LIC This Policy Advantage & Rs 150 tax investment will get 19 lakh LIC is the most trusted insurance company in the country. Consumers are greatly benefited by investing in this government-run company policy. In this age of rising inflation, it is imperative for each of us to save a certain percentage of our hard earned money and invest it in a policy. Everyone dreams of a better future for their children. The Life Insurance Corporation of India has a similar scheme which has been designed keeping in view the needs of the children. We are talking about LIC’s LIC NEW CHILDREN’S MONEY BACK PLAN
Here are the highlights of this policy
- The minimum age for taking out this insurance is 0 years
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- The maximum age for taking insurance is 12 years
- The minimum sum insured is Rs. 1,00,00.
- There is no limit to the maximum sum insured.
- Premium Weaver Benefit Rider- Option available
Money back installment
- The policyholder will get 20% of the sum assured on completion of 18, 20 and 22 years of age.
Maturity Benefit :
- At the time of policy maturity (in case the insured does not die during the term of the policy) the policyholder will get an increased portion of the sum insured with a bonus of 40 per cent
Death Benefit :
- In case of death of the policyholder at the time of the policy term, in addition to the sum insured, a simple reversionary bonus check and a final maximum bonus are given. Death Benefit shall not be less than 105% of the total premium payment
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