Child Moneyback 932 | Lic Child Plan 2021 | Lic Children Education Plan | Lic Child Policy

Описание: Lic Child Money Back Plan | Lic Child Plan 2021 | Lic Children Education Plan | Lic Child Policy

Yeh Plan Bacho Ki Padai Se Lekar Shadi Tak Help Karta hai Children Money Back Plan Ke Aur Bhi Kuch Benefits Hai Jisko Video Me Dekhne Se Jaldi Samaj A jayega

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Queries Solved
1. How many year children will get money
2. Why is PWB rider is important
3. Who is Proposer in Child Policy
4. What At Child Risk Cover Will Start
5. What is the Maturity Amount
6. In Case of Child Death


LIC's New Children's Money Back Plan is a insurance cum investment plan which can be used for securing the financial needs of a child as they turn 25 years old. It is a participating plan and hence is eligible for bonus depending on the performance of LIC.

Let us understand how this plan works with the help of an example.

Suppose Yuvraj's parents decide to take this plan for him.

Age of Yuvraj = 5 years
Date of Policy Commencement = 25th July, 2017
Basic Sum Assured = Rs. 1,00,000
Policy Term = 25 - Age = 25 - 5 = 20 years
Premium Payment Term = 20 years
Annual Premium = Rs. 5,586 + Taxes

Since Yuvraj's age is less than 8, the risk commencement date will be one day before the policy completes 2 years.

Risk commencement date = 24th July, 2019

Scenario 1 - Yuvraj dies anytime before the risk commencement date of 24th July 2019.

Death Benefit = All premiums paid are returned. You will get a minimum of 105% of premiums paid even if he dies after 1 year.

The policy terminates.
Scenario 2 - Yuvraj dies anytime after the risk commencement date of 24th July 2019 but before he turns 18.

The death benefit will depend on the number of annual premiums that have been paid.
Death Benefit = Nominee will get higher of the following:
• 10 times the Annual Premium = Rs. 10,00,000
• Rs. 1,00,000 + Simple Reversionary Bonuses + Final Addition Bonus
The policy terminates.

Scenario 3 - Yuvraj dies at the age of 19.
The nominee would be eligible to receive the 1st tranche of Survival Benefit in addition to the Death Benefit.

Survival Benefit = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Death Benefit = Nominee will get higher of the following:
• 10 times the Annual Premium = Rs. 10,00,000
• Rs. 1,00,000 + Simple Reversionary Bonuses + Final Addition Bonus
The policy terminates.


Scenario 4 - Yuvraj dies at the age of 21.
The nominee would be eligible to receive the 1st & 2nd tranche of Survival Benefits in addition to the Death Benefit.

Survival Benefit after he turns 18 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Survival Benefit after he turns 20 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Death Benefit = Nominee will get higher of the following:
• 10 times the Annual Premium = Rs. 10,00,000
• Rs. 1,00,000 + Simple Reversionary Bonuses + Final Addition Bonus
The policy terminates.

Scenario 5 - Yuvraj dies at the age of 23.

The nominee would be eligible to receive the 1st, 2nd & 3rd tranche of Survival Benefits in addition to the Death Benefit.

Survival Benefit after he turns 18 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Survival Benefit after he turns 20 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Survival Benefit after he turns 22 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Death Benefit = Nominee will get higher of the following:
• 10 times the Annual Premium = Rs. 10,00,000
• Rs. 1,00,000 + Simple Reversionary Bonuses + Final Addition Bonus
The policy terminates.


Scenario 6 - Yuvraj survives the policy term.

The nominee would be eligible to receive the 1st, 2nd & 3rd tranche of Survival Benefits in addition to the Maturity Benefit.

Survival Benefit after he turns 18 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Survival Benefit after he turns 20 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Survival Benefit after he turns 22 = 20% of Basic Sum Assured = 20% of Rs. 1,00,000 = Rs. 20,000.

Maturity Benefit = 40% of Basic Sum Assured + Simple Reversionary Bonuses + Final Addition Bonus = 40% of Basic Sum Assured + Simple Reversionary Bonuses + Final Addition Bonus.

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