LIC Plans for 5 years are designed for those individual who wish to secure the future of their loved ones without paying heavy premiums. These plans come with a policy term of 5-years and offers short term protection.
Life Insurance Corporation or LIC offers a host of insurance plans to customers. These plans are segregated based on their most prominent feature. For example, LIC of India offers health insurance plans, retirement plans, life insurance plans, child plans etc. The basic idea behind giving customers the flexibility to choose their policy period is to help them make decisions based on their financial goals and capacity.
LIC 5 Year Plans
Here is a list of LIC 5-year policies that come with different options and benefits as per the requirement of the policyholder.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
LIC Term Assurance Plans
LIC Term Assurance Plan is a life insurance protection plan which provides financial protection to the family of the insured at an affordable premium rate. Under this plan, a death benefit is offered to the beneficiary of the policy, in the event of the unfortunate death of the insured person during the tenure of the policy. As a pure term protection plan there is no maturity benefit offered by the policy.
LIC Term Assurance offers the following plan that start from the policy tenure of 5 years.
|Sum Assured Amount||Rs.5,00,000||Rs.25,00,000|
|Entry Age||18 years||65 years|
|Maturity Age||–||70 years|
|Policy Tenure||5 years||40 years|
LIC Dhan Sanchay Plan
|Entry Age||3 years||65 years|
|Single premium||Rs.2 lakh||No limit|
|Policy term||5 years, 10 years, or 15 years|
|Sum Assured on Death||Single Premium Level Income Benefit – Rs. 2.5 Lakhs
Single Premium enhanced cover with Level Income Benefit – Rs. 22 Lakhs