If you also want to take LIC’s child policy to secure the future of your child, then today we will tell you 3 such plans of LIC which will help you to choose the right insurance policy for your child.
LIC New Children Money Back Plan
Money back is available thrice in this plan. First, when the child is 18 years old, then 20% of the sum assured, second time 20% of the sum assured at the age of 20 and 20% of the sum assured at the age of 22 for the third time. And when the child turns 25, the policy matures. Then 40% of the sum assured plus bonus is paid. In this policy, if you do not want money back in the 18th, 20th or 22nd year, then you can take it on maturity. The age to take this insurance is 0 to 12 years. The minimum Sum Assured in this policy is Rs 10,000 while there is no limit on the maximum Sum Assured. Premium waiver benefit rider-option is also available in this plan. Its total term is 25 years.
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LIC Jeevan Tarun Plan
Jeevan Tarun Plan is a non-linked, profit sharing limited premium paying policy, which is a combination of insurance and savings for a secure future of a child. LIC’s Jeevan Tarun plan is for children in the age group of 0 to 12 years. In this 4 options are offered. First option you will get 100% amount at the time of maturity. In the second option, after turning 20, you can take 5-5 percent of the sum assured for the next five years. Then at the time of maturity, you will get the remaining 75 percent of the money. In the third option, 50 percent of the money will be given after 10-10 percent tax in these five years, while the remaining 50 percent will be available together on maturity. In the fourth and last option, 15-15 percent of this amount is given and the remaining 25 percent is available on maturity. The minimum sum assured under this plan is Rs 75000. The special thing is that you can take the policy in the name of the child only.
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LIC Jeevan Lakshya
By taking this policy in your name, you can keep the child in the nominee. In this, you will have a policy period of 13 to 25 years. You will have to pay 3 years less than the number of years you take the policy. It has inbuilt premium waiver benefit rider. Under the policy, if any untoward incident happens to the insured, the nominee gets 10 percent of the sum assured every year and all future premiums are waived. Whereas the maturity pay is 110 percent of the sum assured and along with the bonus, the maturity is paid. People in the age group of 18 to 50 years can take this policy. The minimum sum assured in this scheme is one lakh rupees and there is no maximum limit.
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