LIC plans that pay a regular income
Plans that return money during the term — rather than only at the end — go by several names: money-back, survival benefit, regular income benefit.
They are genuinely useful when costs arrive on a schedule. They are not annuities, and it is worth being clear about the difference.
How a survival benefit actually works
At set points during the policy term, provided premiums are up to date, a specified percentage of the basic sum assured is paid out. The policy continues, and the death benefit is generally unaffected by those payouts.
The precise percentages and intervals differ per plan and are printed in each brochure. They are quoted on the plan pages here in LIC’s own wording.
Why this is not a pension
An annuity converts a lump sum into an income for life. A money-back plan returns portions of your own sum assured on a fixed schedule during a fixed term, and then ends.
There is currently no active dedicated annuity plan in this dataset. Anyone specifically looking for a lifelong pension should know that rather than be sold a money-back plan as a substitute.
From LIC's own brochures
Active plans to look at
These are LIC plans currently active in our dataset, matched on the criteria described above. Each page quotes LIC's own brochure and links to the source PDF. Nothing here is ranked by what earns the most.
Work it out yourself
Calculators for this
Common questions
Which LIC plan gives monthly income?
LIC’s money-back and regular-income-benefit style plans pay at defined intervals set out in each brochure, which are usually annual or at multi-year points rather than monthly. The plan pages show the actual schedule.
Do survival benefit payouts reduce the death benefit?
Generally no — the death benefit is defined separately in the policy wording. The exact treatment is in each plan’s own document.
Is this a good substitute for a pension?
Not really. It pays for a fixed term rather than for life. If lifelong income is the requirement, that is a different product category.
Not sure which of these applies to you?
Five questions, no account needed, and it will tell you honestly if nothing fits rather than pushing the closest match.