You child will be the single most significant element in your existence. The world is not possible with out your children. It is not a stretch to assert that when your child enters your life, that child is inevitably yours. The protection of your child to ensure that they are secure both mentally and financially is the top prioritization. This can be accomplished by using the Child Plan for LIC.
The LIC Child Plan is a life insurance policy designed to meet the requirements for your baby. It ensures the future of your baby long after you’re no longer a part of their lives. This LIC Child Plan secures the financial security of your child, as well as ensuring that the parents of a better future that their kid. You child will be the star of your eyes and deserves the very best of life. The best children’s LIC plan is a bit complicated due to the various policies offered. The top LIC child plans include:
1.NEW Children’s Money Back PlanThis LIC Plan for children is the most beneficial LIC policy for the new infant girls. It’s designed to address the different financial requirements of the child even when the parent isn’t present. It is designed to meet the financial requirements during the most crucial times for your child’s life, specifically an infant girl who is born:
- Life Cover and
- Additional needs arise as the child develops.
This is accomplished through the many advantages that the policy provides. They include:
*LIC PREMIUM WAIVER
It is the LIC Premium Waiver the most effective feature to allow an exemption from premiums as the name implies in the event of the death of the person who proposed. It does not impose any financial burden for the child.
When the life assured child reaches age of 18-20 and 22 years old, 20 % of the initial sum assured will be paid when the policy is in force, after the life assured has lived out the duration that is the LIC policy.
2.LIC JEEVAN TARUN POLICY
Every parent wants their child’s education and academic future to be successful. The LIC Jeevan-Tarun Policy is the ideal option to ensure a high-quality educational experience for your kid. It’s included on the top list of policies for newborn baby girls. The policy should ensure that your child will not need to rely on anyone to ensure their future. It can be purchased from at the time of birth until the child reaches 12 years of age. It comes with many benefits in addition:
The proposer may make arrangements for that the insured to receive annually, anytime between the ages of 20 and 24 and then the full amount at the time that the policy is due to mature. The percentage of the payments could also be fixed and set by the proposer.
The maturity benefit ensures that the life insured is provided with a maturity benefit based on the percentage of the amount that is assured is decided earlier.