LIC Policies: Top 5 Insurance Plans for Farmers in 2021

Life Insurance Corporation of India (LIC), one of the most trusted insurance companies in the country has been offering different policies to its customers that includes the farming community as well. Moreover, 2020 has been a very challenging year for farmers and agriculture sector which witnessed lot of ups of down due to corona pandemic. Keeping in mind the contemporary situation, investing in LIC policies can be quite beneficial for farmers.

Moreover, investing in Life Insurance Corporation of India (LIC) is considered quite beneficial as it is a government-run company and you don't have to worry about your money by investing in the policy.

Let's know some very important and beneficial LIC policies and how it can help you to insure your life.

LIC Jeevan Akshay Policy

It is considered to be one of the most popular plans of the company. Moreover, it is the most preferred plan for such people who take pension. It is a single premium non-linked, non-participating and personal annuity scheme. This policy has started from August 25, 2020.

Moreover, this pension is being given to the policyholder for life and you can earn a good amount of money every month after retirement. The company has started this special plan for customers where you can earn good amount of money by just investing only once.

This policy has a minimum investment of Rs 1 lakh while there is no maximum limit. Along with this, there is a condition of minimum pension of Rs 12 thousand per annum while there is no maximum limit. However it depends on the total investment of a policyholder. The loan facility is also available through 3 months from the date of issue of the policy. Any two members of a family can take a joint annuity.

LIC Kanyadan Policy

It is the dream of every parent to give good education to their daughter and then marry her with great pomp and show. But, it’s not possible for everyone to fulfill this dream as it requires years of savings. And if you also are worried about your daughter’s bright future, then stop worrying, because today we are going to give information about a special policy of LIC. It is LIC Kanyadan Policy. As the name suggests, this policy is specifically for the marriage of daughters.

How to Take the Advantage of This Policy?

You just need to go to the nearest LIC Office or LIC Agent and tell that you want to invest in LIC Kanyadan Policy. After getting all the knowledge about terms and conditions, you can invest in LIC Kanyadan Policy.

LIC Jeevan Shanti Policy:

Under Jeevan Shanti Plan, it will be necessary to invest at least 1.5 lakh rupees. There is no limit on the maximum amount. You can deposit 5 lakhs or 10 lakhs or even more as per your convenience.

In this plan of LIC, you have to invest only once and your guaranteed income will continue throughout your life. You can also take the policy jointly with your parents or siblings. Apart from this, customers can select annuity options according to their needs and circumstances. This is a single premium plan, where once you invest, you will start getting pension, which will get life.

LIC’s Micro Bachat

LIC’s Micro Bachat is a regular premium, non-linked, participating endowment plan that offers a combination of protection and savings. The new plan is mainly targeted at low-income group individuals as well as families. For instance, to obtain a cover of Rs 1 lakh, a 35-year-old will have to invest Rs 5,220 / annum.

A hale and hearty person in the age group of 18 to 55 can get this policy without going through any medical examination. The minimum & maximum sum assured under the Micro Bachat policy is between Rs 50,000 - Rs 2 lakh. The period of the policy is 10 to 15 years.

LIC Jeevan Benefit Policy

Life benefit policy can be taken only by people between the age of 8 to 59 years. The maturity age of this policy is 75 years. A policy term of 16 to 25 years can be taken. Moreover, at least two lakh rupees have to be taken as sum assured.

There is no maximum limit. Accidental death and disability compensation have been included in this policy. If you spend a premium of Rs 1,55,328 for 25 years i.e. Rs 518 per month ie Rs 17, then on maturity you will get around Rs 4.04 lakh with bonus.

LIC’s New Children Money Back Plan

Everyone wants a safe and secured future for their children. Hence, LIC also has one such scheme which is designed keeping in mind the needs and future of children. Let's know about this LIC policy in detail.

The minimum age for availing this insurance is 0 years. Maximum age of taking insurance is 12 years. Minimum Sum Assured Rs 1,00,00.No limit on maximum sum insured. The policy holder will get 20 percent of the sum assured at the age of 18, 20, and 22 years.

LIC Jeevan Anand Policy

Everyone wants to secure his or her life after retirement in a relaxed manner. Retirement plan is a must for every person who want to comfortably spend their life in their old age. Old age already invites many problems including physical to mental, but at least a proper retirement plan can keep you away from the financial stress and tension.

Here you can deposit Rs 80 per day and can get pension of Rs. 28,000. The minimum age to invest in this scheme should be 28 years. This policy offers you a return after a period of 25 years.