Know About LIC Policy For Girl Child In India

The LIC Girl Child Policy was designed by the Life Insurance Corporation of India (LIC) to help parents financially. The Girl Child LIC Policy safeguards you while allowing you to save till the conclusion of the term. As a result, with exceptionally low premiums and big amount assured options, it is a wonderful plan for parents. To discover more about the LIC Girl Child Policy, keep reading this page. The LIC policy protects your daughter. Unlike other policies, this one offers a safety net for your daughter's potential marriage and college costs.

Best Girl Child Insurance Plans from LIC

LIC offers the following plans to safeguard your child's financial security:

1. The LIC's New Children's Savings Plan

It's a typical non-linked Money Back scheme that requires your participation. This strategy aims to provide parents with benefits that will help them save and invest for their children. It offers benefits that enable you to put money aside for your child's wedding or schooling. This plan also offers risk coverage, so you may travel without anxiety. The nominee will receive a sum equal to the return of premiums, rider premium, and any applicable taxes if the life guaranteed dies unintentionally before the commencement of the risk period.

The basic money provided is given at a 20% rate if the life promised survives the years of 18, 20, and 22. If the life insured lives to the policy's maturity age, they will get the SA as well as any additional benefits that may be available. The basic money provided is given at a 20% rate if the life promised survives the years of 18, 20, and 22. If the life insured lives to the policy's maturity age, they will get the SA as well as any additional benefits that may be available.

2. LIC Jeevan Tarun

It is a non-linked, participation-based plan with a low premium cost. It combines the benefits of both a life insurance policy and a savings account into one convenient package. It was created specifically to meet a child's financial needs. If a parent wants to financially assist their child with schooling or other life goals, they may invest in this plan. If a parent dies before the risk arises, the beneficiary is entitled to the death benefit, which does not contain any additional premiums or incentives. If it happens after the time has passed, the receiver is entitled to the entire sum covered, as well as any reversionary incentives. The death benefit is expected to be at least 125 percent higher than the standard payout. If the child reaches the legal age of 20, they will receive a portion of the money protected by the survival benefit, which will be paid out over the next four policy anniversaries. If the life insured lives to the maturity age of the policy, they will get a maturity benefit as well as any additional benefits that may be available.

3. LIC Kanyadan Policy 

The LIC Kanyadan insurance covers your daughter. This policy, unlike others, provides a safety net for your daughter's future marriage and education expenses. The Life Insurance Corporation of India (LIC) devised the Kanyadan Policy to assist parents financially. The Kanyadan Policy safeguards you from harm while also allowing you to preserve money till the end of the term. As a result, with extremely low premiums and a huge variety of guaranteed options, it is a wonderful plan for parents.

Conclusion

LIC is a financial services company that offers three types of kid insurance to help mothers save and invest for their children's future. These are both risk-free and profitable investments. Child. Children's insurance coverage could be beneficial in this situation. Regardless of whether the parent is alive or not, these agreements secure the development of a financial corpus. One such kid insurance plan is the LIC Child Plan, which can help secure your child's financial future.

Also read- Basic Terms And Conditions Of A Child Life Insurance Plan

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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.