LIC’s Jeevan Nidhi is a with-profits pension plan which provides for death cover during the deferment period and on survival to the date of vesting, the maturity proceeds are compulsorily to be used for purchase of annuity.
LIC Jeevan Surabhi is a money back plan. Jeevan Surabhi plan is similar to other LIC money back plans. However main differences in regular moneyback plans and Jeevan Surabhi are as Maturity term is more than premium paying term. Early and higher rate of survival benefit payment. A life insurance cover is available throughout the term of the plan. Risk cover increases every five years.