• LIC Cda Endowment Vesting At 18 Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    LIC CDA Endowment Vesting At 18 Plan

    The CDA Endowment Vesting At 18 Plan from the Life Insurance Corporation of India (LIC) is a “with-profit”, endowment, life insurance plan. This plan helps parents or legal guardians to provide a risk cover to their children. The risk cover is provided for the period following the deferment date. This plan also provides a maturity benefit if the child survives till completion of the policy tenure. The life assured/nominee can claim tax benefits, as per prevailing laws of the Income Tax Act, 1961.

    Sum Assured and Premium Range - What you get and what it costs?

    Sum Assured

    The sum assured is the minimum amount of money that the insurer guarantees to pay to the policyholder/nominee, before the addition of any bonuses. For this policy, the parent/legal guardian will have to choose the sum assured amount at the time of purchasing the policy. When opting for the sum assured, make sure to consider the needs of the child/family, liabilities, inflation, etc. to arrive at an optimum sum assured amount.


    The premium is an amount of money that one pays to the insurer in exchange for the risk cover provided by the policy. For the CDA Endowment Vesting At 18 Plan, premium payments can be waived off upon the death of the proposer, provided the proposer has opted for this benefit at the time of purchasing the policy.

    Deferment Date Policy anniversary on/after the child/ life assured attaining the age of 18 years
    Premium Payment Mode
    • Annual
    • Bi-Annual
    • Quarterly
    • Monthly
    Premium Range Will vary on the basis of the policy tenure, age at entry, sum assured, etc.

    *Premiums vary based on age, location, plan term, GST, and other factors.

    Plan Coverage - What the LIC CDA Endowment Vesting At 18 Plan covers?

    Death Benefit If the policyholder passes away after the date of deferment, the sum assured amount along with vested bonuses will be paid to the nominee. If the policyholder’s death occurs before the date of deferment, all premiums paid till date will be returned.
    Maturity Benefit At the completion of the policy tenure, the sum assured amount along with bonuses will be paid to the policyholder.

    Riders/Add-On Plans – Additional coverage under the LIC CDA Endowment Vesting At 18 Plan

    The insurer offers add-ons/riders that can be purchased along with this policy for an enhanced protection. The proposer will have to pay an additional premium to avail these benefits.

    Other Key Features

    Surrender Value The policyholder can choose to surrender the policy provided the policy has been active for at least 3 years. The insurer will pay the policyholder the Guaranteed Surrender Value or the Special Surrender Value, based on whichever is the higher of the two.
    Bonuses Since this is a “with-profit” plan, the insurer will declare the Simple Reversionary Bonus for each financial year. Post declaration, the bonus will become a part of the payout provided by the policy.

    Tax Benefits – How you can save with the LIC CDA Endowment Vesting At 18 Plan?

    The policyholder/proposer can claim tax deductions for premiums paid during a given year and benefits received, under the prevailing laws of the Income Tax Act, 1961. However, you will have to make sure to consult a tax advisor, since tax laws can be modified by the government without prior notice.

    Other Benefits – How you can save with the LIC CDA Endowment Vesting At 18 Plan?

    • Customer Service: LIC has a range of customer service channels through which customers can contact them. On the insurer’s website, you can view the contact number, email ID, and address of an LIC branch in your city. You can also use the insurer’s SMS-based helpline service if the need arises.
    • Online Loan Repayment: Several insurance policies provide policyholders the option to avail a loan against the policy. Thus, the insurer provides customers the option to pay their loan amount/interest through the website in an effortless manner. Repayment can be done WITH OR without logging-in. Further, customers can also request for a loan through the Customer Portal on the LIC website.
    • Policy Status: Registered users can access important information about their policy, such as the status of the policy, premium due dates, loan information, etc. on the LIC website.
    • Range of Plans: The insurer has a strong and diverse product portfolio, with a range of retail and group insurance plans being offered. In addition, LIC also offers health insurance solutions to policyholders.

    Why you should buy the CDA Endowment Vesting At 18 Plan from Life Insurance Corporation of India (LIC)?

    Every parent wishes to secure the lives of their children and help them realise their dreams. With the CDA Endowment Vesting At 18 Plan, not only are you purchasing a risk cover for your child, but you are also providing them the means to pay for any financial needs that might arise in later years.

    LIC, which was nationalised in the year 1956, is currently one of the most preferred life insurance companies in the country. The insurer, today, has a pan-India reach with around 2,048 computerised branches, 8 zonal offices, 113 divisional offices, and 1381 satellite offices. Since its nationalisation, the company has crossed several milestones in the life insurance sector. For FY15-16, the insurer reported a claim settlement ratio of 98.33% and a grievances resolved ratio of 100%.

    Note: This plan has been withdrawn by LIC.

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