Children Plans

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Why should one purchase a child investment plan?

Bringing a new life into the world comes with a lot more responsibilities as well as financial liabilities. When it comes to securing a child’s financial future, parents need to plan everything out in advance.

Only the best child plan would cover several aspects. It would also take into account the various phases of a child’s life, including their education, healthcare, and even marriage.

To ensure that children’s future is financially secure and comfortable, parents should take into account factors including the cost of higher education, the size of savings, etc. As such, these certain pointers should be taken into consideration before adopting a child investment plan.

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Special Children Plans

Here are some of the best saving child investment plans that a parent can look into:

  • Jeewan Tarun

    LIC's JEEVAN TARUN is a participating non-linked limited premium payment plan which offers an attractive combination of protection and saving features for children. This plan is specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years. It is a flexible plan wherein at proposal stage the proposer can choose the proportion of Survival Benefits to be availed during the term of the policy as per the following four options:

    Option Survival Benefit Maturity Benefit
    Option 1 No survival benefit 100% of Sum Assured
    Option 2 5% of Sum Assured every year for 5 years 75% of Sum Assured
    Option 3 10% of Sum Assured every year for 5 years 50% of Sum Assured
    Option 4 15% of Sum Assured every year for 5 years 25% of Sum Assured

    Where, Survival Benefit is the annual payment of a fixed percentage of Sum Assured (as defined in the table above) every year starting from policy anniversary coinciding with or following the completion of 20 years of age and thereafter on each of the next 4 policy anniversaries and Maturity Benefit is a fixed percentage of Sum Assured (as defined in the table above) along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, on maturity.
    The chosen option shall become a part of the policy contract and no further change in option shall be allowed. In addition, this plan also takes care of liquidity needs through its loan facility.
    The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.

    For more details: Click here

  • New Children’s Money Back Plan

    LIC’s New Children’s Money Back Plan is a Non-linked ,Participating, Individual, Life Assurance money back plan. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations. The plan can be purchased by any of the parent or grand parent for a child aged 0 to 12 years.

    For more details: Click here

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