Life Insurance Corporation of India (LIC) has launched many policies according to the needs of many people.
One of these is the ‘New Children’s Money Back Plan’ This policy has been designed keeping children in mind. Also Read: LIC: Invest in this government scheme, you will get 10 thousand pension every month
New Delhi. Life Insurance Corporation of India ( LIC ) , the country’s largest life insurance company , offers many policies keeping in mind the convenience of the customers. Many benefits are given to the customers by investing in the policy of this company. In today’s time, somewhere in the center of the financial planning of the parents, their children are also involved. Also Read: Multiple Credit Card: Don’t be careless, use it smartly
Many people also invest somewhere for children’s education, marriage and other expenses. Life Insurance Corporation of India also has a similar plan, which has been designed keeping in mind the needs of children. We are talking about LIC’s New Children’s Money Back Plan ‘ Of. Also Read: Big News Ujjwala Yojana 2.0 : This is how you will get free LPG connection, here is the whole
Let us know the special things of this policy…
>> The minimum age to take this insurance is 0 years.
>> The maximum age to take insurance is 12 years.
>> Its minimum Sum Assured is Rs.10,000.
>> There is no limit on the maximum sum insured.
>> Premium Waiver Benefit Rider Option also available.
Maturity Period: The total tenure of LIC’s New Children Money Back plan is 25 years.
Money Back Installment: Under this plan, LIC pays 20% of the Basic Sum Assured on the child’s age of 18 years, 20 years and 22 years. Also Read: PF Account Holders: 1 lakh will be withdrawn from PF account without documents, this facility of EPFO starts
Remaining 40 percent of the amount will be paid on the completion of 25 years of the policyholder. In addition, all outstanding bonuses will be paid. Also Read: LIC Saral Pension Yojana: LIC’s great plan for retirement, pension will be available for life by lump sum investment
Maturity Benefit: At the time of maturity of the policy (if the Life Assured does not die during the policy term), the policyholder will get the remaining 40 percent of the Sum Assured along with bonus. Also Read: Electricity Amendment Bill: Electricity workers strike, Madhya Pradesh may drown in darkness
Death Benefit: In case of death of the policyholder during the policy term, Sum Assured is paid in addition to vested Simple Reversionary Bonuses and Final Additional Bonus. The death benefit shall not be less than 105 per cent of the total premiums paid.
