Global Courant
Introduction:
Life Insurance Corporation is the largest policy maker in India under the control of the Government of India. Insurance is a contract that promises the payment of an amount to the person (or nominee) in the event that the insured deed occurs. LIC offers a wide range of policies with a wide range of intervals and customer groups. Life insurance in India started over a hundred years ago. LIC has been the policy maker for over a hundred years. All age groups can make policy, but the elderly and children benefit the most from this.
Children’s Policy:
LIC’s children’s policies are by far the best compared to any other insurance company. These policies are versatile and you can tailor them to your requirements. All these policies have a similar layout. You can start the policy before your child turns 12 and you can choose the adult age yourself. The range starts from 18-25 depending on your child’s career plan. Currently, LIC offers two plans for children.
The new money-back plan for children:
The New Kids Cash Back Plan is an unlinked, participating, individual life insurance cash back plan. It comes with the caption children grow up very quickly. This plan offers all three Death, Survival, and Maturity benefits.
The death benefit includes an amount in the event of premature death. Survivor benefits include withdrawals at regular intervals while term benefits include the total policy amount along with the term benefits. The survival benefits make this plan suitable for your child’s education, marriage, and other activities. The survivor benefit includes a fixed payment of 20% on each anniversary of the plan. You will also get the participation gains that the LIC has set for the quarter. You will have the chance to choose from a variety of survivor and death benefits. This makes it best child insurance plan in lic.
You can pay monthly, quarterly, semi-annually or annually in installments. The minimum amount is 1,00,000 rupees and there is no limit on the maximum.
The Jeevan Tarun Plan:
The Jeevan Tarun plan is an exclusive plan for your child’s educational expenses. This plan gives you all four benefits of the plan above, but with different rates and options for each benefit. The minimum adult age is 20 and survivor benefit options are more focused on the education perspective.
This plan gives you four options each for the survival and maturity benefits, making it more versatile. You can choose the percentage of survivorship and maturity benefits. The chances of survival are nil, 5%, 10% and 15% per year. Likewise, options for maturity benefits are 100%, 75%, 50%, and 25%, respectively. This here makes this policy the best lic policy for your child’s future.
Life Insurance Corporation: An Overview of Children’s Policies
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