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A child insurance plan is a type of insurance policy that offers a savings cum protection option for children. Child insurance plans, by way of their frequent payouts, are designed to meet any monetary needs that your child might have in the future, even in your absence. The Life Insurance Corporation of India (LIC) offers attractive child insurance plans at affordable rates, to customers.
The New Children’s Money Back Plan from Life Insurance Corporation of India is a non-linked, participating, money-back insurance plan. This plan is created to provide a life cover and also provide survival benefits that will help one’s children meet their needs in the future.
Features and Benefits of LIC’s New Children’s Money Back Plan
Plan Name | Entry Age | Maturity Age | Premium |
LIC’s New Children’s Money Back Plan | 0 – 12 Years | 25 Years | Will vary on the basis of the sum assured amount, the policy tenure, age at entry, and other factors. |
The Jeevan Tarun Plan from Life Insurance Corporation of India (LIC) is a participating, limited premium payment, non-linked insurance plan for children. The plan provides survival benefits and a maturity benefit, which will help the policyholder meet their future financial goals.
Features and Benefits of LIC’s Jeevan Tarun Plan
Plan Name | Entry Age | Maturity Age | Premium |
LIC’s Jeevan Tarun Plan | 90 days – 12 years | 25 years | Will vary as per the sum assured, age at entry, policy term, rebates received, etc. |
With life being so uncertain, it is best to always be prepared for any eventuality. Child insurance plans from LIC come with a range of benefits, such as a death/maturity benefit, survival benefits, option to avail a loan against the policy, etc. Also, with the insurer’s Premium Waiver Benefit Rider, you are at least guaranteed that your children will be provided the means to achieve their goals regardless of what happens in the future.
Coming to the insurer, LIC is one of the most preferred insurance firms in the country. They have decades of experience to their credit and have consistently reported a high claim settlement ratio. The claim settlement ratio for FY15-16 was 98.33%, one of the highest in the country. The insurer has a range of plans on offer, thus ensuring that there is something for every single customer. The insurer also has several customer care channels, including city-based contact numbers, email IDs and an SMS-based helpline service.
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