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LIC Children Plans

We offer LIC insurance plans to our clients. The LIC insurance plan provides our clients with much of opportunity to ensure there future among safe hands. The LIC insurance plan acts according to the requirement of an individual and differs from person to person. The LIC insurance plans are policies that take care of each of our clients by talking to them individually and offer them the best possible option that is the most suitable one for them. The LIC insurance plan promises to take care of all the needs and requirements of the clients that join hands along with LIC insurance plan

Jeevan Kishore

Jeevan Kishore

 

To ensure good future of all child we are here with Jeevan Kishore (Children Plan). This life insurance plan is an Endowment Assurance Plan available for children of less than 12 years of age. The policy may be purchased by there guardian. The risk evolves after 2 years from the date of commencement of policy after the completion of 7 years of age of a child. The Premiums are payable yearly, half-yearly, quarterly or monthly throughout the tenure of the policy. The life assured gets a share of the profits gained by the LIC in the form of bonuses. Simple Bonuses are declared per thousand Sum Assured annually at the end of each year. Bonus is also received if policy runs for certain period.

 

Product summary:
This is an Endowment Assurance Plan available for children of less than 12 years of age. The policy may be purchased by any of the parent/grand parent.

Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.

Premiums:
Premiums are payable yearly, half-yearly, quarterly or monthly throughout the term of the policy or till earlier death of child, or single premium.

Bonuses:
This is a with-profits plan and participates in the profits of the Corporation’s life insurance business.  It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.

 

Jeevan Anurag

Jeevan Anurag



LIC’s Jeevan Anurag (Children Plan) is basically a profits plan created to take care of the educational requirement of children. This plan can be taken by a parent on his or her own life. Benefits under the particular plan are payable at the prescribed durations irrespective of whether the insurance survives to the end of the policy term. This plan also provides an immediate payment of Basic amount on death of the Life Assured during the term of the policy. The assured benefit that is regained is the Payment of 20%, 40% of the Basic Sum Assured at the start of every year during last 3 years before maturity, at maturity of the Basic Sum Assured along with reversionary bonuses and the Terminal bonus, if payable. It also provides death facility to the life assured person with a Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.

Marriage Endowment Or Educational Annuity Plan

Marriage Endowment Or Educational Annuity Plan

We are offering a range of Marriage Endowment or Educational Annuity Plan (Children Plan) to our clients. This insurance policy determines the Marriage Endowment Assurance plan which provides benefit from the selected maturity date to meet the marriage or the educational expense of the particular child. The premiums of this policy are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as chose by the assurer. The bonuses provided are in the profits of the corporation life insurances business the assurer gets share of the profits in form of bonuses. Bonuses are declared per thousand Sum Assured annually at the end of each financial year. It is also payable if the policy is of a certain minimum term.
Product summary:
This is an Endowment Assurance plan that provides for benefits on or from the selected maturity date to meet the Marriage/Educational expenses of the named child.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, throughout the term of the policy or earlier death.

Bonuses:
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business.  It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. Such bonuses are to be added till maturity even if the life assured dies before the maturity date. Final (Additional) Bonus may also be payable provided a policy is of a certain minimum term.

Komal Jeevan

Komal Jeevan

Komal Jeevan (Children Plan) as an insurance policy is a Children's Money Back Plan that provides financial protection against death of the assured individual during the term of the plan on payments regarding survival at specified duration. These can be purchased by their guardian for a child aged 0 to 10 years. There risk involvement commences either after 2 years from the date of commencement of policy completing 7years of age. The premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by the assured individual till the child attains 18 years of age. The policy also provides Guaranteed Additions at the rate of Rs.75 per thousand Sum Assured for each completed year.This insurance policy covers up the profits of the Corporation’s life insurance business. There are terminal bonuses payable along with death or maturity benefit.
Product summary:
This is a Children's Money Back Plan that provides financial protection against death during the term of plan with periodic payments on survival at specified durations. This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.

Commencement of risk cover:
The risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, up to the policy anniversary immediately after the life assured (child) attains 18 years of age or till the earlier death of the life assured. Alternatively, the premium may be paid in one lump sum (Single premium).

Guaranteed Additions:
The policy provides for theGuaranteed Additions at the rate of  Rs.75 per thousand Sum Assured for each completed year. The Guaranteed Additions are payable at the end of the term of the policy or earlier death of the Life Assured.

Loyalty Additions:
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business.  It gets a share of the profits in the form of loyalty additions which are terminal bonuses payable along with death or maturity benefit. Loyalty addition may be payable depending on the experience of the Corporation.

Child Future Plan

Child Future Plan

This insurance policy states that it is specifically designed to meet the increasing educational, marriage and other requirements of growing children. It provides risk cover on the life of a child not only during the policy term but also during the time of extension that is 7 years after the expiry of the policy. There are other determined option to be chosen that are Sum Assured (S.A.), Maturity Age, Policy Term, Mode of Premium payment and Premium Waiver Benefit. The payments of premiums are at yearly, half-yearly, quarterly or through Salary deductions over the term of policy. It is mandatory to pay the premium for 6years or before 5 years of policy lapse.
Introduction:
This plan is specially designed to meet the increasing educational, marriage and other needs of growing children. It provides the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations.

