If you want to give a wonderful gift to your child on Children’s Day and want to keep his future safe, then start investing in LIC’s scheme New Children’s Money Back Plan today. Everyone dreams that their children have a good future. LIC also has one such scheme, which is designed keeping in mind the needs of children. We are talking about LIC’s New Children Money Back Plan.
At present, the interest of people in saving and investing (Money Back Plan) has increased. With the birth of a child, many parents start making plans for his future (New Children’s Money Back Plan). But let us tell you that if you save even some percentage of your earnings, then your child’s future can be changed.
The New Children Money Back Plan policy of Life Insurance Corporation is done for 25 years. Also, you get the maturity amount in installments. It is paid for the first time when your child turns 18. The second time it is paid when the child is 20 years old and the third time when he is 22 years old.
Under the New Children’s Money Back Plan, the life insured gets 20-20 percent of the sum assured as money back tax. Along with this, when the child turns 25, the entire amount is returned to him. And with the remaining 40 percent of the amount, bonus is also given. By investing in this policy in this way, your child will become a millionaire as soon as he becomes an adult.
The installment of this insurance started for the future of the child comes to Rs 55,000 annually. If you look at it according to 365 days, then in 25 years you have to deposit a total of 14 lakh rupees. At the same time, you get a total of 19 lakh rupees on maturity. But keep in mind that this rule is applicable only if the insured does not die during this period. If you do not want to withdraw the money, then you will get the full amount along with interest on the maturity of the policy.
These documents are necessary to take the policy:
1. Aadhar card, PAN card and address proof of parents are required for this policy.
2. Medical needs of the insured.
3. To take the policy, one has to fill a form by visiting any LIC branch or from an agent.
4. If the insured dies during this period, then 105 percent of the insurance premium is paid.