LIC's New Children's Money Back plan has been designed to meet the educational & other needs of the child

This plan offers the guaranteed 20% of Sum Assured to the child on the completion of ages 18, 20 & 22 Years

The customer has the option to defer these pay-outs

On Maturity, child gets the guaranteed 40% of Sum Assured along with Yearly Bonus & Final bonus

In case of a minor, this plan also has the premium waiver benefit in case of death of the parent.

This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.

In a similar way, the policyholder also has the option of choosing the death benefit in instalments

LIC also offer the discount in the premium in case the mode of payment is Yearly

The loan is also available to the policyholder after the completion of 2 years of the policy

Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years