How Can A 15 Year Old Boy Make Money Fast Life Insurance Corporation: A Review of Children Policies

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Life Insurance Corporation: A Review of Children Policies

Introduction:

Life Insurance Corporation is the largest policy maker in India controlled by the Government of India. Insurance is a contract that guarantees the payment of a certain amount to a person (or a proxy) in the event of the occurrence of the insured act. LIC offers a wide range of policies across a wide range of intervals and customer groups. Life insurance in India started more than a hundred years ago. LIC has been a policy maker for over a hundred years. All age groups can create policies, but the elderly and children benefit the most.

Rules for children:

Child policies offered by LIC are by far the best as compared to any other insurance organization. These policies are versatile and you can customize them according to your requirements. All these rules have a similar appearance. You can start the policy before your child turns 12, and you can choose the maturity age yourself. The range starts from 18-25 years, according to your child’s career plan. Currently, LIC offers two plans for children.

New Kids Cash Back Plan:

The New Child Cashback Plan is a non-linked, participating, individual life insurance cashback plan. It comes with an inscription children grow very fast. This plan offers all three benefits on death, survival and maturity.

Death benefits include an amount in case of premature death. Survival benefits include payouts at regular intervals, while maturity benefits include the total policy amount along with maturity benefits. The survivorship benefits make this plan suitable for your child’s education, marriage and other activities. The survivorship benefit includes a fixed payment of 20% on each plan anniversary. You also get participation profit decided by LIC for the quarter. You get the opportunity to choose from a variety of survival and death benefits. This makes it the best insurance plan for children in person.

You can pay installments monthly, quarterly, semi-annually or annually. The minimum amount is 1,00,000 rupees and the maximum amount is unlimited.

Jeevan Tarun’s plan:

Jeevan Tarun Plan is an exclusive plan for your child’s education expenses. This plan gives you all the four benefits of the above plan, but with different prices and options in each benefit. The minimum age of maturity is 20 years, and the chances of survival are more focused on the educational perspective.

This plan gives you four options for survival and maturity benefits, making it more versatile. You can choose the survival and maturity fee percentage. The chances of survival are zero, 5%, 10% and 15% per year. Similarly, the maturity benefit options are 100%, 75%, 50%, and 25% respectively. This here constitutes this policy the best policy for your child’s future.

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