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10 Best Business Books for 2025

As you are reading this post, I assume that you are looking for Best Business Books. You may be planning to start a new business or planning to expand your business. Whatever be the case I am sure that the books given below will surely help you to prepare for entrepreneurship. You can become successful businessmen or good business manager by reading these books.

Here, we have compiled an exclusive list of 10 Must Read Best Business Books for 2025. These books are collections of business books by best authors that can help you to understand business tactics, business strategy, and leadership skills. You can also enhance your professional skills such as communication, time management, and managerial skills via these books.

These books shall help you as a beginner, a startup entrepreneur, a new or a successful businessman, a student passionate about learning business skills or anyone wishing to become successful at work and in life both. Each and every book is bestseller and No.1 in its own unique way.

Also Read – 200 Small Business Ideas in India with Low Investment

best business books

10 Best Business Books for 2022

#1 Think and Grow Rich

Author – Napoleon Hill

Think and Grow Rich is an International Best Seller book. In this book, Napoleon Hill has crafted the philosophy and lifestyle behind those who experienced financial success. The aim of this book is to inspire people towards their own perspective goals.

#2 The Lean Startup

Author – Eric Ries

The Lean Startup is about how constant innovation creates a radically successful business. In this book, the author provides a scientific approach to creating and managing a successful startup business. It is a New York Times bestseller. You should read this book if you are planning to start a new business.

#3 Business at Speed of Thought

Author – Bill Gates

Business at Speed of Thought is a unique book written by Microsoft Chairmen and CEO Bill Gates. In this book, Bill Gates discuss – How technology can help in running a business in a better way. In this book Gates stress that manager should view technology as a strategic asset and not as overhead.

15 Best Books for Stock Market Investors

#4 7 Habits of Highly successful people

Author – Stephen R Covey

7 Habits of Highly Successful People is a powerful book for a personal change. In this book, the author presents a holistic, integrated, principal –centered approach for solving personal and professional problems. This book provides life-changing experience. You should read this book.

#5 The Art of Start

Author – Guy Kawasaki

The Art of Start is a book which can help you start a new company, a new division, new product, new services or anything new which is related to the business. From raising money to hiring the right people, from defining your positioning to creating a brand, from creating buzz to buzzing the competition, from managing a board to fostering a community this book will guide you everywhere.

#6 The Entrepreneur Mind

Author – Kevin D Johnson

The Entrepreneur Mind is a book that helps you to change the way you think. In the other words, it helps you to develop entrepreneur mind-set. This book also teach us some of the most important lessons of entrepreneurship.

Also Read – 50 Best Small Business Ideas

#7 The One Minute Manager

Author – Ken Blanchard & Spencer Johnson

The One Minute Manager is a very short book. This book provides three techniques of an effective manager: one-minute goals, one-minute praisings and one-minute reprimands. These techniques are very helpful for the manager.

#8 How to Win Friends and Influence People

Author – Dale Carnegie

How to Win Friends and Influence People is self-help book. It is one of the bestselling book. This book teaches you how to market yourself and generate more clients. Reading this book will surely help in your personal and professional life.

#9 Getting Things Done – The Art of stress-free Productivity

Author – David Allen

Getting Things Done is popular as GTD book. It is also called as time management or productivity improvement book. This book teach us to keep every task small so that it can be done in a short amount of time. It is one of the fastest way to achieve the goal. If you want to increase productivity and learn art of getting things done you should read this book.

#10 The Four Hour Work Week

Author – Timothy Ferriss

The Four Hours Work Week is one of the best business book. This book is about escaping 9 to 5, live anywhere and join the new rich. It teach us to various principal of life about business and personal life.

BONUS BOOK

#11 Zero To One

Author – Peter Thiel

Zero to One is book by venture capitalist and paypal co-founder. This book is about notes on startup or How to build the future. It’s recommended reading for startups, entrepreneurs and innovators.

This was my list of most popular and best business books. I am sure that reading these books will surely help you in starting up and managing your business.

