- LIC's New Children's Money Back plan has been designed to meet the educational & other needs of the child
- This plan offers the guaranteed 20% of Sum Assured to the child on the completion of ages 18, 20 & 22 Years
- The customer has the option to defer these pay-outs
- On Maturity, child gets the guaranteed 40% of Sum Assured along with Yearly Bonus & Final bonus
- In case of a minor, this plan also has the premium waiver benefit in case of death of the parent.
- 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 instalments
- 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
| Eligibility Criteria |
|
Min. |
Max. |
| Age |
13 Years (Completed) |
45 Years(Near Birthday) |
| Policy Term |
25 Years |
| Premium Payment Term |
20 Years |
| Basic Sum Assured |
Rs.1 Lac |
No Limit |
| Maximum Maturity Age |
70 Years Completed |
