Life Insurance Corporation Plans For Kids

One of the oldest and most trusted insurance companies in India is undoubtedly the Life Insurance Corporation of India. LIC specializes in serving different insurance plans to their customers depending on the need such as investment plans, saving plans, health plans, child plans, and many more. When it comes to child plans, LIC provides a gateway to parents by creating an assured financial corpus for their child.

Read more
Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • ₹ 1 Crore

    Invest 10k Per Month*
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners
Grow Your Wealth !
Best Plans with High Returns available on one platform
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

There are many LIC plans for kids launched by the Life Insurance Corporation like LIC’s New Children’s Money Back Plan, Child Career Plan, and LIC JeevanTarun Plan.

Let us discuss in detail these LIC policies for kids, their features, and benefits.

LIC JeevanTarun Plan

LIC JeevanTarun Plan is a participating non-linked limited premium payment plan. This LIC money-back plan offers an attractive combination of protection and saving featuresfor children. This LIC plan for kids is designed in such a way that it meets their educational and other financial needs while they are growing up.

LIC JeevanTarun Plan is an extremely flexible and easy plan in which the policyholder can choose the proportion of Survival Benefits to be availed during the term of the policy.

There are 4 options from which the proposer can avail the survival benefits:


Survival Benefit

Maturity Benefit

Option 1

No Survival Benefit

100% of Sum Assured + vested Bonuses

Option 2

5% of Sum Assured paid every year for the last 5 policy years

The remaining 75% of the Sum Assured is paid + vested Bonuses

Option 3

10% of Sum Assured paid every year for the last 5 policy years

The remaining 50% of the Sum Assured is paid + vested Bonuses

Option 4

15% of Sum Assured paid every year for the last 5 policy years

The remaining 25% of the Sum Assured is paid + vested Bonuses

Features of LIC JeevanTarun plan

  • This is a Participating Limited Pay Traditional ChildPlan
  • Premium needs to be paid till the child is 20 years old while the policy continues till the child completes 25 years of age
  • Flexible payment options
  • The risk cover on the child starts after he completes 8 years of age or 2 years from the date of policy commencement, whichever is earlier
  • The remaining Sum Assured along with a vested Bonus if any would be payable to him on the maturity of the policy.
  • The Sum Assured on Death has been defined as the higher of 10 times the Annualized Premium or 125% of the Sum Assured, whichever is higher, subject to a minimum of 105% of the total premium paid to date.

Benefits of LIC JeevanTarun

Death benefit

In case of the sudden demise of the policyholder during the policy term, Sum Assured along with bonuses(if any) are to be paid to the nominee. Sum Assured is higher of:

  • 125% of the Sum Assured chosen while taking the policy.
  • 10 times of annualized premium as being paid.
  • Subject to a minimum of 105% of the total premiums paid as on date of death.

Survival benefit

If the policyholder survives till the maturity age, then a certain % of the Sum Assured is given to the policyholder as Survival Benefit in the last 5 years

Maturity benefit

If the policyholder survives the complete tenure of the policy, then the amount leftover of the Basic SA plus the bonuses acquired are paid to the policyholder as per Maturity Benefit

Benefit Illustration

Age of Life Assured (nearer birthday)




Policy Term (years)


Premium payment term (years)


Premium payment mode


Sum Assured (Rs.)


Premium (excluding Taxes) (Rs.)


Eligibility Conditions and Other Restrictions

Minimum Sum Assured

Rs. 75,000

Maximum Sum Assured

 No Limit

(The Sum Assured shall be in multiples of 5,000 from Sum Assured 75,000 to 100,000 and 10,000/- for Sum Assured above 100,000)

Minimum Age at entry

 [90] days (last birthday)

Maximum Age at entry

 [12] years (last birthday)

Minimum/ Maximum Maturity Age

 [25] years (last birthday)

Policy Term

 [25 – Age at entry] years

Premium Paying Term (PPT)

 [20 – Age at entry] years


Mode Rebate

Yearly mode

 2% of Tabular Premium

Half-yearly mode

 1% of Tabular premium

Quarterly, Monthly mode


High Sum Assured Rebate (on Premium)

Sum Assured (SA)

Rebate (Rs.)

