LIC Children's Money Back Plan & Single Premium Plan

Life Corporation of India (LIC) launched two insurance products - children’s money back plan and single premium plan - to combat the decline of the state-owned life insurance market share. Children’s Money Back plan is designed to meet the educational and marriage expenses. It is a participating, non-linked money back plan according to a statement issued from LIC. The plan offers a risk cover for the child throughout the policy term with regular premium payments.  

Read more
Benefits of LIC Plans
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing Child's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Grow wealth with LIC to
Secure your Child's future
+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
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
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

Parents can also choose a premium waiver or add a health rider to enhance the cover. In case of the death of the proposer, the premium will be waived off in the remaining period of the policy.

Jeevan Sangam is a participating, single premium plan that offers savings and insurance protection for the child. The proposer will be able to choose a maturity sum assured by investing a pre-defined single premium. The principal investment shall depend on the vestment age of the insured.

Both these plans are open for sale for a maximum of 90 days from the date of launch.


V. K. Sharma - MD, LIC said in his interview, “By launching these products we can offer insurance security to all the policyholders until the age of 60 years. This is the first time we are launching a single premium product. Moreover, we are happy to say it is a complete tax compliant plan. A ULIP plan will be launched in the next fiscal year, which is currently under planning process.”

People also read: Best Child Plan

Being the country’s largest insurer LIC has seen a sharp decline in the shares up to 70% where its new business premium shrunk by over 21% from April to December in 2014.

A decrease of 21 % from the first three-quarters of 2014 against the same period of the previous year (2013) which is Rs 56,667 crore from Rs 65,7774.47 crore.

Therefore, to improve its market share LIC has launched these affordable and highly lucrative child plans. The government-backed insurance conglomerate believes that people will be willing to invest in such plans as they receive guaranteed benefits.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Child Plan3

Child plans articles

Recent Articles
Popular Articles
Child Education Planner

05 Feb 2024

Ensure your child's dreams come true with a Child Education
Read more
Indian Bank Education Loan

16 Jan 2024

Indian Bank stands tall as a reliable partner in your academic
Read more
Education Loan for Abroad Studies

16 Jan 2024

Pursuing international education is a dream for many aspiring
Read more
Education Loan Without Collateral

16 Jan 2024

An Education Loan Without Collateral is a financial solution
Read more
Canara Bank Education Loan

15 Jan 2024

Canara Bank Education Loan is a comprehensive financial solution
Read more
Top 12 Government Schemes for Girl Child
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
Prime Minister Schemes For Boy Child
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
Sukanya Samriddhi Yojana Calculator
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that aims to create a corpus to
Read more
Best Child Investment Plans to Invest in 2024
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL