Your Complete Guide to LIC, India's Most Trusted Insurer

LIC Insurance Made Simple. For Everyone.

From your first policy to your retirement pension. LIC plans explained and a comprehensive guide to every LIC product. Compare plans, calculate premiums, and find the perfect policy, and make confident decisions, for first-timers, families, NRIs, and agents.

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LIC Updates

New financial year started. Plan your full ₹1.5 lakh 80C investment now.LIC's 2025 valuation: higher bonus slabs for sum assured above ₹5 lakh. Jeevan Umang now ₹55 per ₹1,000.LIC launched the MyLIC app. Pay premiums, revive lapsed policies, and check status without visiting a branch.LIC announced its first-ever 1:1 bonus share issue in April 2026. India's largest insurer is stronger than ever.New LIC Jeevan Utsav (Single Premium). Pay once, get lifetime income with whole-life cover.LIC settled 98.15% of claims in FY 2024-25. Highest claim settlement ratio in India.LIC is the only government-backed life insurer in India. Sovereign guarantee on every policy.LIC New Tech Term. ₹1 crore family protection for less than ₹35 a day.Bima Lakshmi (Plan 881). India's first plan exclusively for women, with payouts every 2 years.Lock in lifetime pension rates with LIC Smart Pension. Single premium, guaranteed income.Build your child's future corpus with LIC Amritbaal. Pay for 7 years, secure 21 years.LIC Jeevan Anand. The only plan where life cover continues for free after maturity.Get a free LIC premium quote on WhatsApp in under 5 minutes.Not sure which LIC plan is right for you? Get a personalised recommendation in 60 seconds.New financial year started. Plan your full ₹1.5 lakh 80C investment now.LIC's 2025 valuation: higher bonus slabs for sum assured above ₹5 lakh. Jeevan Umang now ₹55 per ₹1,000.LIC launched the MyLIC app. Pay premiums, revive lapsed policies, and check status without visiting a branch.LIC announced its first-ever 1:1 bonus share issue in April 2026. India's largest insurer is stronger than ever.New LIC Jeevan Utsav (Single Premium). Pay once, get lifetime income with whole-life cover.LIC settled 98.15% of claims in FY 2024-25. Highest claim settlement ratio in India.LIC is the only government-backed life insurer in India. Sovereign guarantee on every policy.LIC New Tech Term. ₹1 crore family protection for less than ₹35 a day.Bima Lakshmi (Plan 881). India's first plan exclusively for women, with payouts every 2 years.Lock in lifetime pension rates with LIC Smart Pension. Single premium, guaranteed income.Build your child's future corpus with LIC Amritbaal. Pay for 7 years, secure 21 years.LIC Jeevan Anand. The only plan where life cover continues for free after maturity.Get a free LIC premium quote on WhatsApp in under 5 minutes.Not sure which LIC plan is right for you? Get a personalised recommendation in 60 seconds.

Why LIC?

98.62%

Claim Settlement Ratio

Highest in the industry

65+

Years of Trust

Serving India since 1956

29 Crore+

Active Policies

India's largest insurer

100%

Government Backed

Sovereign guarantee

Explore LIC Policy Categories

Every type of LIC plan, explained so anyone can understand. Click a category to see all available plans.

Term Insurance

Pure life protection at the lowest cost. Your family gets a lump sum if something happens to you during the policy term.

Endowment Plans

Protection + guaranteed savings. Get a lump sum on maturity AND life cover during the term. Best of both worlds.

Money Back Plans

Get money back at regular intervals during the policy term, plus full sum assured on maturity. Like a forced savings plan that pays you periodically.

Whole Life Plans

Coverage for your entire lifetime (up to 99 years). Ideal for leaving a legacy or lifelong protection with bonuses.

ULIP Plans

Insurance + market-linked investment. Part of your premium buys life cover, part is invested in equity/debt funds for potentially higher returns.

Pension Plans

Secure your retirement. Invest now, get a guaranteed income every month/year after retirement. Peace of mind for your golden years.

Child Plans

Secure your child's future education and milestones. Start early, let compounding work, and ensure funds are available when they need it most.

Micro Insurance

Affordable insurance for everyone. Low premiums, simple terms, designed for people with modest incomes. Protection should not be a luxury.

Why PolicyBros?

We built what we wished existed when we first tried to understand LIC insurance.

Simple Language

Every LIC policy explained in everyday words. No insurance jargon, no confusing terms. If you can read this, you can understand any policy.

Free Calculators

Calculate your premium, maturity amount, tax savings, and more. Get instant estimates before you commit to anything.

Honest Comparisons

Compare LIC policies side by side. See how LIC stacks up against HDFC Life, ICICI Pru, SBI Life, and others with real data.

NRI Services

Managing LIC from abroad? We guide NRIs through buying, renewing, reviving lapsed policies, and making claims.

Agent Tools

LIC agents get free access to a web-based CRM, proposal generator, commission tracker, and customer management portal.

Always Updated

New plans, premium changes, bonus announcements: we keep everything current so you always have the latest information.

Your LIC Policies, Finally Organized

Create a free account to track your policies, get reminders, and never miss a premium again. LIC agents get a full business management portal.

