The LIC New Children's Money Back Plan is a participating non-linked money back plan for children. The plan offers a combination of protection and savings, and is suitable for meeting the educational and other needs of children.
The salient features of this plan include:
A lump sum amount is paid at the maturity of the policy, which helps meet the the child's financial needs.
This plan also provides life insurance cover for the child, ensuring that their future is secure even in the event of an untimely death of the parent.
This plan also provides periodic payments at intervals during the policy tenure, offering financial security to meet the regular needs of the child in his/her growing years.
This plan also offers attractive bonuses, additional Rebates, Loyalty Additions along with the Sum Assured at the time of risk commencement.
The Money Back Plan provides a provision of five-yearly Survival Benefits, which is an important attraction of the plan.
The flexibility of plan enables the policyholder to choose the Sum Assured and payment term to match the requirements and financial capabilities of the family.
It also offers a loan facility, allowing the policyholder to borrow from the policy after the completion of three policy years.
The plan also provides flexible premium payment options of yearly, half year, quarterly or monthly payment modes.
In conclusion, the LIC New Children's Money Back Plan provides a great combination of life protection and savings. To know more about the plan, kindly visit https://www.licindia.in/Products/ Individuals/Money-Back-Plan/NEW-CHILDRENS-MONEY-BACK-PLAN-815