LIC Child Plans

These plans are specifically designed to provide financial protection and create savings and investment avenues for the children's future.

What are LIC Child Plans?

Child plans offered by Life Insurance Corporation of India are a mix of investment and insurance, focused on financially securing your child's future. You pay premiums regularly or as a lump sum, and at the end of the policy term you receive the maturity amount — timed to milestones like higher education and marriage.

LIC offers specialised life insurance and savings solutions with life cover, milestone-based payouts, and an optional premium waiver rider. If the policyholder dies during the policy term, the child's financial security is protected through death benefits — and in most plans, future premiums are waived while the policy continues.

5 Key Features That Make LIC Child Plans Stand Out

Premium Waiver Benefit: One of the biggest advantages of a LIC child education plan is the Premium Waiver Benefit, which provisions that the policy will continue to be in force even if the parent is not able to pay premiums due to unforeseen circumstances. This shield of benefits for the child remains a hallmark of the best child insurance plan options available today.

Deferment Option: The deferment option allows the disbursement period to be synchronized with major milestones such as a higher education. This systematic way of ensuring funds is one of a multitude of reasons why families have a preference for the plans which are considered the best child insurance plan in India.

Loan Facility: Under the LIC child plans, there is a facility of a loan by which the parents can obtain the required amount during the times of financial crisis without the need of surrendering the policy.

Bonuses: Participating policies earn bonuses that increase the maturity amount. This makes them an attractive choice for parents searching for the best policy of LIC for child.

Tax Benefits: Premiums paid and payouts received are eligible for deductions and exemptions under Sections 80C and 10(10D) of the Income Tax Act.

Best LIC Child Insurance Plans

Here is a list of some of the best child insurance plans offered by LIC:

LIC SIIP Plan 752

The LIC SIIP Plan 752, or Systematic Investment Insurance Plan, is a unit-linked non-participating individual life insurance plan that offers a combination of insurance and investments in a single policy. It allows you to invest premiums in four types of investment funds.

Benefits of LIC SIIP Plan

• Policyholders can allocate their premiums to different investment funds like equity, debt, or balanced funds. If the policyholder passes away during the policy term, his/her family will be paid the benefit amount.

• Once the lock-in period is over, policyholders can avail themselves of the partial withdrawal facility from their accumulated fund value in case of any financial emergencies or immediate financial needs.

• Moreover, this LIC for kids plan is flexible with regard to premium payment frequency (monthly, quarterly, half-yearly, or yearly) and the selection of investment funds.

• Depending on their investment preferences and the market conditions, policyholders can change the funds they are invested in.

LIC New Jeevan Anand 715

LIC New Jeevan Anand is an endowment plan that provides a combination of life protection and savings. These plans provide your child with financial protection if something happens to you, as well as on the other hand allows the policyholder to plan for their child’s future through maturity benefits.

Benefits of LIC’s New Jeevan Anand Plan:

At the end of the policy term, this LIC for kids plan pays a maturity benefit to the policyholder, which is the sum assured along with the bonuses, if any.

If the policyholder passes away during the term of the policy, the plan offers the death benefit to the nominee, which shall be the greater of the sum assured or the accumulated value of the policy.

Even after the policy term expires, LIC New Jeevan Anand goes on giving life cover for the whole life of the policyholder. On the death of the policyholder, the death benefit is given to the nominee, thus giving the family a little more financial security.

LIC New Children’s Money Back Plan 732

LIC New Children’s Money Back Plan provides a risk cover on the child's life for the policy term and gives survival benefits if the child is still alive at the end of the stipulated duration. This LIC Child plan meets the child’s needs for weddings, education, and other requirements through Survival Benefits.

Benefits of LIC’s New Children’s Money-Back Plan:

The plan provides regular money-back instalments to the policyholder throughout the policy term. Such money, back payments, can facilitate meeting of various financial demands like education costs, extracurricular activities or other milestones in the child's life.

In case of the policyholder surviving, the plan issues a single payout as the maturity benefit at the end of the policy term. A lump sum thus received can be put to higher education, marriage, or any other financial necessity of the child.

If unfortunately, the policyholder dies, the plan offers waiver of future premiums and keeps providing life insurance cover for the remaining period of the policy.

LIC Jeevan Tarun 734

LIC Jeevan Tarun is a limited premium payment plan which offers the combined benefit of savings and life protection features for children. this LIC for kids plan caters to growing children's educational and other financial needs.

Benefits of LIC Jeevan Tarun Plan:

LIC Jeevan Tarun plan entails giving a portion of the sum assured to the child at regular intervals during the policy term which can help the child in meeting various requirements such as education fees, skill development, or any other financial needs that may arise as the child grows up.

On the policy maturity, the child is entitled to the balance sum assured including any bonuses that may have been accrued. This amount can be utilized for the child's future plans, say for instance, to get a higher education or even starting a business.

