The Life Insurance Corporation of India (LIC) offers several plans for insurance and investment purposes. Today, we will discuss the New Children’s Money Back Policy by LIC. This policy allows you to invest in your child’s future and ensure their financial security. Let’s delve into the advantages and other relevant details of this policy.
LIC New Children Money Back Policy: As children grow older, the expenses for their education, health, and other needs also increase. Therefore, choosing the right investment plan is crucial to secure and ensure a bright future for them. The Life Insurance Corporation of India (LIC), the largest government-owned insurance company in the country, offers various insurance policies as well as investment plans. Today, we will introduce you to LIC’s New Children’s Money Back Policy. Let’s explore the benefits and additional details of this policy.
Eligibility for LIC New Children Moneyback Policy
LIC’s New Children’s Money Back Policy allows investments by the child’s parents or grandparents. You can start investing in this policy from the birth of the child up to a maximum age of 12 years. This insurance-cum-investment plan provides various benefits for the child’s secure future. Here are the benefits of this plan. While there is no maximum investment limit, the policy requires a minimum starting investment of ₹24,000.
Benefits of LIC New Children Moneyback Policy
Investing in LIC New Children Moneyback Policy gives you these benefits:
Survival Benefit: If you invest in LIC’s New Children Moneyback Policy, then 20% of the assured sum can be received by the policyholder on completion of the policy anniversary or when the child is 17, 20, 22 years old.
Maturity Benefit: When the child is 25 years old, along with additional bonus, maturity assured sum is also available, which is 40% of the basic assured sum.
Death Benefit: If the policyholder dies due to an accident, then the assured sum and bonus are also paid.
Inclusion in Profit: As long as the policy is in force, it also has a share in the profit of LIC and the policyholder also receives normal reversionary bonuses. It has to be kept in mind here that the final additional bonus will not be paid in a paid-up policy.
