LIC Money Back Plan Features:
LIC is the short form for Life Insurance Corporation. LIC is a life insurance company that is one of the largest companies of life insurance in the country. It has a large number of customers attached to its policies. LIC always comes up with new plans to attach more customers to it. It has now appeared with a new offering under its category of children. The name of the policy is children’s money-back policy. The key term for this LIC new children’s money back plan is that it covers the needs of the children related to education and marriage. It also deals with various other needs like survival benefits that are essential for a growing child.
WHAT IS THE CHILDREN PLAN?
LIC offers various types of policies under their children’s category to benefit the child after a growing period. The LIC children money back policy is also the same and offers to fulfil the various needs of the child. It covers the needs of the children, even if the holder of the policy is not there. The best part of the children’s plan is that it not only helps the parents to secure their child’s future, but it also takes care of the child as the guardian after the death of the child’s parents.
Key term of LIC money back plan is that it covers the needs of the children related to education and marriage. It also deals with various other needs like survival benefits that are essential for a growing child.
FEATURES OF LIC MONEY BACK POLICY
The children policy of LIC offers various benefits and features that are mentioned below:
✅ It is a basic participating plan and has a limited option of premium payment under the LIC money back scheme.
✅ The premiums paid are returned after the death of the assured child.
✅ After the accrue of the assured, the survival benefits from the LIC policy plans for money back could be deferred before term and received any time.
✅ The survival benefit of this plan will pay at 20% on each anniversary of the policy when the assured child crosses the age of 18 years.
WHAT IS THE CHILDREN MONEY BACK PLAN?
LIC offers various types of policies under their children’s category to benefit the child after a growing period. The LIC money back policy is also the same and offers to fulfill the various needs of the child. It covers the needs of the children, even if the holder of the policy is not there. The best part of the children’s money back plan is that it not only helps the parents to secure their child’s future, but it also takes care of the child as the guardian after the death of the child’s parents.
Some of the most famous LIC money back plans are as follows:
