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
Best Investment Options
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

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

Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+91
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

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.”

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.

Investment plans articles

Recent Articles
Popular Articles
वरिष्ठ नागरिक बचत योजना ब्याज दर

28 Jun 2022

वरिष्ठ नागरिक बचत योजना...
Read more
NSC Premature Withdrawal

21 Jun 2022

National Savings Certificate, popularly known as NSC, is a...
Read more
सबसे ज्यादा रिटर्न देने वाली स्कीम

17 Jun 2022

अधिकांश इन्वेस्टर्स...
Read more
Invest 40 Lakhs for Monthly Income

15 Jun 2022

With Rs. 40 lakhs to invest, you have a lot of options to create...
Read more
Investment Plans for 10 Lakhs

14 Jun 2022

Investing a huge sum of Rs. 10 Lakhs calls for some caution on...
Read more
Best LIC Policies For Investment in 2022
When it comes to purchasing a life insurance plan, 'LIC policies' are the most popular choice for customers. LIC...
Read more
Post Office Monthly Income Scheme - MIS Interest Rate 2022
Are you looking for an investment avenue that is safe and secure, earns substantial returns with a short locking...
Read more
Short Term Investments Options
Short-term investments can be described as temporary investments or marketable securities, which can be easily...
Read more
Best NRE Savings Accounts for NRIs in 2022
India is a growing economy and is getting a lot of global recognition these days. It has shown immense growth in...
Read more
SBI Life Insurance Plans in India
SBI Life Insurance, a joint venture between State Bank of India (SBI) and BNP Paribas Assurance, provides...
Read more
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL