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India’s largest government-backed life insurance company offering term, savings, pension, ULIP, and child plans.
Life Insurance Corporation of India (LIC) is the largest life insurer in India with a strong claim settlement record, extensive branch network, and a wide range of life insurance products designed for protection, savings, retirement, and wealth creation.
11 plans available — compare coverage, premium, and key features.
Maturity benefit with continued life cover after the policy term, subject to policy terms
Key Features
Step-by-step claim process for LIC.
The nominee or claimant should intimate the servicing branch about the death, or call the 24x7 LIC call centre at +91-022-6827-6827.
Submit Claim Form A (or Form 3783A if the policy has run 3+ years), a certified extract from the death register, and the original policy document.
For early claims (death within 3 years of risk commencement), additional forms like the medical attendant's certificate are required; LIC verifies all documents at the branch level.
After successful verification, the death claim amount is transferred to the nominee's bank account, generally within 30 days of receiving complete documents.
LIC is ideal for customers seeking long-term financial protection and the trust of a government-backed insurer.
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LIC is India's largest government-owned life insurance company offering term, savings, pension, and investment-linked insurance plans.
Yes, LIC consistently maintains one of the highest claim settlement ratios among Indian life insurers.
Yes, many LIC plans can be purchased and managed online through the official website.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official LIC website before purchasing.
Participating, non-linked savings plan with limited premium payment and potential bonuses
Key Features
Whole life plan that pays 10% of the Basic Sum Assured every year as guaranteed income, plus Guaranteed Additions during the premium paying term.
Key Features
Endowment plan that pays 10% of the Basic Sum Assured every year to your family if you die, plus 110% of it at maturity, and the Basic Sum Assured with bonuses if you survive.
Key Features
Whole life plan that pays 8% of the Basic Sum Assured every year after the premium paying term, with life cover up to age 100 and bonuses on top.
Key Features
Participating endowment plan that pays the Basic Sum Assured plus bonuses at maturity, with life cover throughout the 12 to 35 year term.
Key Features
20-year plan that pays 20% of the Basic Sum Assured at the end of years 5, 10 and 15, plus 40% and bonuses at maturity, with life cover throughout.
Key Features
Money back plan that pays 15% of the Basic Sum Assured every 5 years, 40% plus bonuses at maturity, and keeps the full death cover throughout.
Key Features
Limited-pay money back plan for HNIs with Guaranteed Additions of ₹50 to ₹55 per ₹1,000, two survival payouts of 30% to 45% of the Basic Sum Assured, and loyalty additions.
Key Features
Child plan with four survival benefit options: no payouts, or 5%, 10% or 15% of the Basic Sum Assured each year from age 20 to 24, with the balance at age 25.
Key Features
Child-focused savings plan with guaranteed additions of ₹80 per ₹1,000 Basic Sum Assured each policy year.
Key Features
Yes, LIC offers loans against eligible policies once they acquire sufficient surrender value, typically after a few years of premium payment.
Lapsed policies can usually be revived within a specified period by paying outstanding premiums along with interest, subject to insurer approval.