It is a regular plan with limited payment option. Flexible Survival benefit is available to meet education needs from age 20 to age 24 years of child age. It gives guaranteed tax free maturity at age 25 years of child. Policy can be availed with a maturity age as 25 years and can be taken by children between the ages of 0 years to 12 years. This plan also offers cover on the life of child during policy term.
Money Back with Periodic Survival Benefits
Money back from the age of 20 Years to 24 years at predefined percentage is available to take care of the education needs of child and lump sum maturity at the age of 25 years of child to take care of marriage expenses of child.
Reinvestment option
Periodic Survival Benefits in the form of Money Back can be reinvested in other policies and utilized along with maturity amount.
Profit Sharing as per Valuation
Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.
Premium Waiver Benefit
By paying small extra premium amount, you can secure your life in case of sudden demise which waives future premium and continue policy with assured returns to fulfil your child’s dream even without you.
Advantages
Avail Tax benefit on premium paid
Tax Free Maturity Amount
Tension Free Claim Settlement
For Basic Plan
| Minimum | Maximum | |
|---|---|---|
| Entry Age | 90 days completed | 12 Years (last birthday) |
| Term | 13 Years | 25 Years |
| PPT | 8 Years | 20 Years |
| Maturity age | 25 Years | |
| Sum Assured | ₹ 75,000/- | No Limit |
| Mode of Premium Payment | Yearly, Half Yearly, Quarterly, Monthly ECS and through salary deductions (SSS) | |
| The Sum Assured shall be in multiples of ₹ 5,000/- from Sum Assured ₹ 75,000/- to ₹ 1,00,000/- and ₹ 10,000/- for Sum Assured above ₹ 100,000/- | ||
Premium Waiver Benefit (PWB) Rider – optional
Minimum Entry Age : 18 Years (Completed)
Maximum Entry Age : 55 Years (Nearest Birthday)
Maximum cover ceasing age : 70 Years (Nearest Birthday)
Maturity Benefits
There are 4 options
| Option | Survival Benefit | Maturity Benefit |
|---|---|---|
| Option 1 | No Survival Benefit | 100 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |
| Option 2 | 5 % of Sum Assured from Age 20 Years to 24 Years | 75 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |
| Option 3 | 10 % of Sum Assured from Age 20 Years to 24 Years | 50 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |
| Option 4 | 15 % of Sum Assured from Age 20 Years to 24 Years | 25 % of Sum Assured + Vested Bonus + Final Additional Bonus, if Any |