Best LIC Plans to Invest in 2024

Best LIC Plans to Invest in 2024

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Best LIC Plans for Investment: An Overview

In India, many people may consider buying a life insurance policy an extra expense, as they are unaware of the fact that it can be the best asset to offer financial security to them and their families in times of urgent need. Additionally, life insurance can enhance your investment portfolio and offer tax benefits.

No doubt, whenever we talk about life insurance in India, the first name of the life insurance company that crosses our mind is Life Insurance Corporation of India (LIC of India). Among the various life insurance companies, LIC of India offers a wide range of life insurance products in different categories, including LIC term plan, LIC retirement plan, LIC ULIP plan, LIC money back plan, LIC endowment plan, LIC investment plan, LIC child plan, LIC pension plan, and many more to cover verified needs of every individual. These plans are flexible and customer-centric, offering a customisation facility to the customers.

Top LIC Investment Plan List 2024

LIC of India is a life insurance company that deals in a wide range of life insurance products. LIC investment plan is one of those categories. From the long list of LIC investment scheme available, comparing and choosing one plan can be quite tough for the customers. To make it easier, we have prepared a list of the best LIC plan for investment that offer comprehensive life cover to individuals and help save money and wealth creation.

LIC Policies Plan Type Sum Assured Entry Age Maximum Maturity Age Policy Term
LIC Jeevan Umang Plan Whole life insurance Rs. 2 Lakh - No limit 90 days - 55 years 100 years 100 years – entry age
LIC SIIP Plan Unit linked insurance 7 to 10 times the annual premium 90 days - 65 years 85 years 10 - 25 years
LIC New Jeevan Anand Plan Endowment plan Rs. 1 Lakh - No limit 18 years - 50 years 75 years 15 - 35 years
LIC New Pension Plus Endowment plan Rs. 1 Lakh - No limit 90 days - 60 years 75 years 15 - 20 years
LIC Tech Term Plan Term assurance plan Rs. 50 lakh - No limit 18 years - 65 years 80 years 10 - 40 years
LIC Jeevan Labh Endowment plan Rs. 2 lakh - No limit 16 years: 59 years 21 years: 54 years 25 years: 50 years 75 years 16/ 21/ 25 years
LIC Nivesh Plus ULIP plan Rs. 1 lakh - No limit 90 days - 70 years/ 35 years Option 1: 85 years Option 2: 50 years 10 - 25 years

* We do not endorse or rate any LIC life insurance plans. All the plans mentioned above represent regular LIC plans based on the information and benefits explained by LIC official sources.


LIC Jeevan Umang Plan

LIC Jeevan Umang is one of the best LIC investment plans that comes up with the benefit of life cover and limited premium paying terms. The policyholder receives the guaranteed annual survival benefits at the end of each premium till maturity. Additionally, a maturity benefit is provided in a lump sum amount. The details provide in the required field should be valid and correct. The date of birth should be in the right format of DD/MM/YYYY.

Highlights of LIC Jeevan Umang Plan

  • 100% tax-free maturity
  • Simple reversionary and final additional bonus
  • Life cover of 7 times of annualised premium
  • Annual survival benefit of 8% of basic sum assured


LIC SIIP is a regular premium paying individual life insurance plan that helps the policyholder grow a good corpus through market-linked returns. This way, the policyholders can help their families be financially secure in their absence.

Highlights of LIC SIIP Plan

  • 4 fund options and switching allowed
  • Tax benefits
  • Death benefits of 105% of total premium paid
  • Guaranteed additions

LIC New Jeevan Anand Plan

LIC New Jeevan Anand is a complete endowment cum whole life insurance policy with a bonus facility. The plan provides life cover to protect the policyholder's family financially. Additionally, the plan provides the dual benefit of saving. The policy is the highest selling LIC insurance policy.

Highlights of LIC New Jeevan Anand Plan

  • Receive death benefit in instalments
  • Avail of loan facility
  • Premium payment discounts
  • Enhanced protection with riders

LIC New Pension Plus

LIC New Pension plus plan backs the policyholder in building a corpus through systematic and disciplined savings. The savings can help accumulate a regular flow of income during post-retirement. The LIC investment plan offers multiple benefits and guaranteed additions that help maximise the overall benefits.

