LIC's New Children's Money Back Plan (832)

Today LIC has launched the most awaited plan for the children, a new Child Plan - 832, after a gap of 14 months.

Following are the salient features of the plan:

• Non-linked, With profits, Regular Premium Payment Money Back Plan No.832 launching wef 4th March 2015.
• ELIGIBILITY CONDITIONS-

            Minimum Entry Age= 0 yrs LBD (Last Birth Day);
            Maximum Entry Age= 12 yrs LBD;
            Policy term= 25 yrs minus entry age;
            Maturity Age= 25 yrs;
            Minimum Basic Sum Assured= Rs.1 Lac;
            Maximum Basic Sum Assured= No Limit.

• DATE OF COMMENCEMENT OF RISK-

            a) for age of LA below 8 yrs= 2 yrs after DOC;
            b) for those aged 8 yrs & above= immediately.

• SURVIVAL BENEFIT-

           On Policy Anniversary coinciding or following completion of 18 yrs, 20 yrs & 22 yrs of age, 20% of BSA will be payable on each occasion for inforce policies.

• OPTION TO DEFER THE SURVIVAL BENEFIT-

           Provided the Life Assured has intimated his desire to opt for SB at a later date, at-least 6 months prior to the due date of SB, the Corporation will pay him SB at an increased rate as per available factors.

• MATURITY BENEFIT-

           Balance of 40% of BSA along with Simple Reversionary Bonus & FAB, if any.

• PREMIUM BENEFIT RIDER-

           Available to proposer from either DOC or at any time during policy term, but before 5 yrs of maturity.

• MODES OF PREMIUM PAYMENT-

           Yly, Hly, Qly, Mly ECS & SSS.

• REBATES-

           a) Mode Rebate= 2 % on Yly mode & 1% in Hly mode;
           b) SA Rebate= Rs.2%0 on SA Rs.2 Lacs to Rs.4.90 Lacs & Rs.3%0 on SA Rs.5 Lacs and above.

THE BEST BIRTHDAY GIFT FOR A BRIGHT FUTURE OF YOUR CHILD.

For more details, feel free to contact us. :)