Have you read any of these Business books? Are you planning to get any one of these business books? Which is your favourite one?

Do share your views on Best Business Books given above. If you want to add any other business books to the list above, feel free to share the same in the comment section below.

50 Best Small Business Ideas for 2025

Introducing 50 Best Small Business Ideas with low investment and high profit in 2025.

As you are reading this post, I assume that you are planning to start your own business and looking for business ideas. More and more people are becoming an entrepreneurs nowadays. If you are one of them who is bored with 9 to 5 job and want to take the plunge of business, you are at the right place. In this post, I will share an exclusive list of 50 Best Small Business Ideas for 2025.

The Best Small Business Ideas list given below includes everything like low-investment business, manufacturing business, part time business, home based business, online business etc. Select a business idea based on your skillset, experience and availability of capital.

best small business ideas

Also Read – 90 Business Ideas with low investment

For better understanding I have divided small business ideas in various categories –

#1 Technology Based Small Business Ideas

#2 Food Based Small Business Ideas

#3 Manufacturing Business Ideas

#4 Environment based Small Business Ideas

#5 Online Small Business Ideas

#6 Home Based Business Ideas

#7 Part-time Business Ideas

#8 Unique Business Ideas

#9 Other Small Business Ideas

50 Best Small Business Ideas for 2025

#1 Technology Based Small Business Ideas 2025

  1. Virtual Reality

The first technology based small business idea is related to virtual reality. The demand of virtual reality-based project is increasing. Virtual reality is instrumental in education, real estate, digital advertising, real estate and lot of other areas. If you have expertise in this area you can start your own business. The possible business scenarios are virtual reality device trading and developing platform & app for managing VR based products.

  1. Small Robot Toy Making Business

The next technology based small business idea is small robot toy making business. This idea demands technical knowledge and electronic background. So, if you are capable of making small robot toys you can grab the market in the year 2019

  1. Digital Consultancy

Each and every business is adopting new technology and industrial 4.0 revolution. Digital is new buzz word for everyone. It gives lot of business benefits. A digital consultant help business owner to atomize the business process with use of tools or applications. It is a very lucrative business idea.

  1. Smart Home Appliance

A smart home is made up of smart IoT enabled devices. These types of devices can be monitored or operated online. Starting from Stove, TV, refrigerator, water heater, cooking utensil everything is becoming smart. In this business you can either trade smart appliance or involve yourself in providing consultancy for configuring or converting devices into smart device.

  1. Chatbot

Almost every website is becoming smart by adopting chatbot concept. Chatbot is a computer application that simulates human conversation and respond via performing action by reverting with predefined answers. This helps to enhance customer satisfaction and services. Making chatbot is new technology business with lot of scope.

  1. IoT Business

The next in the list of new business ideas is IoT (Internet of Things). Today almost everyone uses multiple gadgets. Internet of Things or IoT is a business of connecting this device together with internet, collecting information and developing a fruitful solution. The solution could be for business or for personal usage.

  1. Mobile App Development

A usage of smartphone is skyrocketing. Every business owner and website owner demand for mobile application. If you have skillset in application development you can start this business. It is very good profitable option.

Also Read – 19 Online Business Ideas for 2019

#2 Food Based Small Business Ideas 2025

  1. Vegan Food

The first food based small business idea is vegan food. A demand of vegan food is increasing day by day. “vegan food near me” is one of the top search google query. In this business you can either prepare own vegan food and sell or trade in readymade vegan food.

  1. Food Kit Sale & Delivery

The second food based business idea is food kit sale & delivery. Everyone is living busy life and they are ready to spend money on readymade food. Thus starting a food kit sale & delivery is lucrative business option.

  1. Diet Food Making

People are becoming diet conscious. They are ready to spend money on diet food. This gives birth to new business called as diet food making. You can open store and sell diet food. You can even plan to sell diet food online.

