Best LIC Policy 2026
Which LIC plan is right for you – by goal, age and budget. Simple guidance from the LIC office, Manimajra.
“Which is the best LIC policy?” is the question we hear most at the LIC office. The honest answer is: the best LIC policy is the one that matches your goal, your age and your budget. A plan that is perfect for a retired teacher is wrong for a 28-year-old with a home loan. This guide groups LIC’s current plans by what you want to achieve, so you can shortlist 2–3 options in a few minutes.
All plans below are current LIC plans for 2026. Plans that LIC has withdrawn are not included – see LIC new plans 2026 for what is new and what has been withdrawn.
Best LIC policy by goal
| Your goal | Plan type | Best LIC plans | Why |
|---|---|---|---|
| Protect your family | Term insurance | LIC New Tech-Term LIC Yuva Term & Digi Term LIC Jeevan Raksha | Biggest cover for the lowest premium. Every earning member should have one first. |
| Safe savings + life cover | Endowment / savings | LIC New Jeevan Anand LIC Jeevan Labh LIC Bima Platinum | Lump sum on maturity with life cover throughout; good for fixed goals. |
| Yearly income for life | Whole life / income | LIC Jeevan Umang LIC Jeevan Utsav | Pay premiums for a limited period, then receive a yearly income. |
| Child’s education & marriage | Child plans | LIC Amritbaal LIC New Children’s Money Back Plan LIC Jeevan Tarun | Money at the right ages – 18, 20, 22, 25 – for college and career. |
| Money every few years | Money back | LIC New Money Back Plan (20 & 25 Years) LIC Bima Shree | Part of the sum assured comes back at set intervals while cover continues. |
| Pension after retirement | Pension / annuity | LIC New Jeevan Shanti LIC Jeevan Akshay VII LIC Smart Pension | Turn savings into a lifelong pension, immediate or deferred. |
| Market-linked growth | ULIP | LIC Index Plus LIC Nivesh Plus | Life cover with market-linked funds; 5-year lock-in. |
Best LIC policy by age
In your 20s
Start with a term plan while premiums are lowest – LIC New Tech-Term (online) or LIC Yuva Term & Digi Term. If you want to start saving, a small LIC Jeevan Labh or LIC Bima Platinum builds discipline with life cover.
In your 30s
This is when home loans and children arrive. Keep term cover of 10–15 times your income, and add a child plan such as LIC Amritbaal or LIC New Children’s Money Back Plan for education. LIC New Jeevan Anand suits people who want savings plus lifelong cover.
In your 40s
Focus on building a retirement income. LIC Jeevan Umang and LIC Jeevan Utsav give a yearly income after the premium paying term. Review your term cover so that outstanding loans are fully covered.
50 and above
Secure a regular pension: LIC New Jeevan Shanti (invest once now, guaranteed pension later) or LIC Jeevan Akshay VII (immediate annuity from a lump sum). A LIC Single Premium Endowment Plan can be used to park a lump sum safely with cover.
Best LIC plan for 5 years or 10 years
Most LIC savings plans run for 12 years or more, because life insurance savings work best over the long term. If your goal is 5–10 years away, look at plans with a short premium paying term, a ULIP (5-year lock-in) for market-linked growth, or a guaranteed plan where the benefit is fixed. We show you the exact maturity for your chosen term before you buy. Use the LIC maturity calculator and the LIC SIP calculator to compare.
How to choose – 5 simple questions
- Is my family protected? If not, a term plan comes first. Use the life cover calculator.
- What is the money for? Child’s education, marriage, retirement income or a lump sum.
- When do I need it? The year decides the policy term.
- How much can I pay every month? Choose a premium you can continue comfortably for the whole paying term.
- Guaranteed or bonus? Guaranteed plans fix the benefit; bonus plans may give more but are not fixed.
Why buy through the LIC office, Manimajra?
- Free comparison of 2–3 plans with LIC’s official benefit illustration
- Doorstep service in Chandigarh, Mohali, Panchkula and Zirakpur; online for other cities and NRIs
- Help for life – premium reminders, loans, revival, nominee change and claims
FAQs
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Which LIC policy is best for me?
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