Under LIC new children’s money back policy, be able to invest Rs 207 daily 26 lakhs, know every detail of this plan

0
661
- Advertisement -

LIC new children’s money back policy: LIC’s New Children Money Back Policy is a great policy. It is a policy designed keeping in mind the future, needs, etc. of children. The minimum age to apply for this policy is immediately after birth and the maximum age is 12 years.

LIC new children’s money back policy : Life Insurance Corporation of India (LIC) is one of the most trusted insurance companies in the country. Crores of people have invested in this company’s policy. LIC sells a variety of policies including term, life, health, endowment, children and pension plans.

LIC’s ‘New Children Money Back Policy’ is a great policy. It is a policy designed keeping in mind the future, needs, etc. of children. The minimum age to apply for this policy is immediately after birth and the maximum age is 12 years. The policy’s maturity period is 25 years.



However, the maturity period will be determined based on the age of entry into the policy. It is a non-linked money back policy. That is, after a certain interval, you are given some amount in the form of money bank.

Also Read: Atal Pension Yojana is allowed to reduce the premium, how can it work

In this policy, there is a minimum sum assured of Rs 100000, then there is no limit on the maximum. In this policy, you can arrange Rs 26 lakh for children by investing Rs 207 daily. Let’s know what is special in this plan: –

Age: 5
Term: 20
Even Assured: 1400000



First Year Premium –

Annual: 77334 (74004 + 3330)
Half Yearly: 39084 (37401 + 1683)
Quarterly: 19751 (18900 + 851)
Monthly: 6584 (6300 + 284)
YLY Mode Average Premium / Daily: 211

After deducting the first year premium with reduced tax –

Annual: 75669 (74004 + 1665)
Half-yearly: 38243 (37401 + 842)
Quarterly: 19325 (18900 + 425)
Monthly: 6442 (6300 + 142)

YLY Mode Average Premium / Daily: 207
Total Estimated Due Premium: 1515045

Money Back:
18th Year: 280000
20th Year: 280000
22nd Year: 280000

Bonus: 1176000
FAB: 98000
25th year i.e. Total Estimated Return on Maturity (40% SA + Bonus + FAB): 1834000
Total Estimated Return: 26,74,000

Suppose if a person takes this plan for a five-year-old child, by the time he reaches the age of 25, he will get an amount of Rs 26,74,000 lakh. You will get this total amount of Rs 26,74,000 on a term plan of Rs 14 lakh.

- Advertisement -
DISCLAIMER

We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com