For Policyholders

Free forever

Track all your LIC policies in one dashboard
Never miss a premium with due date reminders
Get personalized plan recommendations based on your age and goals
See maturity dates, coverage gaps, and total premium at a glance

For LIC Agents

Free: your "All in One" on the web

Manage all your customers and their policies in one place
Generate proposals and PDF summaries instantly
Track customer premium due dates and never let a policy lapse
Calculate commissions and track your earnings

100% free. No credit card required. Your data is private and secure.

Why LIC Stands Apart

LIC vs Private Insurance: The Real Difference

Private insurers offer flashy ads, but when it comes to actually paying claims and standing by their promises for decades, LIC has an unmatched record. Here's why millions choose LIC:

98.62% claim settlement ratio, highest in India
100% Government of India backed, zero risk of company shutting down
65+ years of trust, your parents and grandparents relied on LIC
29 crore+ active policies, more than any other insurer in the world
Bonus track record: LIC has consistently declared bonuses for decades
Largest investment portfolio in India, over ₹43 lakh crore assets

Quick Comparison

Claim Settlement98.62%95-97%

Government Backing100%None

Years in Business65+15-25

Active Policies29 Crore+1-5 Crore

Fund Size₹43L Crore+₹1-5L Crore

LICPrivate Avg.

Latest from Our Blog

Honest guides on LIC plans, taxes, claims, and money decisions.

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News

LIC Premium Hike 2026 Explained. Who is Affected and What to Do

LIC revised premium rates on several plans in 2026. If you are planning to buy, here is what changed and how to lock in lower rates.

12 May 20266 min read

Comparison

LIC Jeevan Anand vs Jeevan Labh. Which Endowment Plan Wins in 2026?

Both are bestsellers. One gives lifetime cover after maturity, the other gives the highest bonuses. Here is which one fits your goals.

10 May 20269 min read

Strategy

The Amritbaal + Smart Pension Combo. A Smart Way to Fund Your Child's Future

Pair LIC Amritbaal with Smart Pension to fund your child's annual premium and build a lifetime income for yourself. Here's the math.

8 May 20268 min read

Money Decision

Should You Surrender Your LIC Policy in 2026? A Brutally Honest Guide

You are paying premiums on an old LIC policy and wondering if you should just exit. Read this before you do anything.

5 May 20268 min read

Comparison

LIC vs PPF vs NPS. Where Should You Put Your ₹1.5 Lakh in 2026?

All three save tax under Section 80C. But which one actually builds the most wealth over 20 years? We crunched the numbers.

28 Apr 202610 min read

Guide

Why LIC Claims Get Rejected. The 8 Real Reasons and How to Avoid Them

LIC's claim settlement ratio is 98.5%, but that 1.5% is real families. Here is exactly why claims get rejected and how to never be one of them.

20 Apr 20269 min read

Frequently Asked Questions

Honest answers to the questions people ask us most.

Is LIC safe for investment in 2026?

Yes. LIC is owned by the Government of India and is the largest life insurer in India with over 28 crore policies in force. It is regulated by IRDAI and has a sovereign guarantee on its policies. LIC has consistently paid bonuses every year since 1956.

How much life insurance do I need?

A simple rule is 10 to 15 times your annual income. If you earn ₹10 lakh a year, you should have at least ₹1 crore to ₹1.5 crore of life cover. Also factor in outstanding loans, your children's education costs, and 10 years of family expenses.

What is the difference between LIC term plan and LIC endowment plan?

Term plans give pure protection at the lowest cost. Your family gets the sum assured if you die during the term, but you get nothing if you survive. Endowment plans combine protection with savings. You get sum assured plus bonuses at maturity even if you survive the term, but premiums are 8 to 10 times higher.

Can I claim Section 80C tax deduction on LIC premiums?

Yes. Under the old tax regime, LIC premiums qualify for deduction under Section 80C up to ₹1.5 lakh per year. Maturity proceeds are tax-free under Section 10(10D) if the premium is 10% or less of sum assured. The new tax regime does not allow 80C but maturity is still tax-free.

Which LIC plan gives the highest returns?

LIC Jeevan Labh (Plan 736) and LIC New Jeevan Anand (Plan 715) have historically delivered the highest maturity returns among endowment plans, with effective IRRs of 5.5% to 6% per year. SIIP (Plan 752) can deliver higher market-linked returns but with market risk.

How do I check my LIC policy status online?

Visit licindia.in, click 'Customer Portal,' and register or login with your policy number and date of birth. You can check premium status, bonus accrued, maturity value, and download premium receipts. You can also call LIC at 022-6827-6827.

What happens if I miss an LIC premium?

You have a grace period of 30 days (15 days for monthly mode) to pay the missed premium without penalty. After that, the policy lapses. You can revive a lapsed LIC policy within 5 years by paying outstanding premiums plus 9.5% interest.

Can NRIs buy LIC policies?

Yes. NRIs from most countries can buy LIC policies during a visit to India, through power of attorney, or via the NRI portal. Premiums can be paid from NRE, NRO, or FCNR accounts. NRIs in the US and Canada have restricted plan choices due to regulations.

Not Sure Which Plan is Right for You?

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