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  • LIC's New Children Money Back

Plan detail available soon

  • Non -linked, With-Profits, Regular premium payment Money back plan
  • Provides risk cover on the life of child during the policy term and number of survival benefits to meet the various financial needs of children.

Eligibility Conditions and Restrictions

  • Age at entry : 0 to 12 Years.
  • Age at Maturity : 25 Years.
  • Plan Term : (25-age) Years.
  • Premium Mode : Yearly, Half Yearly, Quaterly, Monthly(SSS or ECS).
  • Basic Sum Assured minimum Per Life : 1 Lac and above (In multiples of 10000).

Date of commencement of risk under the plan

In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from the date commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.

Date of vesting under the plan:

The policy shall automatically vest in the Life Assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Corporation and the Life Assured.

Mode Rebate
Yearly 2% of tabular premium
Half-Yearly 1% of tabular premium
Quaterly Nil
Basic Sumassured Rebate
5 Lac and avobe 3‰ BSA
2,00,00 to 4,90,000 2‰ BSA
1,00,000 to 1,90,000 NIL

LIC's Children money back Plan - Loan

  Loan Facility available after payment of full 3 years premium.
♦ Maximum loan 90% of the Surrender value in case of in force polices and 80% in case of paid up polices.

LIC's Children money back maturity benefits

♦ 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
Option to defer the Survival Benefit(s):
The policyholder will have the option to take the survival benefit (s) at any time on or after its due date but during the currency of the policy. In case of deferment of a due survival benefit(s) opted by the policyholder, the Corporation will pay increased survival benefit (s) equal to

Survival Benefits % * Sum Assured * Factor applicable to Survival Benefit (s)

LIC's Children money back death benefits

On death Before the Date of Commencement of Risk:
An amount equal to the total amount of premium/s paid excluding taxes, extra premium and rider premium, if any shall be payable.
On death After the Date of Commencement of Risk:
An amount equal to 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.
The premiums mentioned above exclude tax, extra premium and rider premium, if any.

LIC's Children money back Survival Benefit

♦ 20% of the basic sum assured on completion of ages 18 years, 20 yrs & 22 years provided the policy is in full force.

LIC's New Children money back Plan - Premium Waiver Benefit Rider (UIN: 512B204V01)

LIC's Premium Waiver Benefit Rider is available on payment of additional premium. This rider can be opted for along with the basic plan at the inception or at any time during the policy term provided the outstanding policy term of the basic plan is at least 5 years.

LIC's New Children money back Plan - Surrender Value

  Can be surrendered at any time during the policy term provided premiums have been paid for full three years.

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Documents Required

  • Proposal Form No 300
  • 1 Passport size Photograph(Proposor)
  • Your ID Proof (Passport, DL, PAN, Voter ID)
  • Your Age Proof (Passport, School Certificate, DL, PAN, Voter ID)
  • Address Proof

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