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 and LIC This Policy Advantage And Rs 150 tax investment will get 19 lakh LIC.
● 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.
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 percent.
View Policies of self, spouse and children for Premium paid statements; Individual and Consolidated.
Register for Premier Services (online service requests)
Online Renewal Premium payment; Top-up; Loan Repayment and Loan Interest payment
Online Loan Requests
Complaint Registration and View Complaint Status
Claim status inquiry
Loan status inquiry
View Service Request status
Email and SMS Alerts.
LIC’s Jeevan Umang plan offers
Policies shall be eligible to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during the premium paying term, provided the policy is in force.
In case the premiums are not duly paid, the policy shall cease to participate in future profits during the premium paying term. Under a paid-up policy with Maturity Paid-up Sum Assured of less than Rs. 2 lakhs, the policy shall not participate in future profits.
Eligibility Conditions and Other Restriction
- Minimum Basic Sum Assured: Rs. 2,00,000
- Maximum Basic Sum Assured: No limit
- (The Basic Sum Assured shall be in multiples of Rs. 25,000/-)
- Premium Paying Term: 15, 20, 25, and 30 years
- Policy Term : (100 – the age at entry) years
- Minimum Age at entry: 90 days (completed)
- Maximum Age at entry: 55 years (nearest birthday)
- Minimum Age at the end of premium paying term: 30 years (nearest birthday)
- Maximum Age at the end of premium paying term: 70 years (nearest birthday)
- Age at maturity: 100 years (nearest birthday).
Date of commencement of risk: In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will the policy.