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: Age Eligibility: Entry Age: 0 to 12 years Maturity Age: 25 years Policy Term: 25 years minus the child's entry age 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). Maturity Benefit: 40% of the Sum Assured + Final Additional Bonus (if applicable) + Simple Reversionary Bonus 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 Premium Payment Term: Premiums are paid for the entire policy term or until the policyholder (parent/guardian) decides ...