Life Insurance Corporation of India (LIC) keeps on bringing various types of policies according to different needs of the people.
Recently, a policy of LIC has been brought in keeping with the future of children. The name of this policy is ‘New Children’s Money Back Plan’. There are many benefits to investing in this policy. Let us say that LIC is a government-owned insurance company on which the country Crores of people have faith.
In the era of Covid-19 Pandemic, where most of the public-non-government companies had to go through a period of losses, LIC’s profits increased. LIC’s network is spread across the country. Now online services have also started in LIC. With this, customers can easily collect premium and do other things. The biggest thing is that the money invested in LIC is 100% safe. Sovereign Guarantee of the government is available on this. Learn about this special policy of LIC.
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This policy of LIC is designed keeping in mind the future needs of children. Every parent invests for their children’s education, marriage and other expenses. It has been taken care of in this policy that the future needs of the children can be met by the investment made in it.
In LIC’s ‘New Children’s Money Back Plan’ insurance policy can be taken in the name of a child up to the age of 12 years. The minimum insurance amount in this is 10 thousand rupees. There is no limit on the maximum sum insured. The premium waver benefit rider option is also available in this plan.
LIC’s ‘New Children’s Money Back Plan’ has a term of 25 years. This means that the maturity period of this plan is 25 years. However, under the money back plan it is also paid in installments.
Under this plan, LIC pays 20-20% of the basic sum insured when the child is 18 years, 20 years and 22 years old. The remaining 40 percent is paid on completion of 25 years of the policy holder.
Under this plan, LIC pays 20-20% of the basic sum insured when the child is 18 years, 20 years and 22 years old. The remaining 40 percent is paid on completion of 25 years of the policy holder.
In this money back plan of LIC, in case of death of the policy holder during the policy period, in addition to the sum assured, a simple bonus and a final extra bonus is given. Death benefit cannot be less than 105% of the total premium payment.
