LIC NEW CHILDREN’S MONEY BACK PLAN: Life Insurance Corporation of India is the most trusted company in the country. Millions of people have invested in LIC. Being invested by the government, your investment in LIC is completely safe. Investing in LIC (LIC Policy) gives customers many advantages in the future. One such scheme is New Children’s Money Back. In this scheme, you can get 19 lakh rupees in exchange of 150 rupees investment plan every day. LIC New Children’s Money Back Plan is a non linked money back plan, specially designed for children.
Eligible for scheme
One can invest in LIC New Children’s Money Back Scheme right after birth. That is, the minimum age for application is 0 years. At the same time, the maximum age for taking insurance is 12 years. A minimum sum assured of Rs.1,00,00 can be invested in the scheme. At the same time, there is no limit on the maximum sum insured. Apart from this, the Premium Waver Benefit Rider option will also be available.
What will be the benefit?
In LIC New Children’s Money Back Scheme, the policyholder will get 20% of the sum assured at the age of 18, 20 and 22 years. At the time of policy maturity (if the insured does not die during the policy term) the policyholder will get the remaining 40% of the sum assured with a bonus. At the same time, in the event of the death of the policyholder during the policy term, in addition to the sum assured, the simple reversionary bonus and the last additional bonus will be given. Death benefit shall not be less than 105% of the total premium payment.