New Children’s Money Back Plan

New Children’s Money Back Plan

"In case you are not there to hold him make sure you leave a safety net for him"

Benefits:

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 2 years of the policy

Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years

How does this policy work ?

Eligibility Criteria Minimum Maximum
Age 0 Years (Last Birthday) 12 Years (Near Birthday)
Policy Term 25 - Age at Entry 25 - Age at Entry
Premium Payment Term 25 - Age at Entry 25 - Age at Entry
Basic Sum Assured Rs.1 Lac No Limit
Maximum Maturity Age 25 Years 25 Years
Rider LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB)