new Delhi. LIC’s IPO will come in a few months. You will care about it, but if you want to secure your newborn’s future now, you can invest in LIC’s ‘New Children’s Money Back Plan’. In a few years, your child will become a millionaire, even before he gets a job. After that he will not have to worry much about his higher studies and starting his own business. Neither you Let us also tell you about this plan…
Feature of the policy
– The minimum age for taking this policy is 0 years and maximum age is 12 years.
– The minimum amount of the policy is 10 thousand rupees and there is no limit on the maximum amount.
– There is also a Premium Waver Benefit rider-option in the policy.
– The total term of LIC’s New Children’s Money Back Plan is 25 years.
This is how payment is done
According to this plan, 20-20 percent of the basic sum insured is paid on completion of 18 years, 20 years and 22 years of LIC child. The remaining 40% will be paid after the policy holder completes 25 years. Also, all types of outstanding bonuses will be paid. If the policy holder dies before the policy matures, the underlying simple reversionary bonus and the last additional bonus in addition to the sum assured will be given. Death benefit shall not be less than 105% of the total premium payment.