Introduction:

Life Insurance Corporation is the largest policy maker in India under the control of the Government of India. Insurance is a contract that commits the payment of a sum to the person (or nominee) in the event of the occurrence of the event against which it is insured. LIC offers a wide range of policies in a wide range of intervals and client groups. Life insurance in India started over a hundred years ago. LIC has been the policy maker for over a hundred years. All age groups can take out policies, but the elderly and children get the best benefits.

Children policies:

The children’s policies offered by LIC are by far the best compared to any other insurance organization. These policies are versatile and you can tailor them to your needs. All of these policies have a similar design. You can start the policy before your child turns 12 and you can choose the expiration age. The range is from 18 to 25 years old, depending on your child’s career plan. LIC currently offers two plans for children.

The New Kids Cash Back Scheme:

The New Child Money Back Plan is an untied, participating, individual life insurance money back plan. It comes with the subtitle children grow up very fast. This plan offers all three benefits for Death, Survivor and Expiration.

Death benefits include an infinite death benefit. Survivor benefits include withdrawals at regular intervals, while expiration benefits include the full policy amount along with any expiration benefits. Survivorship benefits make this plan suitable for your children’s education, marriage and other activities. The survivor benefit includes a fixed 20% payment on each plan anniversary. You also get the profit sharing that the LIC decided for the quarter. You have the opportunity to choose between several survival and death benefits. this does best child insurance plan in lic.

You can pay monthly, quarterly, semi-annual or annual installments. The minimum sum is Rs 1,00,000, and there is no limit on the maximum.

The Jeevan Tarun Plan:

The Jeevan Tarun plan is an exclusive plan for the educational expenses of your children. This plan gives you all four benefits of the previous plan, but with different rates and options for each benefit. The minimum age of maturity is 20 years, and the survivor benefit options are more oriented towards the educational perspective.

This plan gives you four options for survivor and expiration benefits, making it more versatile. You can choose the percentage of survival and expiration benefits. Survival options are zero, 5%, 10%, and 15% a year. Similarly, the expiration profit options are 100%, 75%, 50% and 25% respectively. This right here makes this policy the best lic policy for your child’s future.