies for Women in India for 2022
There are a number of insurance companies functioning competitively in India. All these insurance companies are IRDAI approved. However, only very few companies have specialized insurance policies to empower and support women, and in this array, the LIC policy for women is the key highlight.
LIC is the most remarkable insurance company in India. Its reputation and recognition among people in India exhibit its performance and reliability.
Women empowerment in India has encouraged many women, including rural regions, to work and lead their lives with financial independence. Besides, they are also supporting their family members in many ways. In most families, women have become the primary bread earner of the family. In this aspect, life covers protecting their self-life and family members who are their dependents become essential. Besides, the best LIC policy for housewives is another highlight to encourage the savings of women and safeguard their lives. In this aspect, LIC introduced many new LIC policies for women. Here are a few remarkable best life insurance policies for a woman from LIC, India.
List of 6 Best LIC Plans for Women in India for 2022
- Jeevan Bharti
- LIC Aadhaar Shila
- LIC Cancer Cover Plan
- LIC e-Term Plan
- New Endowment Plus
- Jeevan Bharati-I
1. Jeevan Bharti
This insurance plan is only for women in India. This is a money-back policy with fixed terms of 15 or 20 years. For example, if a term of 15 years is chosen, then 20% of the sum assured is payable at the end of the 5th and 10year of the policy period. In contrast, the remaining 60% will be paid at the time of maturity, along with guaranteed additions and accrued bonuses.
By choosing the plan for 20 years, 20% sum assured is payable at the end of 5th and 15th year, and the remaining 60% is paid on 20th years along with bonuses and additional guaranteed payouts if any. This policy also comes with two in-built riders; however, an additional premium should be paid.
2. LIC Aadhaar Shila
This is another plan designed especially for women. This is an endowment plan. Women holding an Aadhar card become eligible for this plan. This plan features loyalty additions after completion of a 5 years term period. About 110% sum assured is paid in case of the policyholder’s demise during the plan period. There is also an optional accident benefit rider available with this plan, and this rider will pay an additional sum assured in case of accidental death during the term period. This plan also features premium discounts when the sum assured is over Rs.2 lakhs.
3. LIC Cancer Cover Plan
This is another best LIC policy for women. This plan benefits the policyholder, especially those with cancer and who seek a cancer insurance plan to meet their medical expenses. This plan features two coverage levels, such as increasing sum insured and level sum insured. The sum insured will increase by 10% from the basic sum insured for the first 5 years of taking the policy for the cancer diagnosis. This policy helps to cover both early and advanced-stage cancer treatments. For the early stage, about 25% of the sum insured is paid, and the future premiums are waived as the plan continues. In the case of significant stage cancer, the full sum insured is paid, and all premiums in the future are waived.
4. LIC e-Term Plan
You can buy the plan directly from LIC online under this LIC plan for women. This plan is a pure term policy, and the death benefit is paid during the plan tenure in case of the policyholder’s demise. The sum assured for this plan is a maximum of Rs. 50 lakhs and the policy coverage is up to 75 years.
5. New Endowment Plus
This is the best LIC policy for ladies if you are looking for a market-linked plan. This is a unit-linked plan that helps get market-linked returns. It also helps get insurance protection at the same time. Higher the sum assured or fund value is paid towards the death benefit to you. As an optional cover, the accidental death benefit is also paid towards the rider. This plan has an annual premium of Rs. 20,000. It features four funds for investment. You can avail of the maturity benefit over 5 years in instalments. There are also flexible switching options and partial withdrawals available for this plan.
6. Jeevan Bharati-I
This is another best LIC plan for women that comes with unique features. It has many benefits to offer for women. This is the most flexible plan that enables the policyholder to pay her premium in advance when required. However, it has only an annual premium payment option. Therefore, you might need to pay all the 3 instalments at once for the year. This policy also features a rebate when the premium is paid in advance. The policyholder is also flexible in choosing survival benefits anytime during the policy is in the act. Women between 18 and 55 years can choose this policy. The minimum sum insured is Rs. 50,000 and the maximum Rs. 25 lakhs. The policy also features riders like accident benefits, critical illness, and congenital disabilities.
Most of the plans for women from LIC have tax benefits to offer. These tax benefits can be availed to be used on their income tax payment. Compared to a general insurance plan, a specialized insurance plan for women has many highlights. These plans will also have fewer premium payment amounts compared to a regular one. Moreover, the LIC plan for women might have many additional features than what a standard policy has. Such unique features are really an encouragement for women. These policies will boost the confidence level of women.
You can find more details of various other LIC plans for women online. These sources will also help you to quickly compare the policy features, premium payable, and other benefits. Thus you can quickly identify the right LIC plan for women that well-suit your expectations and requirements.
Best LIC Plans for Women FAQs
Which LIC policy is best for females?
Any LIC policy that offers maximum financial aid to a woman and is available at quite an affordable premium rate is considered to be the best LIC policy for females. Following is the list of best LIC policies for females:
1. LIC Aadhaar Shila
2. LIC New Jeevan Anand Plan
3. LIC e-Term Plan
4. LIC Jeevan Pragati Plan
5. LIC Jeevan Lakshya Plan
Which LIC plan gives maximum returns in 2022?
Although, all LIC plans offer great returns, the following policies by LIC will give you maximum returns in 2022:
1. Jeevan Amar Plan
2. New Endowment Plan
3. New Money Back Plan – 20 Years
4. New Jeevan Anand Plan
5. New Children’s Money Back Plan
Which are the most affordable LIC policies available for Women?
The most affordable LIC policies available for women are:
1. LIC Jeevan Amar Plan – The cheapest plan for women with flexible and wider features
2. LIC e-Term Plan – Offers affordable premium rates and special premium rates for non-smoker women
3. LIC Jeevan Pragati Plan ¬– 10 times higher annual premium as a death benefit
4. LIC Jeevan Lakshya Plan – Offers maturity benefits at the end of the policy tenure and easy premium payment options
5. LIC New Jeevan Anand Plan – Offers profits by earning bonuses and a lump sum death benefit
What are the top benefits of Buying LIC Plan for Women?
Some of the top benefits of buying a LIC plan for women are:
• Financial Protection
• Affordable Premium Rates
• Flexible Features
• Disability Benefit Rider
• Death Benefit Rider
• Tax Benefits
What is LIC Aadhaar Shila Policy?
LIC Aadhaar Shila Policy is an especially designed endowment plan for women. Some of its main features are:
• Loyalty Additions after 5 Years Policy Tenure
• Women with Aadhar Card are eligible
• Optional Accident Benefit Rider
• Premium Discounts for Sum Assured of Over Rs. 2 lakhs
• 110% of Sum Assured is paid in case of policyholder’s demise during the policy tenure
How can a woman buy a LIC policy online?
Yes, a woman can easily buy a LIC policy online by using the LIC’s e-Services within a few clicks. For this you need to:
1. Visit the official website of LIC
2. Click on the “New User” Tab
3. Select your User ID and Password
4. Provide all the required information and get registered as a Portal User
5. Choose a Policy and check its premium rates and other features
6. Follow the steps directed on the website to buy it online
What are the different types of policies offered by LIC for Women?
LIC or the Life Insurance Cooperation of India offers the following types of LIC policies for women:
1. Jeevan Bharti
2. Jeevan Bharti-I
3. LIC Aadhar Shila
4. LIC Cancer Cover Plan
5. LIC e-Term Plan
6. New Endowment Plus