Know Everything About LIC Policy For Girl Child
Updated On Oct 12, 2023
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The Life Corporation of India (LIC) has created a children's Money Back plan. The LIC Child plan is a participation plan that offers guaranteed payouts known as survival benefits for the term of the policy to help a growing child meet their scholastic, marriage, and other financial commitments. This plan includes life insurance for the Child for the duration of the policy, as well as survival benefits to assist in meeting the financial demands of a growing child at various stages of life. Parents and grandparents with children aged 30 days to 12 years are welcome to participate in this program
Best Girl Child Insurance Plans from LIC
LIC life insurance offers the following plans to safeguard your child's financial security:
LIC's New Children's Money Back Plan
It's a traditional non-linked Money Back scheme that requires participation. This plan is meant to provide parents with benefits that will help them save and build money for their children. It offers benefits that enable you to save money for your child's wedding or schooling. This plan also provides risk coverage, ensuring that you have a safe and stress-free trip. The nominee will receive a total return of premiums, rider premium, and any applicable taxes if the life assured dies inadvertently before the commencement of the risk period.
If the nominee dies before the end of the risk term, the money insured will be paid out, plus any further bonuses that may be due.
Every time the life guaranteed survives the ages of 18, 20, and 22, the basic money assured is paid at a rate of 20%. If the life insured survives to the policy's maturity age, they will get the SA as well as any further incentives that may be offered. Every time the life guaranteed survives the ages of 18, 20, and 22, the basic money assured is paid at a rate of 20%. If the life insured survives to the policy's maturity age, they will get the SA as well as any further incentives that may be offered.
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 in one package. It was created specifically to meet the financial needs of a child. If a parent wishes to financially assist their child with schooling or other life goals, they can invest in this plan.
If a parent passes away before the risk arises, the beneficiary receives the death benefit, which does not contain any additional premiums or incentives. If it happens after the deadline, the beneficiary is entitled to the whole sum covered, plus any reversionary incentives. The death benefit is thought to be at least 125 percent more than the standard payout. If the Child legally reaches the age of 20, they will receive a share of the money insured, which will be paid out over the next four policy anniversaries under the survival benefit. If the life insured lives to the maturity age of the policy, they will receive a maturity benefit as well as any additional benefits that may be offered.
LIC Kanyadan Policy
The LIC Kanyadan policy covers your daughter. This child plan, 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 against harm while also allowing you to preserve money till the end of the term. As a consequence, it is a wonderful plan for parents, with incredibly low premiums and a huge amount of assured alternatives. Continue reading this page to understand more about the LIC Kanyadan Policy.
LIC is a financial services company that provides three types of Child insurance for girls to help them save and build money for their child's future. These are both risk-free and profitable investments. Child. Children's insurance coverage may be advantageous in this instance. These agreements ensure that a financial corpus is created regardless of whether the parent is alive or not. One such Child insurance plan is the LIC Child Plan, which might help secure your child's financial future.
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.