LIC NEW CHILDREN MONEY BACK PLAN is one of the best plan for those parents who really worried about their children’s education and their marriage also. Children’s money back plan provide the fix amount on fixed schedule which helps in childrens education planning. In case of some mishappening with parent PREMIUM WAIVER BENFITS available for assuring the benefits needs for their children’s in future.
∙ Complete Planning For Children future.
∙ 20% of basic assured as a Money Back Facility available at the age of child( 18th , 20th ,22ndyear).
∙ At the age of 25 year(child) get whole maturity.
∙ Premium waiver Rider option available.
: During the policy term if policy holder dies LIC will give amount equal to the total amount of premium paid excluding all taxes and extra premium, If any shall be paid.
On death after risk cover has begun ,the sum assured on death + vested simple revisionary bonuses+ additional bonuses if any paid, is payable subject to a minimum of 105% of all premium paid till death.
At age of 18 year, 20 year, 22 year, of child , LIC will give 20% of basic sum assured as a money back.
: On maturity 40% of basic sum assured along with vested simple revisionary bonuses and final additional bonus, if any, shall b payable.
: If proposer add on this premium waiver benefit rider in policy, at the time proposer death during the policy term LIC will give waiver to all future premium.
|Min. / Max. age of Entry||0 YRS /12 YRS|
|Min. / Max. Policy Term||25 age at Entry|
|Maturity Age||25 years|
|Min. Basic Sum Assured||1,00,000/-|
|Max. Basic Sum Assured||10,000/-|
|Mode of Payments||YLY , HLY , QLY , MTHLY|