LIC Jeevan Chhaya

LIC’s Jeevan Chhaya Table/ Plan No 103:

Premium Ceasing Age : 65 Premium Ceasing Term : 0

Plan Highlights
Features
•LIC’s Jeevan Chaaya Policy is Ideal for parents having less than a year old child.
• Makes provision for education! marriage of the baby boy girl child/ daughter.
• Extra benefit of waiver of premium in case of death of the policy holder.
Special Features
This policy is given under non-medical scheme up to sum assured of Rs.1 lakh, if the prospect is having a child of less than one year of age as on date of registering the proposal. This non-medical is exclusive for other policies.
Benefits
Short term needs like family provision in case of premature death of the policyholder and long term needs like education and marriage of dependents are simultaneously fulfilled by this policy. This policy is a right choice if a person wants to provide for the marriage of his daughter. The term can be fixed so as to receive the maturity benefit when the daughter is of marriageable age. For e.g. If the policy is for 20 years then:
• At the end of 17th year – 25% of Sum assured is payable provided the policy is in force.
• At the end of 18th year – 25% of Sum assured is payable provided the policy is in force.
• At the end of 19th year – 25% of Sum assured is payable provided the policy is in force.
Survival Benefits:
Maturity : At the end of 20th year – Balance 25% Sum Assured plus bonus plus additional final bonus if any.
Fixed Benefits : 25% of the Sum assured payable each year at the end of last 3 years provided the policy is in full force.
Death Benefits:
Natural : Besides the fixed benefits, an additional amount equal to the Sum assured will be paid on the death of the policy holder. Further premiums waived
Accidental : Payment of double the Sum assured plus fixed benefit. Further premiums due from the policy anniversary following the date of death will stand waived.
Suitable For:
Couples having a less than one year child (not an adopted child) can avail themselves of this plan, in order to ensure that an adequate financial planning provision is made for the higher education of the child/ Kids Baby boy Girl . The child should not have completed one year of age on the date of registration of the proposal. Either father or mother or each one of them individually can take policies under this plan under Non-medical Scheme. This plan is also allowed to others subject to medical examination.

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LIC Jeevan Kishore

LIC Jeevan Kishore Child Insurance Plan No 102:

Premium Ceasing Age : 45 Premium Ceasing Term : 0

Plan Highlights
Features
• LIC’s Jeeavn Kishore Life Insurance Policy: Under this children’s plan the child becomes the owner of the policy automatically the age of 18 years. The plan offers high bonus from day one itself and the risk on the policy commences after 2 years of policy or on completion of 7 years of age, whichever is later.
• Also no medical examination of the child is required if his/her age is below 10 year
Special Features
This is a with profit policy, but bonus for the waiting period will vest immediately on the policy anniversary from when risk is covered or at the end of 5 years from commencement of the policy whichever is later, provided the policy is in force.
No medical examination is necessary if the age of the child is less than 10 years (last birthday). Else medical examination will be necessary
Benefits
Survival Benefits:
Upon survival the policy holder will get, the full sum assured plus accrued bonus and the final addition bonus.
Death Benefits:
The sum assured along with vested bonuses and final additional bonus, if any, will be payable on maturity or on earlier death provided death occurs on or after commencement of risk.
Suitable for:
Parents of children who want to provide a lump sum amount at a particular age of the child.
The amount can be used for any given need of the child such as marriage or start in life.

Premium Mode Options:  Monthly, Quarterly, Half Yearly, Yearly, Single

Contact us for free quotes on LIC’s Insurance for Kids: Jeevan Kishore Endowmnet Life Insurance policy. Our LIC of India’s Authorised Agent/ Insurance Advisor/Consultant will Contact you within 24 hrs.