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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) |
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