75,000 to 1,90,000


2,00,000 to 4,90,000

 2 per thousand S.A.

5,00,000 and above

 3 per thousand S.A.

LIC’s New Children’s Money Back Plan

LIC’s New Children’s Money Back Plan is a non-linked, Individual, Life Assurance, Traditional money-back plan. A tailor-made LIC policy for kids to meet their education, marriage, and other needs while they grow up through Survival benefits. In addition, it offers risk cover on a child’s life during the policy period.

Features of LIC’s New Children’s Money Back Plan

  • LIC’s Premium Waiver Rider is available under this LIC plan for kids, which promises a waiver of future premiums in case of death of the proposer
  • Eligible to earn bonuses and the premium is paid for a limited part
  • The LIC policy for kids will vest in the name of the child who will eventually become the policyholder after the completion of 18 years of age
  • The loan can be availed under LIC New Children’s Money Back Plan
  • The tax benefit is available on the premium paid and the claim received. The premiums are exempted from taxation under Section 80C of the Income Tax Act and the claim received is exempted under Section 10(10D) of the Income Tax Act

Benefits of LIC New Children’s Money Back Plan

Death Benefits

On the demise of the life assured during the policy term, the death benefit is payable as:

Demise before the commencement date of risk

Return of premium exclusive of extra premium, rider premium, and taxes, if any,shall be payable

Demise after the commencement date of risk

Sum Assured on Death and the vested Final Additional Bonus and Simple Reversionary Bonus (if any), shall be payable.

Sum Assured on Death is defined as higher of Basic Sum Assured or 7 times of annualized premium

Survival Benefits

On the survival of the life assured, the term of the policy coinciding with or right away following the accomplishment of ages 18, 20, or 20 years, 20 % of the Basic Sum Assured on each occasion shall be payable.

Maturity Benefits

On survival of the life assured till the mentioned date of maturity, the Sum Assured (that is 40 % of the Basic SA) together with vested Final Additional Bonus and Simple Reversionary Bonus, if any, shall be payable.

Benefit illustration

Age of Life Assured

12 Years (Last birthday)

Policy term


Premium Payment Mode


Basic Sum Assured


Premium (Excluding Taxes)


Eligibility Conditions And Other Restrictions

Minimum Basic Sum Assured


Maximum Basic Sum Assured

No Limit

(The Basic Sum Assured shall be in multiples of ` 10,000/-)

Minimum Age at entry for Life Assured

[0] years (last birthday)

Maximum Age at entry for Life Assured

[12] years (last birthday)

Minimum/ Maximum Maturity Age for Life Assured

[25] years (last birthday)

Policy Term/Premium Paying Term

[25 – Age at entry] years


Mode Rebate:

Yearly mode

2% of Tabular Premium

Half-yearly mode

1% of Tabular premium

Quarterly, Monthly (NACH or SSS) mode


High Sum Assured Rebate (on Premium):

Sum Assured (S.A)


1,00,000 to 1,90,000


2,00,000 to 4,90,000

2 per thousand S.A.

5,00,000 and above

3 per thousand S.A

LIC Child Career Plan

The Career plan, as the name suggests, is specially designed to meet the career goals of your child along with other financial needs. This LIC plan for the newborn baby as well kids till the age of 12, offers risk cover on the life of the child not just during the policy term but also during the extended term (that is, 7 years after the expiry of the policy).

Features of LIC Child Career Plan

  • Risk cover extended even after the end of the policy term
  • Survival benefits as 30% of the Sum Assured. Balance sum payable in the last 4, 3, 2, and 1 year before maturity
  • The vested Simple Reversionary Bonus is also payable on the 5thyear, before the end of term
  • Maturity Benefit is 15% of the Sum Assured + Final Addition Bonus
  • The plan provides an add-on rider as the premium waiver rider

Benefits of LIC Child Career Plan

Death Benefit

Onthe demise of the life insured during the policy tenure, the beneficiary will receive the Sum Assured + Bonus.

If the life insured dies before the risk commencement, then the beneficiary will receive a complete basic premium paid until death + 3% interest compounded annually.