Options:
You may choose Sum Assured (S.A.), Maturity Age, Policy Term, Mode of Premium payment and Premium Waiver Benefit.

Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or through Salary deductions over the term of policy. Premiums may be paid either for 6 years or upto 5 years before the policy term.

Jeevan Chhaya

Jeevan Chhaya

This insurance policy publishes an Endowment Assurance plan that provides financial protection against death throughout the whole tenure of the plan. The payment of the sum assured is being immediately provided after the death. One fourth of the sum assured is payable at the end of every last four years of the policy tenure whether he is dead or alive within in policy term. The premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by the assured individual throughout the term of the policy. As per the bonuses are concerned it provides a share of the profits in the form of bonuses. Bonuses will be added at the selected term or till death, Bonus may also be payable provided the policy had matured a minimum period.
Product summary:
This is an Endowment Assurance plan that provides financial protection against death throughout the term of the plan. Besides payment of Sum Assured immediately on death, one-fourth of Sum Assured is payable at the end of each of last four years of policy term whether the life assured dies or survives the term of the policy.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions as opted by you throughout the term of the policy or till the earlier death.

Bonuses:
This is a with-profits plan and participates in the profits of the Corporation’s life insurance business.  It gets a share of profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. Bonuses for full term on the full Sum assured are paid at the end of the term even if death occurs during policy term. Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.

Child Fortune Plus

Child Fortune Plus

 

This Insurance policy determines that the investment policy has risk involvement in investment portfolios by the policy holders. LIC’s Child Fortune Plus is a unit linked plan which offers you a necessary platform to meet your child’s educational and other required needs. The insurance can be done for your child up to the age of 17years in case of single premium policies or else 10 for regular premium insurance the policy will continue till the child reaches the age of 25 yrs and the life assured attain the age of 75 years of nearest birthday. The premiums are paid either in lump sum (single premium) or regularly throughout policy term. The death benefit under the policy shall be the Sum Assured. For regular premium policies, in case of death of the life assured during the term of the policy, the plan also provides waiver for all future premiums. The wide ranges of funds offered are the Unit Fund which is subjected to various charges and value of units which may increase or decrease, depending on the Net Asset Value.

 

Child Career Plan

Child Career Plan

Child Career Plan (Children Plan) is designed to make tomorrow of the young ones much more educated and highly qualified. This insurance plan is specifically designed to meet the increasing educational and other needs of growing children. It ensures risk free life of the child not only during the policy term but also during the extended term of 7 years. The wide ranges of options offered to the individuals are Sum Assured (S.A.), Maturity Age, Policy Term, Mode of Premium payment and Premium Waiver Benefit. The premiums are payable yearly, half-yearly, quarterly or through Salary deductions over the term of policy its payment tenure lasts either for 6 years or 5 years of the policy term.
Introduction:
This plan is specially designed to meet the increasing educational and other needs of growing children. It provides the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations.

Options:
You may choose Sum Assured (S.A.), Maturity Age, Policy Term, Mode of Premium payment and Premium Waiver Benefit.

Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or through Salary deductions over the term of policy. Premiums may be paid either for 6 years or upto 5 years before the policy term.

Lic Jeevan Ankur

Lic Jeevan Ankur

LIC’s Jeevan Ankur is a conventional with profits plan, specially designed to meet the educational and other needs of your child. If you are the parent of a child aged upto 17 years, LIC’s Jeevan Ankur is the most suitable insurance plan for you which ensures that your responsibilities are met whether you survive or not and without depending on anyone else.

The risk cover under this plan will be on your life as a parent and the named child shall be the nominee under the plan. The policy term shall be based on the age at maturity of the child.

1. Benefits

i) 
Death benefit:

On death of the Life Assured during the policy term: Basic Sum Assured shall be payable to the nominee and an income benefit equal to 10% of Basic Sum Assured shall be payable on each policy anniversary, from the policy anniversary coinciding with or next following the date of death, till the end of the policy term.


ii)
 Maturity Benefit: At the end of the policy term an assured maturity benefit equal to Basic Sum assured along with Loyalty Addition, if any, shall be payable irrespective of survival of the Life Assured.

iii) Loyalty AdditionDepending upon the Corporation’s experience the policy will be eligible for Loyalty addition on the stipulated date of maturity irrespective of survival of Life Assured.
3. Eligibility Conditions and Other Restrictions (For Basic Plan):

 

a) Minimum Sum Assured                               :   Rs. 100,000

b) Maximum Sum Assured                              :   No Limit

                  (The Sum Assured shall be in multiples of Rs. 5000/-)

c) Minimum Age at entry for Life Assured   : 18 years (completed)

d) Maximum Age at entry for Life Assured  : 50 years (nearest birthday)

e) Maximum Maturity Age for Life Assured : 75 years (nearest birthday)

f) Minimum Age at entry for child                : 0  years (last birthday)

g) Maximum Age at entry for child               : 17 years ( last birthday)

h) Minimum Term                                        : Higher of (18 – age of child, 8) years

i) Maximum Term                                       : (25 – age of child) years

 

4. Sample premium Rates:

Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly mode (through ECS only) or through SSS mode over the term of policy. Alternatively, a single premium can be paid.

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