LIC CHILDREN MONEY BACK PLAN
USPs Of Table No. 932
- 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
| MINIMUM | MAXIMUM | |
| Age | 0 (LBD) | 12(LBD) |
| Basic Sum Assured | 1,00,000 | No Limit |
| Policy Term /PPT | (25-Age At entry) Years | |
| Maturity Age | 25 Years (LBD) |
Payment of Money Back in LIC CHILDREN MONEY BACK PLAN
| Age of child when money back is payable | % of Sum Assured |
| 18 years | 20% |
| 20 years | 20% |
| 22 years | 20% |
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
Get Quote for this Plan
People who saw LIC Children money back plan also visited following Child Plan schemes.
