Ask Value Research

Are LIC term plans costlier?

LIC's Anmol Jeevan is an offline plain term plan that pays the sum assured to nominees on death of the policyholder

Tell me about LIC Anmol Jeevan term insurance plan. I heard that LIC term insurance plans are costlier than others. Is this true? If yes, suggest a cheaper plan.
- Ajeet Tari

LIC Anmol Jeevan is an offline plain term plan that pays the sum assured to nominees on death of the policyholder. It is true that LIC term plans are expensive than the plans from private insurers. You may opt for term plans from Aviva, HDFC or Max Life insurance. If you are young and eligible to buy an online policy, go for online term plans. They are cheaper than offline plans. Choose one insurer if you are buying a cover of up to ₹50 lakh. Opt for two insurers if you are buying a cover of ₹75 lakh or more.

This article was originally published on October 26, 2015.

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