Both products have different benefits. LIC Money Plus is an endowment unit-linked plan (ulip) where maturity amount is linked to the fund value in the policy term while LIC Jeevan Nischay is a single premium close-ended plan exclusively for LIC policyholders who are looking for guaranteed returns. The latter has been designed for conservative investors who desire fixed returns at the end of maturity along with tax benefits. So, you can consider buying LIC Jeevan Nischay if you are ready to lock in your money for 5-10 years and expect a predefined tax-free return. Read our product review on LIC Jeevan Nischay.