  1. Organic Farming

Organic Farming is next in the list. A demand of the organic product is growing like anything. It gives birth to organic farming. Organic farming means growing fruit, vegetable, and crops in an organic (natural) way.  These types of food are used for making various products and food-related items. If you have an inclination towards farming you can start organic farming.

  1. Food Delivery

Food Delivery at home is next in the list of food based business. This business can be started in two ways. First is traditional food delivery and second is development of platform for food delivery.

  1. Readymade Food Shop

Readymade Food shop is one of the best food based business idea. People are fond of namkeen and readymade food. They usually prefer readymade food instead of cooking at home. This makes readymade food shop lucrative business option.

Also Read – 15 Best Startup Ideas for 2019

#3 Manufacturing Business Ideas 2025

  1. Manufacturing of Papers

A demand of paper is very high. Papers are used in school, colleges, corporate and various other places. Thus, starting a manufacturing business related to file, paper and folder is lucrative option. You can start with small paper manufacturing unit and expand at later stage.

  1. Manufacturing of Toys

Toy industry is evergreen and profitable industry. In this business, you need to manufacture toys for children. You should be creative in making toys. It will help you get success in this business.

#4 Environment based Small Business Ideas 2025

  1. Plastic Alternative

The first environment based business ideas is related to plastic alternative. A plastic bottle and plastic bags are banned at many places. This gives birth to recyclable and reusable alternatives to plastic products. In this business you need to develop and sell plastic alternative products.

  1. Landscape Services

The second business idea related to environment is landscape services. In this business, you need to offer landscaping services. This means activity related to gardening. Many business and individual avail landscape services.

  1. Pollution Mask

Increase in pollution gives birth to new business idea of pollution mask. In this business, you need to manufacture and sell pollution mask. Many individual opt for pollution makes to fight against pollution.

  1. Solar Panel

Solar Panel manufacturing is next booming business. This business requires big investment. However, return from this business is very high.

  1. E-Waste Recycling Plant

Usage of the electronic component is skyrocketing nowadays. Once these electronic components complete the useful life it becomes e-waste. The e-waste contains a lot of components including gold and silver. If you have expertise in processing electronic waste, you can start your own e-waste recycling plant.

#5 Online Small Business Ideas 2025

  1. Online Coaching & Consultancy

The first online business idea is online coaching and consultancy. You can do this business in two ways. First is via starting your Youtube Channel and second via starting your own website.

  1. Blogging

Blogging is one of the best online business idea. In this business you need to start blogging by writing content as per your area of interest. Once your blog gets popularity you can start paid content or earn from advertising.

  1. YouTube Channel

YouTube Channel is one of the best online business idea. In this business, you need to create unique videos on various topics. You can shoot videos via camcorder or you may use software to make videos. You need to post videos on your channel. Once your channel gains popularity you can make money via advertisement or paid membership.

  1. Online Store

Online store is next in the list of online business idea. It is one of the high investment business idea. To start this business, you can use existing business platform or design your own store.

  1. Affiliate Marketing

Affiliate marketing means promoting others product on your website and help them to increase the sale. On every product sell, you will get a commission. There are multiple websites that provide affiliate marketing program. The success of this business is based on your skill and area of interest.

#6 Home Based Business Ideas 2025

  1. Insurance Agency

A first home based business is insurance agency.  In this business you need to sell insurance policies. You will earn commission on every policy. You should have good communication skill and convincing power to become successful in this business.

  1. Networking Marketing

Network marketing is one of the best home based business. In this business you need to sell product and services of associated company. Your income includes income from your own sales and percentage income from the sales group which is recruited by you. This business demands time and dedication.

  1. Tiffin Services

If you are good at cooking or develop good recipe you can start tiffin services. You need to do proper market research before starting this business. Investment required for this business is very low. Tasty food and timely delivery is formula of getting success in this business.

  1. Hand Made Gift

Handmade gift is one of the best creative business idea. In this business, you need to serve customer by offering handmade gifts. You can open online or offline store. A success rate of this business is high.