Highlights of LIC New Pension Plus

  • Assured death benefit of 105% of total premiums paid
  • Option to choose from 4 fund options
  • Tax benefits on premium paid and benefits received
  • Market-linked returns

LIC Tech Term Plan

LIC Tech Term plan is a non-linked and pure protection life insurance plan that provides investment benefits to the policyholder. The policyholder can choose the benefit options from the level sum assured to the increasing sum assured.

Highlights of LIC Tech Term Plan

  • Available for direct online purchase
  • Compensation for women and non-smoker category
  • High sum assured
  • Annual premium payment

LIC Jeevan Labh Plan

LIC Jeevan Labh is the life assurance savings plan with investment benefits. Including that, the plan also offers participation bonuses. The life cover is assured, and the policyholder gets the maturity benefits.

Highlights of LIC Jeevan Labh

  • Death benefit of 105% of the total premium paid
  • Long-term investment
  • Facility to avail of loans
  • Enhance benefits with riders

LIC Nivesh Plus Plan

LIC Nivesh Plus plan is a unit-linked, single premium individual life insurance plan that offers life cover and investment benefits. The plan is subject to market risks that are borne by the life assured only. The charges are comparatively low, with good market returns. The plan is available for online and offline purchases.

Highlights of LIC Nivesh Plus Plan

  • Four fund types and switches
  • Partial withdrawals
  • Maturity benefit equal to Unit Fund Value
  • Good market returns

Why Consider LIC Investment Plans?

LIC Investment plan can be a big asset to reduce your financial burden in times of urgent need. But in the insurance market, where multiple life insurance companies offer various plans with enhanced benefits, choosing the investment plan from a trusted life insurance company becomes difficult for policy-seekers.

We have mentioned the best LIC investment plan for policyholders to help you secure assured benefits. But before purchasing one of the best LIC investment plan, you might have a question: 'Why should you invest in LIC investment scheme?' Here are the parameters that help clear your mind.


Company Background

LIC of India is the very first life insurance company working under the government of India. Since 1956, the company has been the first choice for Indians considering insurance purchases. Regarding customer experience, LIC of India will never disappoint you.



The main objective of buying a LIC investment plan is to gain assured benefits and good returns. This is possible when the company itself is credible. According to the IRDAI report, 2021-22, the LIC claim settlement ratio is 98.74%. Regarding financial stability, the LIC solvency ratio is 1.79, which ensures that the company is financially stable to bear its short and long-term liabilities.


Distribution Network

LIC of India has one of the largest distribution networks in PAN India. The company operates 2048 computerised branch offices and 1572 satellite offices, helping its customers reach faster and enhance their experience.



Customers require the best LIC investment plan that fits their needs without stretching their financial budget. Undoubtedly, LIC of India is serving its diversified customer base with LIC one-time investment plans and LIC monthly investment plan that perfectly complement their budget and that too within cost-effective premiums. Moreover, LIC of India has enabled 24*7 open customer support to help customers seek expert assistance.


Online Facilities

To offer maximum transparency and enhance policy management, LIC of India has launched LIC e-services, where customers can add their LIC policies, LIC premium payment, LIC policy status check, download LIC policy receipt, etc., for LIC investments in just a few clicks.


Variety of Products

An ideal life insurance company has a variety of life policies to offer its customers so they can compare and choose a suitable life plan. LIC of India offers the best LIC plans for investment with multiple benefits in the category of endowment plan, term plan, ULIP plan, child plan, pension plan, group plan, etc.


LIC of India offers various LIC best return plans that consider the purchasing needs of the customers and can be a good investment option. Depending on the availability of the plan, customers can buy it online or offline after considering their financial goals. For assistance, the policyholders can contact the LIC customer support or the nearest LIC branch.

Investment is a big decision for an individual life. In case you find it difficult to compare and choose an investment plan with maximum benefits, seek expert assistance from a LIC agent or life insurance agent. Make the journey of finding an agent nearby easier with RenewBuy Advisor Connect.