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Life Insurance Corporation: A Review of Children Policies
introduce:
Life insurance companies are the largest policymakers in India under the control of the Indian government. Insurance is a contract that promises to pay a sum of money to that person (or nominee) if the underwriting contract occurs. LIC offers a wide range of policies for a wide range of time intervals and client groups. Life insurance in India started more than a hundred years ago. For over 100 years, the LIC has been a policy maker. Policies can be developed for all age groups, but the elderly and children benefit the most.
Children Policy:
LIC offers the best child insurance policies by far compared to any other insurance agency. These policies are broad and you can customize them according to your requirements. All of these policies have a similar layout. You can start the policy before your child turns 12, and you can choose the age of majority. Depending on your child’s career plans, the range starts from 18-25 years old. Currently, LIC offers two programs for children.
New Children’s Refund Scheme:
The New Children’s Refund Plan is a non-affiliated, participating, individual, life insurance refund plan.it bears the title kids grow fast. The plan offers all three Death, Survival and Maturity benefits.
The death benefit includes a sum for premature death. Survival Benefit consists of regular withdrawals while Maturity Benefit consists of Total Policy Sum and Maturity Benefit. A survival benefit makes the plan suitable for your child’s education, marriage and other activities. The Survival Benefit consists of a fixed 20% payment on each anniversary of the plan. You also get the participation profit that the LIC decides for the quarter. You have the opportunity to choose among various living and death benefits.which makes it Best Child Insurance Plans.
You can pay monthly, quarterly, semi-annual or annual installments. The minimum amount is Rs 1,00,000 and the maximum amount is unlimited.
Jeevan Tarun Program:
The Jeevan Tarun plan is an exclusive plan for your child’s education expenses. This plan gives you all four benefits of the plans above, but with different rates and options for each benefit. The minimum age of majority is 20, and the Survival Benefit option is more educationally oriented.
The plan gives you four choices of survival and adult benefits, making it even more flexible. You can choose the percentage of survival and maturity benefits. The options for survival are zero, 5%, 10% and 15% per year. Likewise, the options for the yield at maturity are 100%, 75%, 50% and 25%.This sets out this policy here Get the best lic policy for your child’s future.
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