LIC Jeevan Tarun allows flexibility in the selection of the benefit pattern. At the start of the policy, the policyholder decides on one of the four benefit options to determine the percentage of the sum assured that will be paid as survival benefits. The choice of options varies from 5% to 20% of the sum assured.

LIC Bima Jyoti 760

LIC Bima Jyoti is a savings cum protection plan which enables parents to secure their child's future. The LIC child plan provides annual guaranteed returns, thus it is a perfect option for long-term objectives like education or marriage.

Benefits of LIC Bima Jyoti Plan:

Following are the benefits that you can get from LIC Bima Jyoti:

This LIC for kids plan provides a life cover along with guaranteed yearly additions of 50 per 1,000 sum assured, thus you can accumulate steady growth for your child's future.

Besides, you can pay the premiums monthly, quarterly, half-yearly, or annually, as per your convenience, and decide whether you want to receive the maturity amount in one go or in regular instalments.

Additionally you may add optional riders such as accident or critical illness coverage, and loans are also allowed when required.

If the death occurs during the policy tenure, the nominee will be paid the full sum assured plus all accrued guaranteed additions, thereby providing the family with financial stability.

LIC Amritbaal 774

LIC Amritbaal is a LIC new policy for children that offers savings and protection, guaranteed additions, and flexible options, making it a great LIC plan for child. The plan is also suitable for those seeking a LIC child plan for 5 years, depending on their investment horizon.

Benefits of LIC Amritbaal:

Earn guaranteed additions of ₹80 per ₹1,000 sum assured every year, helping build a strong financial foundation over time.

Choose a maturity age between 18 and 25, with the convenience of single or limited premium payment options.

You can receive the maturity amount as a lump sum or in instalments, and for added security, you can enhance this LIC for kids plan with a Premium Waiver Benefit rider.

A loan facility is available to help you manage unexpected financial needs during the policy term.

This LIC new scheme for children helps parents plan their child’s future without financial stress.

LIC New Endowment Plus

LIC New Endowment Plus mixes investment freedom with insurance, positioning itself as a versatile LIC policy for children within the family of LIC plans for children. LIC’s New Endowment Plus policy offers four types of investment funds, Bond Fund, Secured Fund, Balanced Fund and Growth Fund, allowing policyholders to choose how their money is allocated.

Benefits of LIC New Endowment Plus:

Choose from equity or debt-focused funds. This aligns the investment with your risk profile.

Life cover lasts till the end of the policy. On death, the higher of the sum assured or fund value is paid.

A maturity payout of the amount equal to the Unit Fund Value on the maturity date will be payable if the life insured survives the policy term.

Partial withdrawals are allowed after the lock-in period. It is useful for urgent needs or education-related expenses.

You can add an accident rider for extra protection to enhance your safety net.

Benefits of LIC Child Plans

Supports Educational Expenses

If the policy covers the parent’s life, the nominee receives the death benefit on the parent’s demise. The child also gets the maturity amount at the end of the term, helping meet education costs.

Funds Higher Education & Marriage

A LIC child education plan helps parents build a corpus for higher studies. The lump sum amount can also be used for the child’s marriage.

Prevents Capital Erosion

Plans like SIIP offer four fund options based on risk appetite. Regular investments can generate market-linked returns and help grow savings.

Flexible Payout Options

LIC child plans offer payouts either as a lump sum or in instalments, making it easier to manage school, college, or other expenses.

Tax Benefits

Premiums paid qualify for deduction up to ₹1.5 lakh under Section 80C, and maturity payouts may be fully exempt under Section 10(10D), subject to plan conditions, making LIC child plans tax-efficient.

Why Choose LIC Child Plans?

Real-Life Example

Mr. Anil purchased LIC Amritbaal with a 20-year term to build an education corpus. He chose it for guaranteed additions through the term, flexible payout options, and built-in protection against the unexpected.

Guaranteed additions accumulate over time, boosting the value of the policy benefits, thereby building up a specific fund that can be used when the child reaches major educational milestones.

If Mr. Anil passes away unexpectedly during the policy period:

• The payment of future premiums will be waived so that the policy can keep running without the family's finances being affected.

• The death benefit is paid to the nominee as per the policy terms.

• The child remains eligible for the policy benefits scheduled under the plan.

Some of the expenses the money obtained through the plan may help cover include:

• Higher education fees in India or abroad

• Professional certification or skill-development courses

• Initial career or business setup requirements

This makes LIC Amritbaal a suitable option for parents seeking a structured and long-term financial solution for their child's future goals.

Summing Up

Before buying a LIC child plan, parents must evaluate their child's future goals, risk tolerance, and affordability. It is also advisable to compare different plans and use a calculator for child plans to get a balance between protection, savings, and long-term wealth generation. Being early can greatly help in creating a fund for major milestones.

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