Get your child ready for the future, get LIC’s New Children Money Back Plan

New Delhi. The country’s largest life insurance company Life Insurance Corporation of India (LIC) offers several policies keeping in mind the convenience of the customers. Many benefits are given to customers on investment in this company’s policy. In today’s time, at some point in the center of financial planning of parents, their children are also involved. Many also invest somewhere for children’s education, marriage and other expenses. Life Insurance Corporation of India also has one such scheme, which is designed keeping in mind the needs of children. We are talking about LIC’s New Children’s Money Back Plan.

Let’s know the special features of this policy …

>> The minimum age for availing this insurance is 0 years.
>> Maximum age of taking insurance is 12 years. >> Its minimum sum assured is Rs 10,000.

>> There is no limit on the maximum sum insured.
>> Premium Waver Benefit rider-option also available.

Period of maturity The total term of LIC’s New Children’s Money Back Plan is 25 years.

Money Back Installment- Under this plan, LIC pays 20-20 percent of the basic sum insured when the child is 18 years, 20 years and 22 years old. The remaining 40 percent will be paid on completion of 25 years of the policy holder. Along with this, all kinds of outstanding bonuses will be paid.

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Maturity Benefit At the time of policy maturity (if the insured does not die during the policy term) the policyholder will get the remaining 40 percent of the sum assured with a bonus.

Death Benefit In the event of the death of the policyholder during the policy term, the underlying simple reversionary bonus and the last additional bonus in addition to the sum assured are given. Death benefit shall not be less than 105 percent of the total premium payment.

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