Children Plans
LIC’s New New Children’s Money Back Plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits.
Child plans are investment cum insurance plans that help to plan children’s future financial requirements by creating funds over a period of time. A child plan ensures payment of a lump-sum amount to a child on maturity to cover child’s college fees or marriage expenses.
LIC’s New Children’s Money Back Plan is a Non-linked, Participating, Individual, Life Assurance money back plan. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations. The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.