Child Career Plan from LIC of India is a life insurance policy that is specially designed to meet the rising educational and other needs of a growing children. It offers risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations.
Under Child’s Career Plan vested bonus is payable along with first guaranteed survival benefit of 30% of sum assured followed by subsequent 5 annual guaranteed survival benefits @15% of sum assured. Thus total returns being 105% of basic sum assured + vested bonus and terminal bonus, if any.
Premium Waiver Benefit:
In LIC’s Child Career Plan there is a provision for additional risk cover of the proposer. The proposer may choose for his benefit waiver of premiums on death of proposer.
Income Tax benefits:
Income tax benefits are available to the proposer as per the regulations of Income tax Act.
Benefit Illustration of LIC of India’s Child Career Plan:
Please send a mail to [email protected] along with following details for specialized illustration for you.
Date of birth
Date of birth
Amount you are willing to invest annually
Any other information you want to provide
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