  1. Seasonal Decoration

Next business is seasonal decoration. Occasion such as Diwali, Birthday, Christmas, marriage demand different types of decoration material. If you are creative you can start business of decorative material form home.

  1. Appliance Repair

Any home appliance require repair and maintenance. If you have expertise you can start appliance repair business at home. A success rate of this business is moderate.

  1. Spoken English Coaching Class

Starting spoken English coaching class is next in the list. To start this business, you need to be expert in English language especially spoken English. Many student and professional opt for spoken English course. This makes spoken English coaching lucrative business option.

#7 Part-time Business Ideas for 2025

  1. Language Classes

Learning a foreign language is a trend today. Students and working professional both opt for learning a foreign language. French and Spanish are popular foreign language. If you expert in any of these languages you can start foreign language class.

  1. Tuition Class

Starting at Tuition Class is one of the best part time business idea. If you have good teaching skill and knowledge you can start this business. You just need few wooden benches and blackboard for starting this business. At an initial stage this business demands mouth publicity or advertisement.

  1. Real Estate Agent

One of the highly profitable business ideas is opening real estate agency. In this business, you need to help people in finding the right property for rent or sell. You can earn hefty commission from every transaction.

  1. Stock Market Trading

One of the most profitable business is stock market trading. You can start this business from the moderate capital. However, this business demands a lot of knowledge and expertise. You have to be extremely good in trading to make a profit.

#8 Unique Business Ideas for 2025

  1. Children Play Area

Children Play Area is becoming popular business option. Children love spending time at creative play area or at place where they can feel adventure. You can start your own business by establishing such a place. Investment required for this business is moderate.

  1. Antique Business

Antique product business is very good business idea. In this business you will be dealing with antique items and furniture. You can start this business by arranging auction or by opening a small shop. This business requires high investment.

  1. Funeral Services

Funeral Services is growing concept. These type of organization help families and relative to take a decision and give them advice about a ritual of the funeral. Not only that they will arrange for all material required during the funeral ritual.

  1. Doula Services

Doula service is a new concept in India. Doula services mean providing emotional, physical and assistance to pregnant women in getting the information she needs to make empowered decisions throughout her pregnancy, birth.

#9 Other Small Business Ideas 2025

  1. Market on Wheel

Market on Wheel is upcoming concept. In this concept, you need to make vehicle which will look like shop. You need to sell household items on the move. It is low investment and profitable business idea.

  1. Remote Employee Monitoring

The next idea is remote employee monitoring. It is a tool to monitor and record the amount of time employee spend on actual work. This is to minimize waste of time and increase productivity. There are many readymade tool available online. Your task is to identify and associate with selling of such tools.

  1. Corporate Wellness

Corporate Wellness is the program that is designed to support employee wellbeing. Every organization opts for the corporate wellness program. If you are an expert in designing corporate wellness program you can start your own business related to corporate wellness. It is one of the best evergreen business idea.

  1. E-bike Sell and Repair

Selling electronic bike or starting electronic bike repair service is the next new business idea. The demand for electronic bike is growing and in the future, we may see a huge rise in the usage of the e-bike. Thus starting E-bike sell and repair is one of the very good lucrative business options.

  1. Dating Consultant

Dating consultancy is new concept. If you are creative and good at communication you can become online dating consultant. It is a new concept. In this business, you need to advise people on dating and love life. It is a larger responsibility as you are dealing with someone’s love life. You need to act as an account manager for dating sites.

  1. Video Making/Editing

If you know video making or editing you can earn a lot of money. There are many people who are looking for professional video maker or editor. Alternatively, you can establish your own business of providing professional video making and editing. It is a futuristic business with a lot of potential.

  1. Tea Coffee Shop

Starting a tea or coffee shop is next in the list of low cost business ideas. In this business, you need to rent small place or stall for opening tea stall. You will also need raw material for making tea and coffee. It is advisable to start this business near school or colleges.

  1. Travel Agency

Travel agency is one of the best business ideas with low investment. The travel industry is an evergreen industry. People across world travel a lot for various purposes. In order to help them with lodging boarding and travel you can opt to start own travel agency. It is low investment business.

  1. Mobile Repair

Mobile repair and recharging business is next in the list of low cost business ideas. Before starting this business, first you need to learn mobile repairing. It is recommended to do course on mobile repairing. The investment required for this business is very low.

  1. Mobile Auto Garage

Mobile Auto Garage is latest business that can be started with low investment. You need to keep mobile manpower/repairers for this business. It is a good business idea because car breakdown takes place in the area where garage service is not available.

Home Insurance Policy in India – Features, Benefits

Home Insurance is offered at the time of taking Home Loan. Most of the time people avoid home insurance policy. It is due to lack of awareness. Home Insurance policy is also popular as property insurance.

The home insurance policy covers structure and content. It provides insurance coverage to home against natural calamities such as earthquake, flood, fire, burglary etc. There are very few companies in India that offer Home Insurance Policies. A home insurance policy is a must for all homeowners. In this post, I will share detail information about Home Insurance Policy in India. I will also provide information about insurance companies offering home insurance policies.

Also Read – Top 5 Best Health Insurance in India 2019

What is Home Insurance Policy?

Home insurance policy provides coverage to home-owners against damage and losses that affect their property and belongings. The exact policy coverage varies from policy to policy; however, mostly all insurance policies safeguard home structure against natural and man-made calamities.

Many policies also offer financial assistance if a property is damaged badly and the homeowner is required to stay somewhere else.

Key Features of Property Insurance

  • Provide protection against earthquake, flood, storm, cyclone etc.
  • Covers against burglary.
  • Cover against fire and allied perils.
  • Jewellery and valuables coverage against accident or misfortune.
  • Optional Cover for Domestic Mechanical, Electrical, and Electronic appliances.
  • Personal Accident Coverage for earning member.
  • Additional Rent for alternate accommodation.

Type of Property Insurance  

The property insurance policy is available in four types –

  1. Structure Cover – This type of policy only cover the structure of your home. The compensation under this policy is paid to repair damages to structure caused by nature or man-made disasters.
  2. Content Cover – The content cover provide coverage of content inside your property. If content stored under property is damaged or lost due to accident or burglary, insurance company provide compensation against content.
  3. Fixed Sum Insured – Sum insured under selected under the policy, will be same throughout policy period, however, discount in premium will be offered as per duration of the policy.
  4. Increase in Sum Insured – Sum insured under the policy shall increase by a certain percentage of the original sum assured every year.

home insurance

Property insurance policy is provided for both owned and rented home.

Home Insurance Policy in India

Home Insurance policy in India is provided by various insurance companies. The list is given below. (Please do not consider this as a recommendation list).

  • HDFC ERGO
  • ICICI LOMBARD
  • Reliance General
  • TATA AIG
  • IFFCO TOKIO General Insurance Co. Ltd
  • Royal Sundaram Gruhsuraksha Policy

Also Read – Top 6 Best Term Insurance Plans in India 2019

Tips to select Property Insurance in India

To ease out selection of best home insurance policy here are some important tips.

Check premium and coverage – First, you should evaluate the risks which your home is likely to face in the future. For example, if your home is in earthquake-prone zone you should buy structure insurance. If a theft incident in your area is common you can go for content insurance also. While buying a policy you should check premium and coverage offered by the policy.

Sum Assured – If you feel that risk level is expected to increase in the future you should buy increasing sum assured policy. If risk level is low you can go for a fixed sum assured.

Claim Settlement Ratio – It is a good idea to check for claim settlement ratio before zeroing in on one insurer.

Customer Support & Claim Process – You should also look at customer support and claim process while buying an insurance policy.

Should you Buy Home Insurance Policy?

Home insurance is a must for anyone who has a home whether owned or rented. As you know, we don’t have any control over nature or man-made disasters. The best idea is to prepare ourselves by securing our home and belonging via insurance.

