new Delhi. Parents have all the responsibilities from the education of children to their marriage. In order to avoid any financial problems, they start saving from the beginning. If you also want to protect the future of your children, then you can invest in the New Children’s Money Back Plan of LIC Policy. In this, funds are collected on time from the higher education of the child to other needs. You can add a huge amount of up to 19 lakhs by saving just Rs 150 daily.
Policy is the best for higher studies
LIC’s New Children’s Money Back Scheme is an excellent option to reduce the expenditure on children’s higher education. With this, children will not have the money to fulfill their dreams. The minimum age for application in the scheme is 0 years, while the maximum age limit is 12 years. The minimum sum assured is Rs.1,00,00 while its maximum amount is not limited.
Get bonus with insurance
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 remaining 40% of the sum assured gets. Apart from this, they will also get additional bonus. If the insured dies during the policy, then the underlying simple reversionary bonus and the last additional bonus in addition to the sum assured will be given.
Policy making process
For investment in the scheme, the applicant should have Aadhar card / PAN card and ration card for address proof or photocopy of electricity bill etc. Apart from this, medical documents of the insured will also be required. After completing all these formalities, fill the form attached to the scheme from LIC branch. If the child is under age or the amount of the policy is more, then the lease can also take a medical test.