This policy of LIC can be invested for children up to 12 years of age. It helps in fulfilling their higher studies or other needs.
LIC’s New Children’s Money Back Policy
If you want to shape the future of the child and are looking for a scheme that will give good returns when your girl child grows up. In such a situation, LIC’s New Children’s Money Back Scheme can prove useful. You can take this plan at the time of childbirth. It can be taken up to a maximum age of 12 years. The maturity period of this policy is 25 years. In such a situation, you can make your child a millionaire in a short time with small savings.
LIC’s New Children’s Money Back Scheme is the best scheme for higher studies of children. Because by the time the children are ready to take professional courses, you will have a good fund. The minimum sum assured is Rs.1,00,00 while its maximum amount is not limited.
Benefits of New Children’s Money Back Policy
1. Under this plan, LIC pays 20-20% of the basic sum insured when the child is 18 years, 20 years and 22 years old.
2. The remaining 40 percent of the amount under the plan will be paid on completion of 25 years of the policy holder.
3. There is also the benefit of bonus. If the insured dies during the policy, in addition to the sum assured, the simple simple reversionary bonus and the last additional bonus are given.
5. If the policy holder survives, he gets the bonus along with the total payment at maturity.
6. If you save even 150 rupees daily under the plan, then you can get up to 19 lakhs. These calculations are subject to change according to the amount and policy rules.
How can you get a policy
To invest in LIC’s New Children’s Money Back Policy, the applicant will have to visit the official website of LIC. Download the form from here and fill it. You can invest in the plan either by going to the branch or through an agent. The child and guardian should have Aadhaar card, address proof, passport site photo etc. at the time of application.
read this also :
HDFC Mobile ATM: Now no need to go to ATM to withdraw money, special facility is available at these places