Which LIC Insurance Is Best For A Girl Child in India?
Updated On Sep 18, 2023
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The Girl Child LIC Policy provides you with protection while also letting you to save until the conclusion of the term. As a result, it is a wonderful plan for parents, with incredibly low premiums and huge sum assured possibilities. To discover more about the LIC Girl Child Policy, keep reading this page. The LIC coverage extends to your daughter. Unlike other policies, this one provides a safety net for your daughter's future marriage and college costs.
LIC's Best Girl Child Insurance Plans
LIC offers the following plans to safeguard your child's financial security:
The LIC's New Children's Money-Back Plan
It's a normal non-linked Money Back plan with a requirement to participate. This plan is meant to give parents with benefits that will help them save and invest for the future of their children. It offers benefits that enable you to save money for your child's wedding or school. This plan also covers risk, ensuring a stress-free and secure journey. The nominee will receive a total of return of premiums, rider premium, and any applicable taxes if the life guaranteed dies inadvertently before the commencement of the risk period. If the nominee dies before the end of the risk period, the money covered, as well as any further incentives due, will be paid out.
When the life assured survives the ages of 18, 20, and 22, the basic money assured is supplied at a rate of 20%. If the life insured lives to the policy's maturity age, they will receive the SA as well as any other possible incentives. When the life assured survives the ages of 18, 20, and 22, the basic money assured is supplied at a rate of 20%. If the life insured lives to the policy's maturity age, they will receive the SA as well as any other possible incentives.
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 with a child's financial needs in mind. If a parent wants to financially assist their child with schooling or other life goals, they might 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 beyond the deadline, the beneficiary is entitled to the full sum paid, plus any reversionary incentives. The death benefit is expected to be at least 125 percent greater than the standard payout. If the Child reaches the legal age of 20, they will be entitled to a share of the money protected, which will be paid out as part of the survival benefit over the next four policy anniversaries. If the life insured lives to the maturity age of the policy, they will get a maturity benefit in addition to any other applicable benefits.
The LIC's Kanyadan Policy
The LIC Kanyadan policy covers your daughter. This policy, unlike others, provides a safety net for your daughter's possible marriage and education expenses. The Life Insurance Corporation of India (LIC) devised the Kanyadan Policy to assist parents financially. The Kanyadan Policy protects you from harm while letting you to conserve money until the conclusion of the term. As a result, it's a wonderful plan for parents, with low rates and a wide variety of guaranteed options. 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 to help parents save and invest for their children's future. These are both risk-free and successful 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.
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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.