LIC’S NEW CHILDREN’S MONEY BACK PLAN

Lic’s child plan provides your children with the best facility for their future.

Lic’s New Children’s Money Back Plan gives you the best saving and protection benefits to your children and this plan is a non linked and limited premium plan.

Lic’s children plan which offers facilities to your growing children need especially for education and marriage annual survival benefits are available years and covers risk during the policy term.

Lic’s child plan provides your children with the best facility for their future

Min Basic Amount Assured: Rs 1,00,000

Max Basic Amount Assured: No Limit

Policy Time: 25 years age at entry of the child

Min Entry Age: 0 Years

Max Entry Age: 12 Years

Max Age at Maturity for Life Assured: 25 years

Premium Payment Mode: Monthly, Quarterly, Half-yearly, Yearly

LIC’S NEW CHILDREN’S MONEY BACK PLAN BENEFITS

1 Survival Benefit: policy in full force

  • 20% of MSA – 18 years age completion
  • 20% of MSA – 20 years age completion
  • 20% of MSA – 22 years age completion

On maturity at the age of 25 years – 40% of MSA + Vested Bonus + FAB if any.

2 Death Benefit:  on death before the date of commencement of risk

                              An amount equal to the total amount of premium paid excluding taxes, extra premium, and rider premium, if any shall be payable. ( Lic’s children plan)

                               on death after the date of commencement of risk

                               Sum Assured + Vested Bonus + FAB  if any.

                              Sum Assured is higher of 10 times of Annualized Premium or 105% of all premiums paid on death or                                          125% of basic sum assured.

Premiums do not include any taxes, rider premiums and extra premiums.

3 Surrendered Value Benefit: the Policyholder can surrender his policy at any time during his policy term but the condition is that three full years premium is paid. (Lic’s children plan)

4 Loan Benefit: After payment of premium for three full years than you can use the loan facility.

5 Income Tax Benefit: Tax Rebate is available when you pay the premium under this plan section is 80c and under sec 10(10D) maturity is free for this plan. ( Lic’s children plan)

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