In today’s era, big expenses like education and marriage of children remain a challenge for every middle class family. In such a situation, if a trusted scheme plans these expenses in advance, then the family’s worry can be overcome. The New Children’s Money Back Plan of the Life Insurance Corporation of India (LIC), the country’s largest insurance company, can prove to be a great option in this direction.
How will a fund of 19 lakhs be made?
If you start investing in this scheme from the birth of a child and invest about Rs 150 (ie about Rs 4,500 every month) daily, then there will be a contribution of about Rs 55,000 annually.
On continuing this investment for 25 years, your total contribution will be around 14 lakh rupees.
This amount can be up to about 19 lakh rupees by adding bonus and interest on maturity. This amount will be used in big expenses like higher education or marriage of the child.
Premium payment options
The facility of depositing premium in this plan is flexible. If you want
When will you get money back?
Part of investment at the fixed age of the child is returned –
18, 20 and 22 years old: 20-20% of Samadord
At the age of 25: 40% more bonus left
input range
Minimum Sums Assured: ₹ 1 Lakh
Maximum limit: no limit (you can invest according to your capacity)
Policy maturity: 25 years
Insurance protection and nominee benefits
If the policyholder dies before the policy is completed, the nominee is paid. This amount is 105% of the minimum paid premium (after cuttings), and bonus and insurance amount may also include.
Loan facility
The specialty of this scheme is that after two years of purchasing the policy, the facility of taking loan is available. That is, if needed, you can raise money immediately for the education or marriage of the child without breaking the policy.
