LIC’s New Children’s Money Back Plan: Eligibility, Premium, Sum Assured And Other Key DetailsPosted on: August 3, 2019, by : Anindita Ghosh
LIC’s Children Money Back Plan: Life Insurance Corp provides a term of 25 years under this policy
Life Insurance Corporation (LIC) of India, the country’s largest life insurance company, is offering an insurance-cum-investment policy for children. The New Children’s Money Back Plan is designed to meet the educational, marriage and other needs of growing children through survival benefits, according to LIC’s website – licindia.in. In addition, it provides for the risk cover on the life of child during the policy term and a slew of survival benefits on surviving to the end of the specified duration, according to the LIC website. LIC offers a range of term insurance, pension plan, endowment, unit-linked, health insurance and money back products. (Also Read: LIC Money Back Plan-20 Years: Premium, Money Back, Other Details Here)
Here are details of the premium and the sum assured applicable to the New Children’s Money Back Plan as well as the benefits covered under this LIC policy:
LIC’s New Children’s Money Back Plan can be purchased by the parent or grandparent for a child aged up to 12 years for a minimum sum assured of Rs. 1 lakh, and in multiples of Rs. 10,000 thereof, according to the LIC website. (Also Read: LIC Jeevan Lakshya Plan: Premium, Maturity Benefits, Other Details Here)
LIC’s New Children’s Money Back Plan does not has any limit for the maximum sum assured for the policy.