Several LIC plans offer monthly income, but the best one for you depends on your specific needs and goals. Here are some popular options:




Retirement Plans:

  • Jeevan Umang (Plan No. 945): This non-linked plan provides guaranteed monthly income after the premium payment term ends, along with a maturity benefit. It's a good option for securing regular income during retirement.
  • New Jeevan Shanti (Plan No. 850): This unit-linked plan offers a choice of immediate or deferred annuity for lifetime income. It provides flexibility and potential market-linked returns.
  • Bima Jyoti (Plan No. 860): This plan offers guaranteed monthly income and a maturity benefit. It's suitable for individuals seeking both income and wealth accumulation.

Child Education Plans:

  • Jeevan Tarun (Plan No. 859): This plan offers guaranteed lump sum payouts upon maturity and optional monthly income for the child's education. It provides financial security for your child's future needs.
  • New Jeevan Lakshya (Plan No. 851): This unit-linked plan offers a lump sum payout upon maturity and optional monthly income for child education. It provides potential market-linked returns and flexibility.
  • Jeevan Lakshya (Plan No. 845): This plan offers guaranteed lump sum payouts at specific milestones, along with optional monthly income for child education. It provides financial support for your child's educational expenses.

Other Income Plans:

  • Jeevan Labh (Plan No. 831): This endowment plan offers guaranteed monthly income after a specific period and a maturity benefit. It's suitable for individuals seeking both protection and regular income.
  • New Jeevan Anand (Plan No. 815): This endowment plan offers guaranteed monthly income after a specific period, a maturity benefit, and optional loyalty additions. It provides a combination of protection, income, and wealth accumulation.

Factors to consider when choosing an LIC monthly income plan:

  • Your income needs: How much monthly income do you require?
  • Investment horizon: How long can you invest?
  • Risk tolerance: Are you comfortable with market-linked risks?
  • Financial goals: Are you prioritizing retirement income, child education, or something else?
  • Budget: How much can you afford for premiums?

Remember:

  • Consult a financial advisor for personalized recommendations.
  • Carefully read the policy terms and conditions before investing.
  • Compare different plans to find the best fit for your needs.

I hope this information helps you narrow down your options and find the best LIC monthly income plan for your situation!