LIC’s New Children Money Back Policy, Benefits of New Children Money Back Plan, Key Features of LIC’s New Children Money Back Policy:
LIC- Life Insurance Corporation has a very meaningful tag line “Zindagi k sath bhi, Zindagi k baad bhi”. LIC is a very popular insurance group and investment company headquartered in Mumbai which was established in the year 1956 by the Government of India. It was basically aimed at providing financial services to the people in terms of various policies. LIC Policies are beneficial for the investor as well as for his dependents after his death. LIC has introduced large number of policies for the investors in last few years. LIC’s New Children Money Back Policy is one such revised policy which aims to meet education, marriage and other financial requirements of growing children. Also read about How to Check LIC Policy Status Online?
New Children Money Back Policy was launched on 4th March, 2015. It is a non-linked money back plan with regular premium payment policy. It was specially designed to meet education, marriage and other expenses of growing children. It can be purchased by any parent or grandparent of child aged 0 to 12 years. It also provides risk cover on the life of child during this policy. It can also be measured as a saving as well as a protection plan for your child. Also read about LIC Jeevan Tarun Policy.
Key Features of LIC’s New Children Money Back Policy:
Let us now discuss its features in detail:
- Under this plan loan can also be availed if you have regularly paid premium for first 3 years.
- 25 years is maturity age of this plan i.e.when the child completes 25 years he is liable for receiving maturity and other survival benefits.
- Premiums can be paid regularly at monthly, quarterly, half-yearly and yearly mode. Highest assured basic sum has no limits but the minimum assured one is 1, 00,000.
- Plan can by surrendered any time after completing first years.
- It also provides death benefits. Say the insured person dies after the commencement of risk then death benefits will be paid as “sum assured on death+ Final Additional Bonus + Accrued Bonuses”.
Benefits of LIC New child money back policy:
- Survival Benefits: On the Life Assured surviving the policy anniversary coinciding with or immediately on the verge of completing the ages of 18 years, 20 years and 22 years, 20% of the Basic Sum Assured on each occasion shall be payable, provided the policy is in full force.
- Maturity Benefits: The sum assured on maturity (40% of the basic sum assured) along with vested simple reversionary bonuses and final additional bonus, if any, shall be payable, provided the policy is in full force.
- Participation in Profits: The policy shall be an active participantin profits of the corporation and shall enjoy its share of the simple bonuses declared as per the experience of the corporation, provided that the policy is in full force.
All these are the benefits associated with the New Children Money Back Policy of LIC. For more details you can visit the official website of LIC. This policy seems to be highly beneficial from investment point of view. It is the easiest way to secure the future of your child from the very beginning of his age as money will be needed in future for education , marriage purposes so why should we not start saving it from day one. So guys go for this policy, Enquire about it fully and enjoy its benefits.
To know more about the LIC’s New Children Money Back Policy, Please visit the official website at http://www.licindia.in