- This plan has been specially designed to meet the career needs of your child
- You have the option to choose the nature of pay-outs to match the need of your child. The plan offers the benefit in instalments or lump sum as chosen by the customer
- This plan also offers the Guaranteed risk cover of 125% of the Sum Assured
- The premium is payable only for a limited period under this plan
- On Maturity the child gets the Sum Assured along with Vested Bonus and Final Bonus, if any
- This plan also has the premium waiver benefit where the premium is paid by the LIC in case of any unfortunate event
- 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 installments
- 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 1 year of the policy
How Does This Policy Work
Sample illustration
| Eligibility Criteria |
|
Min. |
Max. |
| Age |
90 Days (Completed) |
12 Years (Last Birthday) |
| Policy Term |
25 Years - Age at Entry |
| Premium Payment Term |
20 Years - Age at entry |
| Basic Sum Assured |
Rs.75,000 |
No Limit |
| Maximum Maturity Age |
25 Years (Last Birthday) |
| Rider |
LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB)
|
