Please note that the minimum age at the time of entry into LIC policy is 30 days and the maximum age is 13 years. The minimum age of maturity is 18 years and maximum age is 25 years.
LIC Amritbaal insurance plan: Life Insurance Corporation (LIC) has launched Amritbaal policy for children. It is a non-linked, non-participating, individuals, savings, life insurance plan that parents can buy in the name of their children. It has been designed in such a way that by investing you create sufficient fund for the higher education of your children.
limited premium payment
Option 1: Higher of the annual premium or seven times the basic sum assured
Option II: Higher of 10 times the annual premium or basic sum assured.
Single Premium Payment:
Option III: Single premium or higher of 1.25 times the basic sum assured
Option IV: 10 times the single premium
Loan against policy
The loan under Limited Premium Payment will be available as long as a minimum of two years’ premium has been paid. Loan under Single Premium Payment will be available during the policy term three months after the completion of the policy (i.e. three months from the date of policy issue) or any time after expiry.
