Understand Everything About LIC's Girl Child Policy.
Published On Feb 11, 2022, Updated On Sep 18, 2023
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The Life Corporation of India (LIC) has developed a Money Back plan for children. The LIC Child plan is a participation plan that provides guaranteed payouts known as survival benefits for the life of the policy to assist a growing child in meeting their educational, marriage, and other financial obligations. This LIC plan covers life insurance for the child for the lifetime of the policy, as well as survivor benefits to help meet the financial needs of a growing child at different stages of life. This programme is open to parents and grandparents with children ranging in age from 30 days to 12 years.
Best Girl Child Insurance Plans from LIC
To ensure your child's financial security, LIC offers the following plans:
The LIC's New Money-Back Plan for Children
It's a standard non-linked Money Back plan with a participation requirement.
This plan is designed to provide parents with benefits that will assist them in saving and investing for their children's future. It provides perks that allow you to put money aside for your child's wedding or education. This plan also includes risk coverage, providing a stress-free and safe journey. If the life assured dies inadvertently before the start of the risk period, the nominee will receive a total of return of premiums, rider premium, and any applicable taxes. If the nominee dies before the end of the risk period, the money covered will be paid out, together with any further incentives due.
The basic money assured is given at a rate of 20% whenever the life assured survives the years of 18, 20, and 22. If the life insured lives to the maturity age of the policy, they will receive the SA as well as any other incentives that may be available. The basic money assured is given at a rate of 20% whenever the life assured survives the years of 18, 20, and 22. If the life insured lives to the maturity age of the policy, they will receive the SA as well as any other incentives that may be available.
LIC Jeevan Tarun
It is a participation-based, non-linked plan with a low premium cost. It combines the advantages of a life insurance policy and a savings account into a single bundle. It was designed specifically to meet a child's financial needs. A parent might invest in this plan if they want to financially aid their child with schooling or other life goals. If a parent dies before the risk develops, the beneficiary receives the death benefit, which includes no additional premiums or incentives. If it occurs beyond the deadline, the beneficiary is entitled to the entire amount covered, as well as any reversionary incentives.It's estimated that the death benefit will be at least 125 percent higher than the regular payout. If the Child reaches the legal age of 20, they will be entitled to a portion of the money covered, which will be paid out over the next four policy anniversaries as part of the survival benefit. If the life insured lives to the policy's maturity age, they will receive a maturity benefit in addition to any other benefits that may be available.
Kanyadan Policy of the LIC
Your daughter is covered by the LIC Kanyadan policy. Unlike other policies, this one offers a safety net for your daughter's potential marriage and college costs. The Kanyadan Policy was created by the Life Insurance Corporation of India (LIC) to aid parents financially. The Kanyadan Policy protects you against danger while also allowing you to save money till the term ends. As a result, it's an excellent plan for parents, with extremely inexpensive premiums and a large number of guaranteed options. To learn more about the LIC Kanyadan Policy, keep reading this page.
LIC is a financial services firm that offers three types of kid insurance for girls in order to assist them in saving and investing for their child's future. These are investments that are both risk-free and profitable. Child. In this case, children's insurance coverage may be useful. These agreements ensure the creation of a financial corpus regardless of whether the parent is alive or not. The LIC Child Plan is one such Child insurance plan that may assist guarantee 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.