- LIC's New Children's Money Back plan has been designed to meet the educational & other needs of the child
- This plan offers the guaranteed 20% of Sum Assured to the child on the completion of ages 18, 20 & 22 Years
- The customer has the option to defer these pay-outs
- On Maturity, child gets the guaranteed 40% of Sum Assured along with Yearly Bonus & Final bonus
- In case of a minor, this plan also has the premium waiver benefit in case of death of the parent.
- This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
- In a similar way, the policyholder also has the option of choosing the death benefit in instalments
- LIC also offer the discount in the premium in case the mode of payment is Yearly
- The loan is also available to the policyholder after the completion of 2 years of the policy
- Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
| Eligibility Criteria |
|
Min. |
Max. |
| Age |
0 Years (Last Birthday) |
12 Years (Near Birthday) |
| Policy Term |
25 - Age at Entry |
| Premium Payment Term |
25 - Age at Entry |
|
| Basic Sum Assured |
Rs.1 Lac |
No Limit |
| Maximum Maturity Age |
25 Years |
| Rider |
LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) |
