Best LIC's Insurance Plans 2021 To Invest
Join Telegram channel
As individuals it is inherent to differ. Each individual's insurance needs and requirements are different from that of the others. LIC's Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement.
presenting the Budget 2021-22, finance minister Nirmala Sitharaman had proposed to amend the Insurance Act, 1938, to increase the FDI limit in insurance companies and “allow foreign ownership and control with safeguards”.
The Cabinet on Wednesday cleared amendments to the Insurance Act to pave the way for raising the foreign direct investment (FDI) limit up to 74% from 49%, as proposed in the Budget for FY22. The amendments will have to be ratified by Parliament to take effect.
Endowment Plan
| Sr. No. | Product Name | Plan No. | UIN No. |
| 1 | LIC's Bima Jyoti | 860 | 512N339V01 |
| 2 | Lic's New Endowment Plan | 914 | 512N277V02 |
| 3 | Lic's New Jeevan Anand | 915 | 512N279V02 |
| 4 | Lic's New Bima Bachat | 916 | 512N284V02 |
| 5 | Lic's Single Premium Endowment Plan | 917 | 512N283V02 |
| 6 | LIC's Jeevan Lakshya | 933 | 512N297V02 |
| 7 | Lic's Jeevan Labh | 936 | 512N304V02 |
| 8 | LIC's Aadhaar Stambh | 943 | 512N310V02 |
| 9 | LIC's Aadhaar Shila | 944 | 512N309V02 |
Whole Life Plans
| Sr. No. | Product Name | Plan No. | UIN No. |
| 1 | LICs Jeevan Umang | 945 | 512N312V02 |
Money Back Plans
| Sr. No. | Product Name | Plan No. | UIN No. |
| 1 | LIC's NEW MONEY BACK PLAN - 20 YEARS | 920 | 512N280V02 |
| 2 | LIC’s NEW MONEY BACK PLAN - 25 YEARS | 921 | 512N278V02 |
| 3 | LICs Jeevan Umang | 945 | 512N312V02 |
| 4 | LIC's NEW CHILDREN'S MONEY BACK PLAN | 932 | 512N296V02 |
| 5 | LIC's Jeevan Tarun | 934 | 512N299V02 |
| 6 | LIC's Jeevan Shiromani | 947 | 512N315V02 |
| 7 | LIC's Bima Shree | 948 | 512N316V02 |
Term Assurance Plans
| Sr. No. | Product Name | Plan No. | UIN No. |
| 1 | LIC's TECH TERM | 854 | 512N333V01 |
| 2 | LIC's Jeevan Amar | 855 | 512N332V01 |
RIDER
| Sr. No. | Product Name | Plan No. | UIN No. |
| 1 | LIC's Linked Accidental Death Benefit Rider  | - | 512A211V02 |
| 2 | LIC's Accidental Death and Disability Benefit Rider | - | 512B209V02 |
| 3 | LIC's Accident Benefit Rider | - | 512B203V03 |
| 4 | LIC's Premium Waiver Benefit Rider | - | 512B204V03 |
| 5 | LIC’s New Critical Illness Benefit Rider | - | 512A212V02 |
| 6 | LIC's NEW TERM ASSURANCE RIDER | - | 512B210V01 |
It also approved the Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN) as a single non-lapsable reserve fund created from the share of health in the health and education cess proceeds. This fund will be utilised for the health ministry's flagship schemes, including Ayushman Bharat, National Health Mission and Pradhan Mantri Swasthya Suraksha Yojana.
The proposal to hike the FDI limit in insurance is expected to open up new avenues of funding at a time when some players are struggling with solvency issues. The move, along with the decision to launch the IPO of LIC and privatise one of the government-owned general insurers, would bring more efficiency to the market, analysts say.
0 Comments