Survival Benefit

On survival during the entire policy term, the child will receive 30% of the Sum Assured + vested simple reversionary bonus 5 years before the policy expiration date.The balance sum is payable in the last 4, 3, 2, and 1 year before maturity.

Maturity Benefit

At the time of maturity, the insured receives the 15 % of the Sum Assured in addition to the final additional bonus, if any.

Benefit Illustration




Age of Life Assured



Policy term



Premium Payment Mode

Yearly, Half-yearly, quarterly, monthly

Basic Sum Assured



Maturity Age



Sample Premium Rates

Sample for Rs. 1000 Sum Assured:

For 6 years Premium paying term


Maturity Age































Mode Rebate

Yearly mode

2% of Tabular Premium

Half-yearly mode

1% of the tabular premium

Quarterly & Salary deduction


High Sum Assured Rebate (on Premium)

Sum Assured

Rebate (Rs.)

1,00,000 to 2,99,999


3,00,000 to 4,99,999

1.5 % of S.A.

5,00,000 and above

2 % of S.A.


LIC has been a trusted company for ages and the premiums and benefits offered by them are hard to compete within the marketplace. When it comes to your child’s future, no parent wants to take any risks. These LIC plans for the newborn baby, as well as a grown-up child, are very beneficial to every parent and one should get it without giving any second thoughts.

Average Rating
(Based on 26 Reviews)
Sign up for newsletter
Sign up our newsletter and get email about health plans.

Ulip plans articles

Recent Articles
Popular Articles
Bajaj Future Gain

24 Nov 2021

The Bajaj Future Gain plan is a unit-linked insurance plan that...
Read more
7 Things to Know About the Tax Benefits of ULIPs

06 Oct 2021

Nowadays, Unit Linked Insurance Plan i.e., ULIPs have evolved as...
Read more
How To Select The Best ULIP For Your Portfolio?

08 Sep 2021

ULIPs provide financial protection to the policyholder’s...
Read more
How to Choose The Right ULIP Plan In 5 Easy Steps

08 Sep 2021

Unit Linked Insurance Plans or ULIPs as known popularly, are one...
Read more
ULIP Calculator

08 Oct 2018

A ULIP calculator is a specifically developed tool which helps...
Read more
ULIP Calculator
A ULIP calculator is a specifically developed tool which helps the insurance buyers to calculate the premium...
Read more
SBI Life Smart Privilege Plan - All You Need to Know About Benefits & Features
One of the most trusted life insurance companies in India, SBI Life has recently come up with a new SBI Life...
Read more
11 ULIP Charges You Should Know About
Unit-Linked Insurance plan (ULIP) offers dual benefits of insurance and investment. Unlike traditional insurance...
Read more
ULIP Fund Returns
ULIP or Unit Linked Insurance plan  provides a combined benefit of investment and life cover. According to the...
Read more
Everything You Need to Know about LIC Market Plus Plan
Life Insurance Corporation, one of the largest insurance providers in India, offers a variety of plan to meet the...
Read more

