LIC Child Plan
LIC holds dignity and reliability in the insurance sector. The customers have faith in it. It has strong market present and the variety of product range. Child plan is one of it. It provides securities to the parents for their children future plans. It supports financially to secure the life of children and it also acts as a guardian for the children in the absence of actual parents.
- Free of the premium rider
- Postponement of risk
- Vesting features
Best children plan offered by LIC
LIC Jeevan Tarun Plan
It is a blend of insurance and saving plan. It is the best child education plan for the future of children. It is a non-linked limited premium payment plan. It enables the holder to fulfil their desire of getting admission in the preferred educational institution. It has taken the burden of education expenses, hostel charges and other expenses. Features of the plan:
- It is a healthy mix of endowment plan and money back plan;
- The parents can avail this plan when the child is between the age of zero to twelve;
- The premium payment option is flexible and even it offers LIC waiver premium benefit rider;
- It includes an annual survival plan for children between the age of 20 to 24;
- It is available in four varieties ranging between 5 to 15 % every five years on the sum assured.
LIC New Children Money-back Plan
It is LIC child career plan. It supports the child to achieve their goal in life by paying the expenses of higher education, marriage, vocational training, etc. Features of this plan:
- Parents of the child below the age of 12 are eligible for this plan;
- The term policy can be extended to 25 years;
- Survival benefits are paid back with incentives at the rate of 20 %;
- Payment of premium is according to the discretion of policyholder;
- Entitle to bonuses out of profit earned by LIC and the tax benefits under ITA;
- Premium waivers in case of death of policyholder and policy can be surrendered after three years of the start of the policy.
Benefits of Child Plan
- It secures the future of your child in your absence;
- There are some children whose parents are not alive, in such cases, the premium is waived off;
- The maturity benefit is that you get 40 % of the sum assured on maturity
- The survival benefit is that you get 20 % of sum assured on survival
- Avoid capital erosion: Dynamic funds allocation so that the balance can be maintained in between the income and the debts
For best LIC Child Plans please call us on +91 9811328297.