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General Questions

Life Insurance is a financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household. Though human life cannot be valued, a monetary sum could be determined based on the loss of income in future years. Hence, in life insurance, the Sum Assured (or the amount guaranteed to be paid in the event of a loss) is by way of a 'benefit'. Life Insurance products provide a definite amount of money in case the life insured dies during the term of the policy or becomes disabled on account of an accident.

  •  To ensure that your immediate family has some financial support in the event of your demise
  •  To finance your children's education and other needs
  •  To have a savings plan for the future so that you have a constant source of income after retirement
  •  To ensure that you have extra income when your earnings are reduced due to serious illness or accident
  •  To provide for other financial contingencies and life style requirements

Primarily, anyone who has a family to support and is an income earner needs Life Insurance. In view of the economic value of their contribution to the family, housewives too need life insurance cover.

The amount of Life Insurance coverage you need will depend on many factors such as:

  •  The number of dependents you have
  •  What kind of lifestyle you want to provide for your family in your absence
  •  The amount you need for your children's education
  •  Your investment needs

Client Query

Life insurance policies can be broadly classified into three categories, such as

  1. Pure insurance plans
  2. Traditional polices (endowment, money back, whole life insurance plans),
  3. Pension plans and unit linked plans.

Technical Questions

Insurance Policies can be taken as a form of Investment .

Apart from risk cover life insurance also offers the benefit of regular savings. Whole life plans, Unit Linked Insurance Plans (ULIP), endowment or money-back policies etc offer a mix of life cover and savings.

In a whole life plan the policy holder is covered till death or on reaching 100 years of age. If the insured individual lives beyond the age of 100, he/she receives a maturity benefit and in the case of any unfortunate event, his/her nominees receive the death benefit.

A whole life insurance policy also accumulates a cash value that's accumulated throughout the life of the policy.

Life insurance provides you with that unique sense of security that no other form of investment provides. By buying life insurance, you buy peace of mind and are prepared to face any financial demand that would hit the family in case of an untimely demise.

It can also help your family to enjoy their current lifestyle in your absence without compromising on their dreams

Life insurance can be a valuable tool in tax planning. Apart from helping you save tax on insurance premium paid by you up to the extent of 1.5 lakhs yearly, it also offers tax free maturity in most insurance policies.



Life insurance can be a valuable tool in tax planning. Apart from helping you save tax on insurance premium paid by you up to the extent of 1.5 lakhs yearly, it also offers tax free maturity in most insurance policies.

Pre Approved Loan facility is also available in most of the Insurance Policies.



Life insurance is a long term investment. So over a long period of time you can accumulate a substantial amount along with the policy bonuses which can help you to supplement your income after retirement.



Knowledge Center - LIC Plans

Endowment plan is term insurance policy with maturity benefits. In case of demise of policyholder, the Sum Assured along with accrued bonuses (if any) is paid to the beneficiary. On survival of policyholder, the same is paid on the maturity date.

Endowment Plans

936 - Jeevan Labh (936)

914 - New Endowment Plan (914)

915 - New Jeevan Anand (915)

917 - Single Premium Endowment Plan (917)

944 - Aadhaar Shila (944)

Health plans from LIC give you the financial security to meet health related contingencies.


Health Care  Plans

904 - Jeevan Arogya

905 - Cancer Care Plan


Plan now for a great and independent retired life. Choose from Immediate and deferred annuity plans to suit your retirement needs.

Retirement  Plans

842 – Pradhan Mantri Vaya Vandana

850 - Jeevan Shanti



A bunch of perfect plans offered by LIC to meet the insurance needs and the period financial needs of an Individual. The plans provide cash inflow at a predefined intervals.

Money Back Plans

920 - New Money Back Plan 20 Years (920)

921 - New Money Back Plan 25 Years (921)

916 - Bima Bachat (916)

948 - Bima Shree (948)

947 - Jeevan Shiromani ( 947)

945 - Jeevan Umang (945)



Ulip plans are investment plans for those who realise the worth of hard-earned money. These plans help you see your savings yield rich benefits and help you save tax even if you don't have consistent income.

ULIP Plans

935 - New Endowment Plus (935)

852 - LIC SIIP

849 - LIC Nivesh Plus


Term Insurance Plans are specially designed to offer only Life Cover at a very low premium. There are short term plans, long term plans and convertible plans in this category.

Term Insurance Plans

855 – Jeevan Amar (855)

822 – Jeevan Anmol (822)


Children Plans from L.I.C. provide safeguard and planned savings for the future of your children with respect to funding their upbringing, education, career, marriage, etc. Numbers of options are available to satisfy and match your goals for your children.

Children Plans

932 - New Children Money Back Plan (932)

933 - Jeevan Lakshya (933)

934 - Jeevan Tarun (934)

943 - Aadhaar Stambh (943)

944 - Aadhaar Shila (944)