The LIC Children's Money Back Plan

 The LIC Children's Money Back Plan is a traditional, participating money-back policy designed to provide financial security for a child's future, including education, marriage, or other major life events. Here are the key features and benefits:

Key Features:

1. Age Eligibility:

   • Entry Age: 0 to 12 years
   • Maturity Age: 25 years

2. Policy Term: 25 years minus the child's entry age

3. Survival Benefits:

   • 20% of the Sum Assured is paid at ages 18, 20, and 22 years.
   • The remaining 40% plus bonuses are paid at maturity (age 25).

4. Maturity Benefit:

   • 40% of the Sum Assured + Final Additional Bonus (if applicable) + Simple Reversionary Bonus

5. Death Benefit:

   • If the child passes away before the risk commencement: Refund of premiums paid (excluding taxes and rider premiums).
   • If the child passes away after risk commencement: Sum Assured + Bonuses

6. Premium Payment Term:

   • Premiums are paid for the entire policy term or until the policyholder (parent/guardian) decides to surrender.

7. Optional Riders:

   • Premium Waiver Benefit Rider: If the policyholder (parent) passes away, future premiums are waived, and the policy continues.

8. Loan Facility:

   • The policyholder can avail of loans against the policy.

9. Participation in Profits:

   • The policy earns bonuses based on LIC’s performance.

Who Should Buy?

• Parents who want to secure their child’s future with a guaranteed payout at key life stages.
• Those looking for a disciplined savings plan with life coverage.

Would you like to know about premium calculations or other LIC plans?