Comparison between REGULAR PLAN of LIC.

Poster for Regular Premium Plan of LIC of India

Regular plan is a type of plan in which customer need to pay their premium on regular interval i.e. Yearly, Half Yearly, Quarterly or Monthly up-to maturity. Under this category there are six plan of LIC i.e. New Endowment, Jeevan Anand, Jeevan Rakshak, Jeevan Lakshya, Aadhaar Stambh and Aadhaar Shila. LIC plans are known by their table number and plan name. Every plan have different age limits which describe who can be insured under this plan. Term describe the year of the plan for which you can be insured. Premium is the amount which you need to pay on regular interval. Total premium is the amount which have invested in LIC during your policy term i.e. sum of the premium paid. Maturity is the amount which you will get at the end of policy term. Profit ratio is the ratio of maturity and total premium. A comparison between these regular plan of LIC for age-18, term-20 and sum assured-1,00,000 has been given in figure-1.

Figure.1 - Comparison between REGULAR PLAN of LIC for Age-18, Term-20 and Sum Assured-100000.

For same insurance, in premium point of view, Jeevan Rakshak have lowest premium while Jeevan Laksya have highest premium. In investment point of view, Jeevan Rakshak is the cheapest policy while Jeevan Anand is the costlier policy. In maturity point of view, Jeevan Rakshak, Aadhaar stambh and Aadhaar Shila are giving same and lowest amount of maturity while Jeevan Anand and Jeevan Lakshya are giving highest maturity. In profit ratio point of view, Aadhaar Stambh and Aadhaar Shila has lowest profit ratio while Jeevan Lakshya have highest porfit ratio.

Note: These type of plans are suitable for those who wants to pay less premium for same insurance along with savings.