LIC Scheme
If you are worried about the future of your children and are looking for any safe, reliable and beneficial investment for them, then there is no need to put money in the post office or FD. LIC’s “New Children Money Back Plan” is a better and smart option for you. With the saving of only 150 rupees daily in this scheme, you can make a fund of about 19 lakh rupees for your child. These money will be used for the education, marriage or any big expense of the child.
What is LIC New Children Money Back Plan?
This scheme is specially made keeping in mind the future of children. In this plan, parents can start investing in the names of their 0 to 12 years old children. It is a non-linked, participating insurance plan, with risk coverage as well as returns and bonuses on investment. The special thing about this scheme is that it has money back facility, that is, with the aging of the child, you get the amount of investment back at a certain age.
How will a fund of 19 lakhs be made?
If you save 150 rupees daily, then 4,500 rupees will be deposited in a month. In a year, this amount becomes close to Rs 54,000. If you make this investment for 25 consecutive years, then the total deposit will be around 14 lakh rupees. Apart from this, LIC also gives bonus and returns on this plan, due to which the total fund on the maturity of the policy can increase to about 19 lakh rupees. This amount is very useful in big expenses like children’s higher education, studies abroad or marriage.
How and when do you get money?
The most special thing about this plan is its money back system. When the child is aged 18, 20, 22 and 25 years old, then he starts getting a part of Samyord (ie insurance amount). At the age of 18, 20 and 22, you get 20-20% of the sum assured back. At the age of 25, the remaining 40% is also given bonus. In this way, you get financial help at the time of every need of the child.
Easy to deposit premium
Another big feature of this scheme is that it gets flexibility to collect premiums. If you want, you can submit premium on monthly, quarterly, half -year -old or annual basis, that is, it is very easy to invest according to your budget.
Full benefit of insurance too
In this plan, there is an insurance amount of at least 1 lakh rupees, but there is no limit of maximum amount. If the insured dies during the policy period, then the nominee gets a minimum amount of up to 105% as well as the deposit bonus. With this, this scheme is not only beneficial for investment, but also provides security.