LIC New Children’s Money Back Plan Benefits: LIC ‘s New Children’s Money Back Plan is such a scheme that can give you a hefty amount at the time of meeting other needs including children’s education, marriage. The great thing is that it also comes with timely money back as well as children’s life coverage and bonuses. If you can save Rs 769 every month, then at the time of maturity you will get around Rs 5 lakh. Let us know about this policy in detail…
Who can take New Children Money Back Plan
This policy can be open for children of at least 0 years of age (at birth).
and can be opened only by children of maximum 12 years of age
The maturity of this policy will be at the age of 25 years of the child
When can I pay the premium
You can choose to pay the premium on a monthly, quarterly, half-yearly or yearly basis as per your convenience.
You can take a loan against the policy : You can also get a loan by pledging this policy
What is the minimum amount policy can be opened
Minimum: Rs 1 lakh
max: no limit
When will the money be received during the policy
To the nominee after death,
After maturity, the policyholder gets more
Survival benefits in the form of money back also to the policyholder
If you take the New Children Money Back Plan (932) policy of 02 lakhs, then…
If child is 1 year old
Policy Term: 24 Years
Sum Assured: Rs 200000
Annual Premium: Rs.9034
Half Yearly: Rs 4566
Quarterly: Rs 2307
Monthly: Rs 769
When will the money back happen
In 18th year: Rs 40000
In 20th year: Rs 40000
In 22nd year: Rs 40000
How much will be the bonus: 2 lakh 16 thousand rupees
Final Additional Bonus: Rs 70,000
Maturity time: 25th year
Return at Maturity: Rs 3 lakh 66 thousand (40% of Sum Assured + Bonus + Final Additional Bonus)
Total Return: 04 lakh 86 thousand rupees
