LIC'S Children's Money Back Plan T-832

                  LIC'S Children's 

           Money Back Plan    T-832.       


 LIC New Children’s Money Back Plan (Plan / Table no 832) is a new Money back plan from Life Insurance Corporation of India (LIC). Today LIC has launched this plan . This new money-back plan is a non-linked, with profits and regular premium payment policy. It is a savings cum protection plan.

 Features of Plan :-

• Minimum & Maximum Entry Age : 0 to 12 years (Child age)
• Life Assured / Insured : Your Child's life is insured under this plan *
• Proposer’s Minimum / Maximum Age : 18 years / 55 years (Proposer can be Child’s parent / guardian)
• Policy Term : Maximum upto 25 years of Child’s age. (If Child’s age is 10 years, policy tenure is 15 years)
• Premium Paying Term (PPT) : Maximum upto 25 years.minus Child Age (If Child’s age is 10 years, PPT is 15 years)
• Minimum Sum Assured : Rs 1 Lakh
• Maximum Sum Assured : No limit
• Premium Waiver Benefit Rider (optional) : Available. (LIC’s Premium Waiver Benefit Rider is available as an optional rider on the life of proposer aged between ages 18 to 55 years by payment of additional premium. In case of death of the proposer, the premiums under the basic plan falling due after the date of death shall be waived.)
  

  Death Benefit :-

In that there are three types of risk one is death before the date of commencement of risk and death after commencement.

On death Before the Date of Commencement of Risk:

• An amount equal to the total amount of premium/s paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk:

• The actual risk cover only after completing age of 8 years or after two years from the date of commencement of Policy whichever is later.
  

On death Of Proposer :

Death of the proposer occurs after the commencement of risk, death benefit amount which includes ‘Sum Assured on death ' will be paid If you are Opted PWB Rider.

Survival Benefit And Maturity Benefits (Money Back Schedules)

• • 20% of Sum Assured is paid when child completes 18 years.
  • 20% of Sum Assured is paid when child completes 20 years.
  • 20% of Sum Assured is paid when child completes 22 years.
  • After the policy maturity End of 25^th Year , maturity amount which includes 40% of sum assured + Accrued Bonuses (vested Simple Reversionary Bonuses) + Final Additional Bonus (FAB – if any) will be paid.
    

Documents Required:-

     1. Proposal Form No 300 and 340 and 360.
     2. Passport size Photograph(Proposer)
     3. 2 Passport size Photograph(Child) if required
     4. Your ID Proof
     5. School ID Card(Child) if age >
     6. Your Age Proof
     7. Age Proof(Child) if required
     8. Address Proof.