The most trusted insurance company Life Insurance Corporation of India (LIC) has many beneficial investment schemes for people. Many benefits are given to customers on investment in this government-run company policy. Moreover, it is important for all of us to save some money and invest in a policy during the rising inflation period and corona crisis.
Everyone wants a safe and secured future for their children. Hence, LIC also has one such scheme which is designed keeping in mind the needs and future of children. Let’s know about this LIC policy in detail.
What are the Features of LIC’s New Children Money Back Plan?
(1) The minimum age for availing this insurance is 0 years.
(2) Maximum age of taking insurance is 12 years
(3) Minimum Sum Assured Rs 1,00,00
(4) No limit on maximum sum insured
(5) Premium Waver Benefit Rider – Option Available
Money-back installment –
The policy holder will get 20 percent of the sum assured at the age of 18, 20, and 22 years.
LIC 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% of the sum.
Added Feature of LIC’s New Children Money Back Plan
In the event of the death of the policyholder during the policy term, in addition to the sum assured, the simple reversionary bonus and the last additional bonus are given. The death benefit shall not be less than 105 percent of the total premium payment.
Source: krishijagran.com
