LIC CHILDREN MONEY BACK PLAN

LIC CHILDREN MONEY BACK PLAN
LIC CHILDREN MONEY BACK PLAN

  USPs Of Table No. 832

  • Suitable for new born baby
  • Child is insured in LIC Children Money Back Plan
  • Provision for Education & Marriage
  • Premium Waiver Benefit in case of death of Proposer (Father/Mother)
  • Tax Benefit U/S 80(C) & U/S 10.10D


Eligibility Conditions & Restriction

MINIMUMMAXIMUM
Age0 (LBD)12(LBD)
Basic Sum Assured1,00,000No Limit
Policy Term /PPT(25-Age At entry) Years
Maturity Age25 Years (LBD)

Payment of Money Back in LIC CHILDREN MONEY BACK PLAN

Age of child when money back is payable% of Sum Assured
18 years20%
20 years20%
22 years20%

Maturity Benefit : The maturity in LIC Children money back plan is payable when the child is turned 25years of age. The Maturity will be 40% of the sum assured + Bonus Payable + Final Additional Bonus.

Death Benefit: If premium waiver benefit is opted by the proposer in LIC CHILDREN MONEY BACK PLAN, and the proposer dies at point of time during the term of the policy, future premium will be waived. In case the child dies during the term of the policy the sum assured along with the bonus accrued will be payable to the proposer if the risk cover of the child already started.

Tax Benefits : Premium paid in this plan is tax free under section 80 (C) and maturity is also tax free under section 10.10D

Loan : Loan is payable in LIC CHILDREN MONEY BACK PLAN after 3 years.

Surrender : Surrender is applicable in LIC CHILDREN MONEY BACK PLAN after 3 years.

ILLUSTRATION OF LIC CHILDREN MONEY BACK PLAN

LIC CHILDREN MONEY BACK PLAN

Get Quote for this Plan

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