Investor Education

LIC Plan 5 years Double Money Benefits- Best LIC policy plan for 5 years in 2025

Oct 28, 2025

lic plan lic plan 5 years LIC Plan 5 years Double Money

The Life Insurance Corporation of India (LIC) is one of the leading life insurance companies in India. It has a wide range of insurance products that cater to different needs. One of which is the LIC 5 Years Double Money Plan which is designed to provide insurers with the double benefit of both life insurance as well as good return on maturity. This plan is particularly for those investors who are looking for a short-term investment and also wish to secure the financial future of their loved ones. These 5 year lic plans are tailored for those who want to achieve significant returns without the burden of high premiums in a short term period. The policy combines the benefits of life insurance with assured returns, providing both security and growth. While ensuring their family is financially protected in case of unforeseen events. This makes them an attractive option for those seeking a balance between insurance coverage and wealth accumulation.

LIC 5 Years Double Money Plan

The LIC 5 Years Double Money Plan offers many life insurance and investment plans, which may have different maturity periods and returns. It is designed for individuals who want to secure their financial future while enjoying the benefits of life insurance. The plan guarantees the policyholder's life coverage, along with a sum assured at maturity, but it doesn’t promise to double your money in 5 years. So it's essential to understand LIC plans for 5 years will provide you with good returns on maturity.

Best LIC Plan For 5 Year in 2025

Here are some best LIC plans for 5 years that you may consider for double money benefits for 5 years period:

1. LIC Term Assurance Plan

LIC Term Assurance Plan is a life insurance protection plan providing essential and reasonably priced financial stability for one's family at an affordable rate. This plan offers death benefits to the beneficiary of the policy on unfortunate death of the insured person during the tenure of the policy.

LIC Saral Jeevan Bima

The LIC Plans term assurance plan is popularly known as LIC Saral Jeevan Bima. It offers short-term risk coverage for the lives of insured clients. In addition, LIC pays the insured's family the sum assured if the insured policyholder passes away within the insurance term of the LIC scheme. Following is an overview of the plan:

Eligibility Criteria	Minimum	Maximum
Amount Assured	Rs.5,00,000	Rs.25,00,000
Age of Entry	18 years	65 years
Age of Maturity	–	70 years
Policy Tenure	5 years	40 years

2. LIC Endowment Plans

LIC endowment plans offer two important benefits of Savings as well as Insurance. The insured person has to pay a premium against your desired insurance cover amount known as sum assured. If the insured person survives through policy term then he will get the entire sum assured as guaranteed income at maturity but if insured person dies within the policy term, then beneficiary member will get the sum assured on death.

The LIC Dhan Sanchay Plan

The LIC Dhan Sanchay Plan enables policyholders to generate a source of revenue once the insurance expires. Moreover, the policy's nominee receives the death benefit if the policyholder passes away within the policy's term. Conversely, the five-year LIC Dhan Sanchay Plan is limited to the following options: Both Single Premium enhanced protection with Level Income Benefit and Single Premium Level Income Benefit are available.

Eligibility Criteria	Minimum	Maximum
Age of Entry	3 years	65 years
Single Premium	Rs.2 lakh	No limit
Policy Tenure	5 years, 10 years, or 15 years
Amount Assured on Death	Rs. 2.5 Lakhs for Single Premium Rs. 22 Lakhs for Single Premium enhanced cover

3. LIC Pension Plans

Retirement or pension plans are specially made for those who want to secure their future after retirement. With the help of an LIC Pension Plan, you can secure your future and get a regular cash flow of income after retirement.

LIC Pension Plus Plan

One of the best LIC policies in 5 years is LIC Pension Plus, a unit-linked pension plan that pays out monthly income to policyholders upon retirement. Additionally, it has a five-year lock-in period, which means that you can only remove the funds after five years. After that time, you can resign and withdraw the money.

Policy period	10-42 years
Age limit	25-75 years
Minimum amount	1 lac
Maximum amount	No limit
Premium Payment term	Minimum 5 years

4. Unit Linked Plans

Unit Linked Insurance Plans (ULIPs) from LIC both combined insurance protection with investment opportunities. It is suitable for investors who are looking to invest in equity and debt markets while taking the benefits of life insurance coverage.

LIC BhagyaLakshmi Scheme

LIC Bhagya Lakshmi Scheme is a minimally protected program that is non-participating. This is one of the powerful and best LIC plans for 5 years that offers the policyholder's loved ones financial security, which makes it a great investment option.

Eligibility Criteria	Minimum	Maximum
Age of Entry	18 years	42 years for PPT 5 years 55years for PPT 6-13 years
Age of Maturity	–	65 years
Policy Tenure	PPT+2 Years	7 Years 15 Years
Premium Paying term	5 Years	13 Years
Amount Assured	Rs 20,000/-	Rs. 50,000/-
Premium payment mode	Monthly, Quarterly, Half yearly, Yearly Single Premium.

5. LIC Mutual Funds

LIC MF Large and Mid-Cap Fund

Examining the LIC's performance over the past five years may help us identify the LIC MF Large and Mid Cap as the finest LIC plans for 5 years. Its value has doubled over the last five years as one of the most well-liked funds.

