Life Insurance | LIC Children Plan

Best Life Insurance Policy For A New Born Baby Girl, LIC Children Plan

Life Insurance

Today, the cost of education right from early childhood is rising speedily. Life Insurance policies can be a good way for parents to deal with this expenditure. 

For a newborn baby girl, Life Insurance Children's plans can prove to be the best fit.

LIC Children Plan 

1. New Children's Money Back Plan

This plan helps you to fulfill a variety of needs of children at different stages. The basic eligibility age for this plan is a minimum of 0 years (time of birth) and a maximum of 12 years. 

The total age at maturity is 25 years. This plan is an individual policy plan. 

Maturity benefits will be provided which would be equal to the assured sum and other applicable bonuses.

The premium would be paid quarterly, monthly, annually or half-yearly

The minimum sum assured is Rs. 1, 00,000

This policy covers maturity benefits, death benefits, and survival benefits.

In this plan, the premium amount is paid at regular intervals. The child receives 20% of the total sum at 18 years of age, 20% each year again at 20 and 22 years of age, and the remaining 40% is provided at 25 years of age.

Life Insurance

Life Insurance

2. Jeevan Tarun Plan

This plan can be a good option for children of 2 years or less. This plan has a limited pay option. 

You need to pay the premium until the child attains age 20 and the policy is continued until the child is 25 years of age. It is the best Life Insurance policy for newborn baby girls.

The covering of the risk budget can be started when the child attains 8 years or 2 years from the starting date of the plan or policy, whichever comes first.

The premium is to be paid until your child reaches 20 years and you can get the payout after 20 years of age till age 25.

The rest of the sum is given as maturity benefit when the policy terminates. There is also a death benefit of the sum which is 10 times the annual premium or 125% of the assured sum. 

You get the one which is the higher and the minimum amount of 105% of the total amount of premium is paid till the date. The minimum sum assured is Rs. 75,000.

Life Insurance

Best Child Education Plan

3. Jeevan Umang Plan

This plan gives insurance coverage for a lifetime. This plan facilitates regular payouts from the last payment of premiums to survival. 

If the customer dies within the period of the policy, a fixed amount of money is to be given.

The survival benefit is paid each year, which is 8% of the assured sum.

Other benefits like rider benefit, death benefit, maturity benefit, and tax benefits are available. The minimum age for entry is 90 days.

The terms for paying premium are 30, 25, 20, and 15 years. The maturity age is 100 years with the birthday which is nearest. The minimum assured sum is Rs 2,00,000.

Premium payment is via NACH or SSS only is paid yearly, quarterly, half-yearly, and monthly.

You can choose the LIC child plan which best fits your needs, preferences, and budget from the different LIC Children Plans.

 

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