LIC New Children Money Back Plan

Making use of financial expertise gained over many years, we keep coming up with services meeting the exact needs of the clients. As a Service Provider, we offer yet another quality service in the form of LIC New Children Money Back Plan. Our money back plan is available for our valued clients for an affordable fee. We hire a team of proficient experts in the field of finance. This team is there to assist our esteemed clients in selecting the right plan for them.

Additional Information :

• LIC: New Children Money Back Plan is a non-linked, with-profits, regular premium payment money back plan specially designed to meet various financial needs of children through Survival Benefits. It provides for the risk cover on the life of child during the policy term and number of survival benefits on surviving to the end of the specified durations. The benefits and other details of the plan are given below.
• Death Benefit :
  
  • The benefits payable under an in force policy are as given below :  death Before the Date of Commencement of Flla lr.:An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any shall be payable.
  •  Death After the Date of Commencement of Fllalr: Death Benefit, defined as sum of "Sum Assured on Death" and vested Simple reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
  • Where "Sum Assured on Death" is defined as higher of 10 times of annualized premium or absolute amount assured to be paid on death i.e. Basic Sum assured. This death benefit shall not be less than 105% of the total premiums paid as on date of death.
• Survival Benefit : On the life Assured surviving on each policy anniversary coinciding with or immediately following the completion of ages 18 years, 20 years and 22 years of life Assured, 20% of the Basic Sum Assured on each occasion shall be payable provided the policy is in full force.