Best LIC Plan for 10 Years

Ten years is a sensible horizon for life insurance savings – long enough for the plan to build value, short enough to plan for a clear goal such as a child’s higher education, a house or the first years of retirement. When customers ask us for the “best LIC plan for 10 years”, they mean one of two things:

• Maturity in 10 years – a policy term of 10 years, or
• Premium for 10 years – pay for 10 years, even if the policy continues longer.

Below are the current LIC plans for each case. Plan facts come from LIC’s official sales brochures; always confirm with the latest brochure and your own benefit illustration.

Plans that can mature in 10 years

LIC Single Premium Endowment Plan

Pay once, choose a policy term from 10 to 25 years, and get the basic sum assured plus vested bonuses (and final additional bonus, if any) on maturity. Life cover runs for the full term. Entry age is from 30 days to 65 years and the minimum basic sum assured is ₹1 lakh. It suits anyone with a lump sum – a bonus, a matured FD or a property sale – who wants safe growth with life cover for 10 years.

LIC Nivesh Plus

A single premium ULIP: invest once (minimum ₹1,25,000), choose a policy term of 10 to 25 years, and your money is invested in the fund you choose. There is a 5-year lock-in, and LIC adds guaranteed additions to the fund at the end of the 6th and 10th years (and later years for longer terms). The maturity value is the fund value, so it depends on the market.

LIC Index Plus

A regular premium ULIP. A 10-year policy term is available when the yearly premium is ₹48,000 or more; below that the term starts at 15 years. Premiums are paid for the whole term, the lock-in is 5 years, and guaranteed additions are added to the fund at the end of the 6th and 10th policy years. Good for people who want disciplined, market-linked savings with life cover.

LIC New Tech-Term

If what you need for the next 10 years is protection – for example, while a home loan or business loan is running – New Tech-Term offers a policy term starting at 10 years, with a minimum basic sum assured of ₹50 lakh. There is no maturity amount, but the premium is the lowest for the cover you get.

Plans where you pay premium for 10 years

LIC Jeevan Labh

Jeevan Labh is a limited premium endowment plan. With the shortest option you pay for 10 years and the policy term is 16 years. The other options are a 21-year term (pay 15 years) and a 25-year term (pay 16 years). On maturity you get the basic sum assured plus bonuses. Entry age is from 8 years, up to 59 years for the 16-year term, and the minimum basic sum assured is ₹2 lakh.

LIC Jeevan Utsav

Choose a 10-year premium paying term and, after the waiting period, receive a guaranteed 10% of the basic sum assured every year for life. It is a whole-life plan, so there is no single maturity payout – instead it becomes a lifelong income. Try the Jeevan Utsav calculator.

Quick comparison

Which one should you choose?

• You have a lump sum and want safety: Single Premium Endowment Plan.
• You have a lump sum and accept market ups and downs: Nivesh Plus.
• You can save every year and want market growth: Index Plus.
• You want to finish paying in 10 years and get a lump sum later: Jeevan Labh.
• You want income for life after paying 10 years: Jeevan Utsav.
• Your family depends on your income: add New Tech-Term first, whatever else you choose.

For shorter horizons, read best LIC plan for 5 years, and for the full picture by age and goal see best LIC policy 2026. You can estimate maturity on the LIC maturity calculator, but the final figure always comes from LIC’s official illustration.

Buy with the LIC office, Manimajra

Vedpal Singh, Development Officer, LIC of India, and our team compare these plans for your age, send LIC’s official benefit illustration on WhatsApp and complete the process – at your doorstep in Chandigarh, Mohali, Panchkula and Zirakpur, and online for every other city. Visit the LIC office in Manimajra or find the LIC office near you.

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