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Life Insurance Corporation is the largest insurance company within India under the supervision that of India’s government. India. Insurance is a contract which promises to pay a certain amount to the insured (or nominee) should the event occur of the deed which is insured against. LIC offers a broad range of policies that cover a broad spectrum of periods and groups. The concept of life insurance for India was introduced over 100 years ago. LIC was the primary policy maker for more than 100 years. Every age group can create decisions, however the elderly and children enjoy the greatest advantages.
Children Policies:
The policies for children provided by LIC are among the best when compared with other insurance company. The policies are flexible, and you can customize them to meet your specific needs. Each policy has a similar design. It is possible to start the policy when your child is at the age of 12 and then you can select the maturity age. The age range is between 18 and 25 years old, depending on the career plan of your child. Presently, LIC offers two plans for young children.
The New Children’s Money Back Plan:
The New Children’s Money Back Plan is a Participating, Non-linked Individual, Life Insurance Money back program. It is accompanied by a text children grow up extremely quickly. The plan provides the three Death, Survival and Maturity advantages.
The Death benefits comprise the sum payable in the event of an unexpected death. Survival benefits permit withdrawals on a regular basis and maturity benefits comprise the entire policy amount , along with maturity benefits. The benefits of survival allow this plan to be used for wedding, education, as well as other things. The survival benefit is the payment of a fixed percentage each anniversary date of your plan. In addition, you receive contribution profits that the LIC determined for the current quarter. You can select from a variety of options for death and survival benefits. This makes it the the best insurance for children with the lic.
You can make installments monthly quarterly, quarterly, half-yearly or even annually. The minimum amount is 10,00000 rupees. There is no limit to the amount you can pay.
The Jeevan Tarun Plan:
The Jeevan Tarun plan is a unique plan to cover your child’s education expenses. It offers the benefits offered by the above plan, however it offers different prices and choices for each benefit. The minimum age for maturity is 20 years old, and the options for survivorship benefits tend to be more focused on education.
The plan offers four choices for longevity and survival benefits which makes it more flexible. You can choose the amount of maturity and survival benefits. There are options for survival: null five percent, 5%, 10 percent, and 15 percent per year. The options for maturity benefits include 100 percent, 75% 50 %, and 25 percent, according to. This is what means that this policy is the most appropriate option to protect your kid’s future.
Both plans are the the most effective child insurance plans that is offered by LIC. LIC is among the oldest and most reliable policymakers in the United States. Make sure you read the conditions and terms thoroughly. Consider extra time and guidance on how to choose your options for the respective advantages. These choices cannot be modified at any point. Selecting the maturity year is crucial. Beware of fraud. The policy-making and insurance industry is vulnerable to a large amount of fraud. Select the Lic child insurance plan that best suits your needs and ensure your child’s future.
