A child scheme serves as both an insurance as well as an investment. Getting child insurance is a concrete step towards your child’s future and is a must for every parent. Various Child Plans offered by LIC provide various benefits in India. It has been suggested to look at various child insurance plans and then select the best child plan to suit your needs.
The Life Insurance Corporation (LIC) is considered to be one of the most trusted brands in India. The Life Insurance Corporation (LIC) has a lot of products i.e. insurance plans which make it difficult for clients to choose the most beneficial one among all the products. In the same way, though there is nothing called the LIC Child Education plan there are certainly some plans available in the Life Insurance Corporation (LIC) which cover for a child’s education, especially there is LIC policy child future plan.
Today, let’s talk about the LIC child education plan i.e. the best LIC policy for child future plan especially the highlights of this plan in this article below:
The notion of child insurance, just after the birth of your little champ is usual for over decades in India. All parents want to provide their best for the kids in terms of safety, food, shelter, and especially education nowadays. As the expenses for education are too high to cover…that is why people usually plan to buy LIC child education plan/LIC for kids for their kid’s future.
The LIC education plan for child assistances the kid as the sum of maturity will be expected at the time of your child’s higher educational purpose. Besides, the LIC child education plan i.e. the child insurance plan LIC for child future promises to offer monetary safety to the youngster in the case of the death of both parents or either one parent. Let’s know in detail the benefits LIC Child Future Plan i.e. LIC child education plan and its benefits, features and so many more.
What is LIC Child Future Plan Or LIC Child Education Plan?
Table of Contents
Source :- licinternational . com
The LIC Child Future Plan or the LIC Child Education Plan is a sort of cashback gift plan. This is planned uncommonly to profit a child so that the entirety guaranteed and the reward sum is quickly paid to the candidate if there should be an occurrence of the demise of the existence safeguarded.
The best child education plan LIC/best child insurance plan in LIC is drafted to meet the rising instructive, marriage and different costs of the developing children. The plan guarantees to give the hazard inclusion on the life of the child till the span of the policy, as well as the inclusion, stretches out for a time of seven years after the expiry of the policy term.
The LIC will be qualified to pay various survival advantages to the enduring child till the finish of the predefined term, which is in the event that the child outlasts the policy residency, the child will be qualified for getting 115% of the whole guaranteed.
The child will additionally get 25% of the aggregate guaranteed 5 years before the date of expiry of the policy term and in conclusion, the enduring child will be qualified to get 10% of the entirety guaranteed amid the most recent 4 years, 3 years, 2 years and 1 year before the last development of the child protection policy. Lastly, when the policy develops, the child will get half of the aggregate guaranteed alongside the amassed vested reward and last extra reward, assuming any.
Highlights Of The Plan:
Source :- medium . com
The best LIC plan for child education gives chance cover to the child amid the residency of the policy as well as amid the all-encompassing term of 7 years post-development of the policy. So here are the highlights of the best LIC plans/LIC kids plan
- Get extra rider of premium waiver advantage under this LIC best plan for Child/Child education plan
- Get development advantage of half of the whole guaranteed in addition to vested reward and last extra reward, if any announced post maturity of the LIC education policy.
- The survival advantage is 25% and 10% of the entirety guaranteed will be paid if the child makes due amid the residency of the best LIC policy for child education.
Benefits of the LIC Child Future Plan or the LIC child Education Plan:
Source :- easypolicy . com
- LIC plans for child future provides income tax Benefits
- Survival benefits are also available under the LIC children’s education plan
- LIC child plans provide Death Benefits
- LIC children policy provides Maturity benefits
- You will get Auto cover under the LIC best policy for child
- The LIC best Child plan LIC provides Premium Waiver benefits
Eligibility Criteria
- Entry age minimum of 0 years to a maximum of 12 years old
- Maturity age is a minimum of 23 years old to maximum 27 years old
- The policy term is a minimum of 11 years to a maximum of 27 years old
- Sum assured is minimum INR 100000/- to Maximum INR 10000000/- as per the premium payments
Documents Required
- The birth certificate of the child below 5 years old and an ID card from school if the kid is above 5 years old for the LIC kid policy
- Policyholder’s ID card, age proof, address proof, Income proof
- Passport size photo of both the policyholder and the child
So, if you are soon to be parents then you can give a second thought to this insurance plan for your child’s better future. This one is among the best policy for child education.
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