This paper builds a model for the benchmarking and the selection of a suitable LED for wireless optical communication, in particular for indoor LiFi Infrared or visible light communication. It reviews LED measurements and theoretical models for such trade-off and applies these into communication bit-rate throughput expressions. While illumination LEDs are chosen for a large quantum efficiency, for communications also a large 3 dB bandwidth is preferred. In the LED, electron hole pairs recombine radiatively (thereby emitting a photon) or non-radiatively (causing a leakage current and reducing EQE). Non-radiative recombination also contributes to the response speed of the LED and increases its 3 dB bandwidth. On the other hand, a reduction in...