NEW CHILDREN MONEY BACK PLAN 932

LIC’s New Children’s Money Back Plan is a life assurance money back, non-linked, participating plan. This plan is perfect to meet the educational, marriage and other needs of growing children through Survival Benefits.

This plan provides risk cover on the life of child during the policy term. This plan provides survival benefit as money back at regular intervals between 18 to 25 years of the child.
This plan can be purchased by any of the parent or grand parent for a child aged between 0 to 12 years.


Key Features of LIC’s New Children’s Money Back Plan

• This is a non-linked child money back plan
• Perfect Plan to make financial provision for education, marriage and other needs of children
• Money back in the form of guaranteed survival benefit to the child starts from 18 years to 25 years of age
• On completion of Policy term insured of the policy gets full bonus, FAB if any and the sum assured on maturity is equivalent to the 40 per cent of the basic sum assured
• Premium waiver benefit is available in case of unfortunate death of proposer
• The policy term will be based on the maturity age (25 years) minus the entry age
• The minimum sum assured is Rs 100000 with no maximum limit
• This policy can be taken between 0 years to 12 years of age
• The policy offers all premium paying mode i.e. monthly, ecs, quarterly, half yearly and yearly
• There is a Loan and Surrender facility available under this plan
• Premium paid under this policy gets tax benefits under IT act

 


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