Child Career Plan

LIC Child Career Plan (Table No 184):

Premium Ceasing: Age 27 Premium Ceasing Term: 11 Years

Features:

Child Career Plan is with profits plan for children. The features of the plan are mentioned below:

o Guaranteed returns in the form of survival benefits .

o Receive 30% of sum assured 5 years before the policy maturity plus reversionary bonus.

o Receive 15% of sum assured at 4th,3rd,2nd and one year before the expiry of policy term

o On expiry of policy the policyholder will get 15% of the sum assured and Final Additional Bonus.

o Extended term of 7 years is available from the date of expiry of the policy term.

o In case of non-payment of premium after at least two full year’s premium has been paid, full
death cover shall continue for a period of 2 years from the date of first unpaid premium.

o Sum assured is available between 1 lakh and 1 crore.

o Minimum and maximum entry age 0 years and 12 years respectively.
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LIC Child Fortune Plus

LIC’S Child fortune Plus (PLAN No. 194): LIC launched on 1st Nov 2008, Child Fortune Plus is a unit linked insurance policy by LIC, which ensure secure and successful future of the child in present, and even in absence of parents because parenting does not mean only loving and taking care of child but it also mean to secure child’s smooth and successful career.

Premium Ceasing Age : 75 Premium Ceasing Term : 0

Features: Flexibility to increase/ decrease premium & withdraw money according to your needs. Save Tax upto Rs.33390.

Benefits Payable on Death.
1. On death of Life Assured, if the child is alive.
a) Sum Assured shall be payable to the nominee.
b) Payable of all future premiums due under the policy shall be waived.
c) Units equivalent to an amount equal to all future premiums including
outstanding premiums, if any shall be credited to the policy holder fund.
d) The policy shall continue

2. On death of Life Assured, if the child is alive:
If less than 3 years premium have been paid and the policy is in lapsed condition, the Policy holder Fund Value shall become payable to the nominee and the policy will terminate.

3. On death of Life Assured, after the death of the child:
Sum Assured plus policy holder fund value together will an amount equal to all future premium including outstanding premiums, if any shall be payable to the nominee/legal heir, as the case may be, at that time and the policy shall terminate.

This shall also be applicable in case of simultaneous death of assured and child nominee.

4. On death of child before life assured death:
The policy will continue till maturity of till the life assured survives, whichever is earlier.

5. On death of child after life assured death:
An amount equal to the Fund Value of units shall be payable to the legal heir of assured and the policy shall terminate.
Maturity Benefits:

On the policyholder surviving up to the date of vesting, the Policyholder will get Fund value.

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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.