Life Insurance Corporation Plans For Kids Reviews & Ratings

4.6 / 5 (Based on 26 Reviews)
(Showing Newest 25 reviews)
Chalakudy, April 16, 2021
Easy claim settled
I bought the Lic India term plan from the suggestion of my family friend and he recommended me a lot of plans. He said that the claim settlement ratio is quick and easy. Also, it is protective plan.
Asifabad, April 14, 2021
Additional riders
Along with my Lic India term insurance plan I have got the additional riders too. It has been an important thing for me and can be useful at any point in time. It can be added with a minimal amount.
Lakhimpur Kheri, April 13, 2021
Tax rebate
I bought a Lic India term insurance policy online and it has been into my budget. Also, I like one thing that I would able to get the tax benefits under it. It is a good option and can be beneficial for all tax payers.
Raghunathpur, April 09, 2021
Happy customers
I am one of the happiest customer of Lic India term plan and I have found various good deals. It is the plan which has come under my budget. And it has been a protective shield for me and my family.
Agra, April 07, 2021
Good plan
I like my Lic India term plan from the online market and I found the solace in this plan. It is a good thing to support yourself by getting the best term plan so secure the life.
Babina, March 23, 2021
Additional riders and benefits
It is a good idea for everyone to buy a LIC term plan as I have got the additional riders too under the same. The plan is very nice and much helpful.
Anantnag, March 22, 2021
Tax benefits
With this LIC term insurance plan I received a tax rebate and tax benefits. I found it much better as compared to other plans and it’s a kind of coverage and investment for me. I am totally happy with this plan and found it worthy.
Mawana, March 16, 2021
Secure your family
I have secured my family by buying a LIC term insurance plan. It is a long term plan with a lot of benefits under the same. At-least I will be satisfied that my family will safe and financially secured after I am not around. It’s a great plan under my budget.
Baleshwar, March 02, 2021
Premium payment is easy
It’s really easy to pay for the premium amount of my lic India term plan. Also, I pay it online because it is transparent in nature. I bought this plan like about 4 years back and continuing it for its safety purposes.
Bablabona, February 22, 2021
Sufficient plan
I have recently bought a lic India term insurance plan and it has been a wonderful plan for me and my family. A sufficient plan for the safety and security of my family. It has given me few benefits too which makes the plan a wonderful.
Badayun, February 16, 2021
Affordable premiums
The term insurance plan which I bought of Lic India is first class and very amazing. I like the plan because it has various features and benefits which makes the plan worthy. Also, the premium rate of the plan is according to my budget and much affordable.
Malpur, November 05, 2020
Beneficial plan
My LIC India term insurance plan is really good and beneficial in nature. They have provided with certain features and my life has been protective to me and my family.
Latur, November 05, 2020
Low premium
I got my term insurance plan of LIC India. It is really easy to attain and my term plan is really good as it has several add on features included into the same. The premium rate of my plan is really affordable in nature.
Dehradun, November 05, 2020
Tax benefits
Somebody into my circle recommended me to get the LIC India term insurance policy. So, I gave it a try and started searching for some plans. Quite easy to check features and benefits of all LIC term plans.
Garhmukteshwar, October 21, 2020
Amazing plans
It is a really good and amazing plan and I took the LIC term insurance plan for the safety and security of my plan needs and wants.I took the plan online and have checked good number of plans of LIC term plan.
Faridabad, October 21, 2020
Best policy
My lic term insurance plan which I bought recently have given me so much of help and satisfaction. It is a good plan with sense of safety and security. Claims are easy to go and basically it is a best plan for your future needs.
Haldwani, October 21, 2020
Good plans
I have got the lic India term insurance. The maturity year is pretty good and I am much happy with my term plan.
Basanti, January 08, 2019
Very Good Plan
Recently I took the Term insurance of LIC and found it too useful. The maturity year is good which 75 years. I feel it is good as it can used by my family after me if by chance some problem may occur. We should always secure our life so it was a good experience and I am getting good benefits too. Thank you.
Buxar, July 20, 2016
Excellent Work
The premium is low but the paybacks are high. Service is fast and because of that the claiming is simple to sanctioned. The lic term plan is suggested by my father and after seeing the terms and conditions i buy it.
Ahmedabad, July 20, 2016
Super Policy
My lic term plan is providing the best services. Policy covers maximum expenditures and good returns. Claims are easy to sanctioned, updates of the plan is mailed to email address. Best investment which reduces taxes.
Uttamnagar, July 19, 2016
Perfect Policy
LIC online term plan is very easy to buy and renewals is also simple. The updates regarding policy can be visit on the website of the insurance company. Service is fast and behaviour of the staff is nice. The investment is less and the returns are high.
Jaipur, July 19, 2016
The lic term insurance plan is fantastic which i have seen comes from ages and providing good policies to the customers. Service is the best no doubt in that, online portal is also easy to access and anyone can operate it easily.
Hyderabad, July 19, 2016
Good Service
I have lic term insurance plan which is very beneficial for me and my family members from last few years. The policy coverage is high and the premium is less. Service is fantastic which is facilitate by the executives and members.
Ahmednagar, March 09, 2016
help me, plane choose
Noida, January 02, 2016
life insurance
Download the Policybazaar app
to manage all your insurance needs.