If you are living in an earthquake or flood sensitive area you should understand associated risk and buy a suitable property insurance policy. Make sure to cover both structure and content while buying property insurance.

How to File Home Insurance Claim?

The process of filing claim for home insurance varies from insurer to insurer. However, in most of the cases, you need to file FIR and submit the copy to the insurance company. In addition to that, you need to submit various other documents such as repair estimate, invoice of owned articles, investigation report by police etc.

The document requirement given above is indicative and you may be asked to submit other documents at the time of claim settlement.

Do you think buying property insurance policies makes sense?

Please share your views and queries in the comment section given below.

Top LIC Pension Plans for Retirement Planning

lic pension plans

A pension plan is one of the most popular ways to save money for retirement. Pension plans offer dual benefit of pension and insurance cover. Pension plans are also known as retirement cum investment plans. In this plan you need to contribute via monthly, yearly or onetime payments and you can get steady monthly income or lump sum money post your retirement.

Pension plans help you to secure your financial future post-retirement.  There are multiple pension plans available in the market with different annuity options. It is advisable to select a retirement plan based on your retirement goals. E.g. if you want to retire early, your corpus upon maturity should be enough to support additional years. In addition to your retirement goals, you should also evaluate a plan based on annuity, return, premium payment flexibility, pension guarantee, risk coverage, and additional benefits.

LIC offers a number of pension plans. In this post, we will discuss Top LIC Pension Plans for retirement planning. In addition to that, we will also look at tips to choose the right pension plan.

What is Pension Plan?

A pension plan is a retirement insurance policy/scheme that offers regular income and bonus, post-retirement at a low premium. It is investment cum insurance plan.

Types of Pension Plan in India

Types of Pension Plans available in India are given below.

Deferred Annuity – A deferred annuity plan allows you to accumulate corpus via regular or single premium over a policy term. Pension begins at the end of term.

Immediate Annuity – Immediate annuity scheme allows only lump sum one time investment. Pension begins immediately at the end of policy term. You can get benefit of tax exemption on the premium paid.

Annuity Certain – Under annuity certain scheme pension is disbursed for a specific period. The policyholder is allowed to select the period. The nominee can claim the pension after the death of the policyholder.

With Cover Pension Plan – With cover pension plan comes with life cover component. This means that on the death of the policyholder, a lump sum amount is paid to the family members. The coverage amount in this case is not very large.

Life Annuity – Life Annuity plan is plan where pension is paid till death. If option of with spouse is selected spouse will continue to receive pension on the death of policyholder.

National Pension Scheme – NPS scheme is backed by the government of India. National pension scheme allows you to invest your money in equity and debt market based on your preference. You can withdraw 60% of money at the time of retirement and remaining money you need to use for buying annuity.

Guaranteed Period Annity Plan – Under this scheme, annuity is given to the life assured for certain period like 5,10,15 or 20 years irrespective of survival of policy holder.

Top LIC Pension Plans for Retirement Planning

LIC offers multiple pension plans such as LIC Jeevan Nidhi, LIC Jeevan Shanti, Jeevan Akshay etc. Details of LIC pension plans are given below.

LIC Jeevan Nidhi

LIC Jeevan Nidhi is launched by LIC in the year 2013. LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan which provides death cover during the deferment period and offers annuity on survival to the date of vesting.

Eligibility Conditions –

  • Minimum Basic Sum Assured :  Rs.1,00,000
  • Maximum Basic Sum Assured :  No Limit
  • Minimum Entry Age  :  20 years (nearest Birthday)
  • Maximum Entry Age :  60 years (nearest birthday)
  • Policy Term :  5 to 35 years
  • Minimum Vesting Age :  55 years (nearest birthday)
  • Maximum Vesting Age :  65 years (nearest Birthday)

Benefit on Vesting – On vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured. It gives two different options one is to purchase immediate annuity plan or to purchase new single Premium deferred pension product from LIC.

Benefit on Death – If policyholder expires during the first five policy years, basic sum assured along with accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.