96% of the assets of this LIC mutual fund are allocated to stocks of large and mid-sized companies. An open-ended equity plan is managed by a mutual fund called the LIC Large & Mid Cap Fund.

Goal of Investment	Long-term financial appreciation will be provided by investing in a combination of large-cap and mid-cap firms.
Type of Fund	Large and Mid-Cap Fund
Minimum Investment amount	Rs. 1,000/-
Investment Options	SIP and Lump Sum
Exit Load	1% if returned after one year of the allocation date

Benefits of LIC Plan for 5 Years

Best LIC plans for 5 Years offer a great opportunity to invest money in just five years. Let's examine the major benefits of these LIC policy for 5 years:

Reputed Brand- LIC is a reputed and trusted brand known for its reliability and consistent performance which ensure investors about their safe investment.
Guaranteed Returns: When you obtain a short term LIC policy for 5 years, you are assured of the promised return on the maturity date. However, you should read all scheme-related documentation and policy terms to be safe and clear your doubts regarding the LIC Plan.
Short-Term Investment: This feature makes the LIC plans for 5 Years distinct and special. You must pay the insurance term for a very short period and then just wait until maturity.
Financial Security: The plan combines both insurance and investment which ensures that the beneficiary is financially protected in case of unforeseen events.
Tax Benefits: This Policy Sum Assured will be tax-free, and the money you pay for the LIC premium will be deducted according to tax guidelines.
Death and Disability Coverage: In addition to the Investment Return, an LIC 5 year plan provides Life Coverage. If you are the earning member of the family and are involved in an accident, your policy will pay for your medical expenses, relieving your family of any financial strain.
Loan Facility: Having one of the LIC plans for 5 years is crucial to consider as they allow you to let loans in the future against these policies.

How to Choose the Right LIC Plan for a 5-Year?

Choosing the right LIC plan for 5 years involves carefully checking several factors whether they align with your investment goals and objectives. Here’s how to approach it:

Identify Your Financial Goal: Determine what you want to achieve with the LIC plan 5 year plan—whether it's saving for a specific future expense, or securing your family’s financial future with insurance coverage.
Evaluate Premium Affordability: Assess your financial capacity to pay premiums. LIC offers various plans with different premium structures, so choose one that fits comfortably within your budget without straining your finances.
Check Policy Features: Compare the features of different LIC plans for 5-year, including maturity benefits, bonuses, and coverage options. Look for plans that offer guaranteed returns or the potential to grow your investment within five years.
Consider Insurance Coverage: Choose a plan according to your goals, like if life insurance is important for you, opt for a plan that provides a good life insurance coverage in case of unforeseen events. So that your family is financially protected.
Understand the Terms and Conditions: Read the fine print of the policy, including surrender value, loan facilities, and the implications of premature withdrawal. This will help you avoid any surprises down the line.
Consult a Financial Advisor: If you’re unsure which LIC 5-year double money plan to choose, consider consulting a financial advisor who can guide you based on your specific needs and risk appetite.

By following these steps, you can select the best LIC plan for 5 years that aligns with your financial goals and provides the benefits you seek within a 5-year time frame.

Who Should Consider LIC Plans for 5 Years?

To qualify for the lic plan for 5-Year, applicants must fulfil specific requirements. These are some typical qualifying requirements, while the exact requirements may differ:

Age: Generally, this plan is available for people between the ages of 18 and 55. For exact age restrictions, it's important to consult the official LIC standards.
Policy Term: This plan has a five-year policy term, which means that the policyholder must stick with it through that whole time.
Premium Payment: To maintain the validity of the insurance, policyholders must make timely and regular premium payments. The chosen sum assured, and the insured's age are just two of the variables that will affect the premium amount.

Conclusion

The LIC plan for 5 Years is an excellent choice for individuals seeking a balanced investment and insurance solution. It offers benefits of both life coverage and assured returns which makes it best for short-term financial planning.

List of some other LIC policies, you may like.

FAQ

Q. What happens if I can't pay the Premium on time for my 5-year-old LIC policy?

You receive a grace period from LIC to pay the Premium and avoid incurring late fees. Your benefits may be reduced, and the policy may expire if you still miss it. Thus, it's advisable to make your premium payments on time.

Q. Can I pay a single premium for a 5-year LIC plan?

Yes, you can pay a single premium for a 5-year LIC plan if you are looking for short-term financial security, and with a lump payment available.

Q. Can I surrender a 5-year LIC plan before maturity?

You can return the policy before maturity. The surrender value, however, can be less than the maturity sum. It's crucial to take this into account before giving up the policy.

Q. What are the tax implications of a 5-year LIC plan?

Depending on the current tax legislation, the tax implications of a 5-year LIC plan may change. In general, the premiums paid may qualify for tax exemptions or deductions, but the maturity amount may not be subject to taxes.

Q. Can I buy an LIC plan for 5 years online?

Yes, you can buy an LIC plan for 5 years online. It comes with various benefits, such as minimum processing time and less paperwork.

Q. Can I extend or renew my LIC policy after the 5-year term?

Yes, you can often extend or renew your LIC policy after the 5-year term but it depends on the terms and conditions of the policy you want to renew. Some policies allow renewal without any medical examinations, while some require medical examination again. So it is important that you should read the terms and conditions of policy before investing.

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