ABOUT
LIC's New Children’s Money Back Plan is a insurance cum investment plan which can be used for securing the financial needs of a child as they turn 25 years old. LIC's performance determines whether it is eligible for bonus under this participating plan. This plan is specially designed for children's education and career. For eg:- If you plan for Rs 10 lacs education fund, your child will get Rs 2 lacs at the age of 18 + Rs 2 lacs at the age of 20 + Rs 2 lacs at the age of 22 + Maturity at the age of 25 years Rs 20,00,000.
- ELIGIBILITY 0 to 12 years of age
- MIN SUM ASSURED 1 lac, upto no limit
- POLICY TERM 25 years minus age
- PREMIUM WAIVER RIDER Optional at cost
- Rebate under Income Tac Benefit u/s 80C and TAX FREE returns u/s 10 (10 D)
Due to the rising cost of education, this policy plan is crucial, as children cannot sacrifice their education due to lack of funds. Be prepared for it and plan it now with LIC's Children's Money Back Plan