Children's Money Back Plan
This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits.
Policy Benefits as per your Savings
Children’s Money Back Plan is Ideal for – Child’s Education & Marriage
Save ₹2000 per Month
- TERM: TILL AGE 25 OF CHILD
- BENEFITS: Rs. 9,84,400/- TAX FREE AT AGE 25
- GET Rs. 92,000/- MONEY BACK AT AGE 18, 20 & 22
- GET Rs. 7,08,400/- AT AGE 25
- GET TOTAL RS. 9,84,400/- TAX FREE AT AGE 25
- SAVE TAX OF Rs. 1,54,220/- OVER 22 YEARS
- SPECIAL FEATURE THIS POLICY HAS A PREMIUM WAIVER BENEFIT, INCASE OF PARENTS DEATH NO PREMIUM TILL AGE 25 OF CHILD.
- IDEAL FOR CHILD’S EDUCATION & MARRIAGE
Save ₹4000 per Month
- TERM: TILL AGE 25 OF CHILD
- BENEFITS: Rs. 20,11,600/- TAX FREE AT AGE 25
- GET Rs. 1,88,000/- MONEY BACK AT AGE 18, 20 & 22
- GET Rs. 14,47,600/- AT AGE 25
- GET TOTAL RS. 20,11,600/- TAX FREE AT AGE 25
- SAVE TAX OF Rs. 3,02,148/- OVER 22 YEARS
- SPECIAL FEATURE THIS POLICY HAS A PREMIUM WAIVER BENEFIT, INCASE OF PARENTS DEATH NO PREMIUM TILL AGE 25 OF CHILD.
- IDEAL FOR CHILD’S EDUCATION & MARRIAGE
Save ₹8000 per Month
- TERM: TILL AGE 25 OF CHILD
- BENEFITS: Rs. 40,01,800/- TAX FREE AT AGE 25
- GET Rs. 3,74,000/- MONEY BACK AT AGE 18, 20 & 22
- GET Rs. 28,79,800/- AT AGE 25
- GET TOTAL RS. 40,01,800/- TAX FREE AT AGE 25
- SAVE TAX OF Rs. 6,04,296/- OVER 22 YEARS
- SPECIAL FEATURE THIS POLICY HAS A PREMIUM WAIVER BENEFIT, INCASE OF PARENTS DEATH NO PREMIUM TILL AGE 25 OF CHILD.
- IDEAL FOR CHILD’S EDUCATION & MARRIAGE
Policy Details
Policy Type: Child Plan
Policy Information:
LIC’s New Children’s Money Back Plan is a participating non-linked money back plan. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations.
Policy Highlights:
- Minimum Basic Sum Assured: 1,00,000/-
- Maximum Basic Sum Assured: No Limit
- Policy Term: 25 – Age at entry of the child
- Minimum Entry Age: 0 Year Last Birthday
- Maximum Entry Age: 12 Year Last Birthday
- Maximum Age at Maturity for Life Assured: 25 years
- Mode of Premium Payment: Yearly, Half-yearly, Quarterly & Monthly
Policy Benefits:
• On Death Before the Date of Commencement of Risk: An amount equal to the total amount of premium’s paid excluding taxes, extra premium and rider premium, if any shall be payable.
• On Death After the Date of Commencement of Risk: “Sum Assured + Vested Bonus + FAB if any.”
• Where ‘S.A. on Death’ is defined as the higher of
i. 10 times of Anualized Premium, OR
ii. 105%of all Premiums paid as on death OR
• The premiums exclude taxes, extra premium and rider premiums.
• On Survival :
If Policy in full force :
• Completion Age 18YRS – 20% OF MSA
• Completion Age 20YRS – 20% OF MSA
• Completion Age 22YRS – 20% OF MSA
• On Maturity at Age 25YRS 40% of MSA + Vested Bonus + FAB if any.
• Surrendered Value: The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.
Loan on Policy:
- Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
Income Tax Benefits:
- Premium paid under this plan is eligible for TAX rebate under section 80c.
- Maturity under this plan is free under sec 10(10D)
Book Policy Online
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Fill the 'Book Policy Online' Form
Fill the ‘Book Policy Online’ form by providing your necessary information & select the policy.
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Form Filling & Document Verification
Our LIC Agent will fill the form for you. Document Verification will be done online. Or you can visit our LIC Branch for document verification.
Pay the First installment of premium
Pay the first instalment of your policy premium to the LIC Bank account. Our Agent will verify your payment and send you the payment receipt.
Your Policy is registered!
After the successful payment, your policy will be registered & you will receive the policy documentation from LIC.
Enjoy the policy benefits!
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