Every parent wants to save some of their earnings and invest it in such a place, which will prove to be helpful in providing a big fund for their children or in meeting other needs including their education. . If you are also planning something similar, then this news is very important for you.
Actually, the country’s largest insurance company LIC has recently launched a new scheme, which is especially for children. The name of this policy is LIC Amrit Bal, which gives excellent returns along with insurance.
This is the age limit for taking the policy.
LIC Amrit Bal Scheme is a non-linked life insurance policy. It is clear from the name itself that it has been launched especially keeping in mind the future of children. In this scheme of LIC, parents can start investing to secure the future of their child. To take this child plan of LIC, the age of the child should be minimum 30 days and maximum 13 years. Talking about the maturity of this policy, the minimum has been kept at 18 years and maximum at 25 years.
These options are available for premium payment.
If you want to take this policy, then it can be purchased in both online or offline mode. The minimum sum insured is Rs 2,00,000, while no limit has been set for the maximum. That means you can invest as much as you want. There is also a provision to give some discounts on online purchases. You can pay the premium amount in LIC Amrit Bal policy on monthly, quarterly, half yearly and yearly basis. In this scheme, you also get the facility to choose the waiver benefit rider as per two options under single premium and limited premium.
LIC is offering guaranteed returns.
This children’s policy is special in many ways, along with taking it, i.e. through a guaranteed addition at the rate of Rs 80 per thousand of basic sum assured at the end of each policy year from the beginning of the policy till the end of the policy term. Sum assured is available from. But for this it is necessary that this policy be operational. In this policy of LIC, if the age of the policy holder child is less than 8 years at the time of entry, the risk will commence either 2 years from the policy inception date or on or immediately after the policy anniversary.
Special features of LIC Amrit Bal Plan
- The age limit at the time of taking the policy is minimum 30 days and maximum age is 13 years.
- Minimum age of maturity is 18 years and maximum age at present is 25 years.
- Short premium payment terms are available under the policy, which are 5, 6 or 7 years.
- Minimum sum insured is Rs 2,00,000 and no limit on maximum sum insured.
- Premium Waiver Benefit Rider available on additional premium payment subject to eligibility conditions.
- This children policy of LIC also provides loan facility with certain conditions.
- This plan can be purchased from LIC agents or LIC website.
