Plan Banao: your free family money plan
Plan Banao is a free, no-signup tool that builds a complete money plan for your family in about two minutes. Tell it your age, income, family details and how much you can invest each month, and it splits your budget across the three things that matter most: protecting your family with term insurance, saving for your child’s education and marriage, and building a retirement corpus. It now shows the actual LIC premium, sum assured and estimated maturity for each recommended plan, at low, medium and high risk, side by side.
Unlike a sales pitch, Plan Banao gives you honest guidance. It recommends the right LIC plan when a guaranteed plan genuinely fits — a child plan, or a lifelong-income plan like Jeevan Utsav or Jeevan Umang for retirement — and it tells you plainly when a term plan plus a mutual-fund SIP would build more wealth for the same money. No sales, only logic.
Your family money plan
Other LIC plans worth a look
Plan Banao above builds your plan around Jeevan Labh for the guaranteed pot, but LIC has plans for other goals too. Tap any to see your exact premium and maturity on the calculator.
| New Money-Back 20 Years (720) Cash back — 20% of your cover at years 5, 10 and 15, the rest plus bonus at maturity. This is the current version of the old plan 820. | see premium → |
| New Jeevan Anand (715) Savings plus life cover that continues for your whole life, not just the policy term. | see premium → |
| New Endowment (714) The classic guaranteed savings plan with life cover through the term. | see premium → |
| Jeevan Lakshya (733) For a sole breadwinner: your family gets a yearly income plus a lump sum if you pass away. | see premium → |
| Bima Jyoti (760) Fixed guaranteed additions — fully predictable, with no bonus guesswork. | see premium → |
All are participating / guaranteed LIC savings plans returning about 5–6% a year. For pure long-term growth a term plan plus an index fund usually beats these — use them for the part of your plan that must be safe.
Other companies’ savings & whole-life plans
Plan Banao builds your plan around LIC, but here is how the other big insurers’ guaranteed savings and whole-life plans compare — the full picture, in one place.
Almost every traditional savings, endowment and whole-life plan — LIC or private — returns roughly 5–6% a year, guaranteed. They barely differ on returns. So the real choice is about claim record, service, and payout flexibility (lump sum vs. lifelong income vs. whole-life cover) — not chasing a slightly higher illustration. And for long-term growth, a cheap term plan plus an index mutual fund has historically built far more than any of these. Use guaranteed plans for the part of your money that must be safe.
The flagship plans, side by side
| Insurer & flagship plan | Type | Indicative return* | Whole-life cover | Claim ratio (FY23–24)† |
|---|---|---|---|---|
| LIC Jeevan Labh · Jeevan Umang |
Participating endowment; whole-life income (Umang) | ~5–5.5% | Yes (Umang) | ~98.6% |
| HDFC Life Sanchay Plus · Sanchay Par Advantage |
Guaranteed (non-par); participating whole-life (Par Advantage) | ~5–5.7% | Yes (Par Advantage, to 100) | ~99.5% |
| ICICI Prudential GIFT Pro (Guaranteed Income) |
Guaranteed income (non-par); lump-sum or income | ~5.5–6% | Income-for-life option | ~99.2% |
| Axis Max Life Smart Wealth Plan |
Guaranteed savings; whole-life option (joint life) | ~5–6% | Yes (whole-life option) | ~99.7% |
| Tata AIA Fortune Guarantee Plus |
Guaranteed (non-par): lump sum, income, or whole-life income | ~5.5–6% | Whole-life income option | ~99.1% |
| SBI Life Smart Platina Assure |
Guaranteed (non-par) savings | ~5–5.5% | Limited-period income | ~99.4% |
*Indicative internal rate of return (IRR) for a typical adult; the exact figure depends on your age, term and the payout variant you pick, and for participating plans (LIC, Sanchay Par) the bonus portion is illustrative, not guaranteed. †Claim settlement ratios are FY2023–24, by number of claims; measurement methods vary between insurers, so treat small gaps as noise.
How to actually choose
Since the returns are so close, decide on these instead:
- What payout do you want? A big tax-free lump sum on a date (endowment), a regular guaranteed income (ICICI GIFT, Tata Fortune, HDFC Sanchay income), or lifelong cover plus income (LIC Jeevan Umang, HDFC Sanchay Par, Max whole-life).
- Guaranteed or participating? Non-par plans (HDFC Sanchay Plus, ICICI GIFT, Tata Fortune) lock the exact return up front. Participating plans (LIC endowments, Sanchay Par) depend on future bonuses, so the illustration can under- or over-shoot.
- Claim record & service. All the insurers above settle around 98–99.7% of claims, so any of them is safe; pick the one you find easiest to deal with for servicing and renewals.
- Do you even need a savings plan? If the money can stay invested for 10+ years, a term plan + index fund usually beats every plan in this table. Keep guaranteed plans for goals that must not fall in value.
Educational comparison, not individual advice. Plan names, features and returns are from insurers’ public product pages and IRDAI data (2026) and can change; guaranteed figures apply to non-participating plans only, and participating-plan bonuses are illustrative. Confirm exact figures and current claim ratios with each insurer or a licensed advisor before buying.