In case if policy holder expires after first five policy years, basic sum assured along with accrued Guaranteed Addition, Simple Reversionary and Final Additional Bonus, if any, shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.

LIC Jeevan Shanti

LIC Jeevan Shanti is pension plan launched by LIC in the year 2018. LIC Jeevan Shanti is a Single Premium Guaranteed Pension Plan (Plan 850). It is a non-linked, non-participating, one-time investment annuity plan wherein policyholder can select from the immediate pension or deferred pension options. This means you can start receiving pension either immediately on the maturity of this policy or at deferred annuity option.

Eligibility Conditions –

Immediate Annuity

  • Minimum Age – 30 years
  • Maximum Age – 85 years
  • Min Annuity – Rs.1000 monthly, Rs.3000 Qly, Rs.6000 Half yearly and Rs.12000 yearly
  • Minimum Purchase Price – 1.5 Lakh

Deferred Annuity

  • Minimum Age – 30 years
  • Maximum Age – 79 years
  • Maximum Vesting Age – 80 years
  • Min Annuity – Rs.1000 monthly, Rs.3000 Qly, Rs.6000 Half yearly and Rs.12000 yearly
  • Minimum Purchase Price – 1.5 Lakh

There are multiple annuity options under this plan.

The annuity options under immediate annuity are given below.

  • Option A Immediate Annuity for life
  • Option B Immediate Annuity with a guaranteed period of 5 years and life thereafter
  • Option C Immediate Annuity with a guaranteed period of 10 years and life thereafter
  • Option D Immediate Annuity with a guaranteed period of 15 years and life thereafter
  • Option E Immediate Annuity with a guaranteed period of 20 years and life thereafter
  • Option F Immediate Annuity for life with return of Purchase Price
  • Option G Immediate Annuity for life increasing at a simple rate of 3% p.a.
  • Option H Joint Life Immediate Annuity for life with a provision for 50% of the annuity to the Secondary Annuitant on the death of the Primary Annuitant.
  • Option I Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives.
  • Option J Joint Life Immediate Annuity for life with a provision for 100% of the annuity payable as long as one of the Annuitant survives and return of Purchase Price on the death of the last survivor

The annuity options under deferred annuity are given below.

  • Option 1 Deferred annuity for Single Life at vesting age
  • Option 2 Deferred annuity for Joint Life at vesting age

Pradhan Mantri Vaya Vandana Yojana

LIC Pradhan Mantri Vaya Vandana Yojana is pension scheme notified by the government for the senior citizen above 60 years. It is government subsidized pension scheme which shall provide an assured return of 8% per annum payable monthly (i.e equivalent to 8.30% per annum) to the pensioner surviving during the policy term of 10 years. Pradhan Mantri Vaya Vandana Yojana is a single premium payment pension plan. This pension plan offers an option to choose either the amount of pension or the Purchase Price. The last date of applying for this policy is up to 31st March, 2020.

Eligibility Conditions –

  • Minimum Entry Age – 60 Years Completed
  • Maximum Entry Age – No Limit
  • Policy Term – 10 Years
  • Maximum Purchase Price – 15 Lakh

Benefits –

Pension payment – On survival of the pensioner during the policy term, Pension shall be payable as per selection of mode.

Death benefit – On the death of the policy holder during the policy term, the purchase price shall be returned back to the nominee.

Maturity benefit – On survival of the pensioner to the end of the policy term, Purchase price and final pension instalment shall be payable.

Tips for the selection of Right Pension Plan

Few important tips while shortlisting pension plan are given below.

  • Make estimate of future financial goals. Consider your current expenses and expected future expenses while evaluating pension scheme.
  • Evaluate all available plans, read the benefit offered by the plan post retirement and select plan accordingly.
  • Don’t invest in the pension plan for the sole purpose of saving tax.
  • Know other Investment options and select the best investment option based on safety of capital and returns.

If you think any of above LIC pension plans are suitable for requirement start investing.