Best LIC Policy For A New Born Baby Girl, LIC Children Plan

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Best LIC Policy For A New Born Baby Girl, LIC Children Plan

Today, the costs of education from early childhood are rising rapidly. Insurance policies can be a good way for parents to deal with these expenses. For a newborn baby, LIC Child Plans may prove to be the best fit.

1. New child money back Plan

This plan helps you to meet a variety of needs of children at different stages. The basic age for this plan is minimum 0 years (time of birth) and maximum 12 years. The total age at maturity is 25 years.

  • This plan is an individual policy plan.

  • Maturity benefit will be provided which would be equal to the sum assured and other applicable bonuses.

  • The premium would be paid quarterly, monthly, annually or semi-annually

  • The minimum sum assured is Rs. 1,00,000

  • This policy includes maturity, death and survivor benefit.

  • In this plan, the premium amount is paid at regular intervals. The child receives 20% of the total sum at 18 years of age, 20% every year again at 20 and 22 years of age and the remaining 40% is delivered at 25 years of age.

2. Jeevan Tarun Plan

This plan can be a good option for children aged 2 years or less. This plan has a limited payment option. You have to pay the premium until the child reaches 20 years and the policy is continued until the child is 25 years old. It is the best lic policy for new born baby girl.

  • The coverage of risk budget can start when the child reaches 8 years, or 2 years after the start date of plan or policy, whichever comes first.

  • The premium is payable until your child reaches 20 years of age and you can receive the benefit after 20 years to 25 years.

  • The rest of the sum is given as maturity benefit when the policy ends. There is also a death benefit of sum which is 10 times the annual premium or 125% of the sum assured. You get the one that is higher and the minimum amount of 105% of the total amount of the premium is paid until the date.

  • The minimum sum assured is Rs. 75,000.

3. Jeevan Umang Plan

This plan provides insurance coverage for life. This plan facilitates regular payments from the last payment of premium till survival. If the customer dies within the policy period, a fixed sum of money must be given.

  • The survivor benefit is paid every year, which is 8% of the sum insured.

  • Other benefits such as rider benefit, death benefit, maturity and tax benefits are available.

  • The minimum age for entry is 90 days.

  • The terms for paying the premium are 30, 25, 20 and 15 years. Age is 100 years with the nearest birthday.

  • The minimum sum assured is Rs 2,00,000.

  • Premium payment is only through NACH or SSS which is paid annually, quarterly, semi-annually and monthly.

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