You child will be the single most significant aspect to your daily life. The world is not possible with out your children. It is not a stretch to assert that when your child enters your life, that child will eventually become your life. Making sure you are able to protect the future of your child to ensure that they can be secure both mentally and financially is the main prioritization. This can be accomplished by using the Child Protection Plan (LIC).
The LIC Child Plan is a life insurance plan designed to fulfill the requirements for your baby. It ensures the future of your newborn baby, even after you’re no longer a part of their lives. It is the LIC Child Plan secures the financial security of the child, and ensures the parent of a better future to their children. You child will be the star of your eyes and deserves the very best of life. The best children’s LIC plan is a bit difficult due to the numerous policies that are available. Some of the top LIC child plans are:
1.NEW CHILDREN’S MONEY BACK PLAN
It is the LIC child plan the most beneficial LIC policy for newborn babies. It’s designed to address the different financial requirements of the child even when the parent isn’t present. It helps meet the financial needs at the most crucial times for your child’s life, particularly an infant girl who is born:
- Life Cover and
- Additional needs arise as a child gets older.
This is accomplished through the many advantages that the policy provides. These benefits are:
*LIC PREMIUM WAIVER
It is the LIC Premium Waiver the best option that permits an exemption from premiums as the name suggests in the event of the death of the person who proposed. It does not impose any financial burden to the child.
The life assured child reaches age of 18-20 and 22 years old, 20 % of the initial amount assured is paid out in the event that the policy is in force and the life assured is still alive during the duration that is the LIC policy.
2.LIC JEEVAN TARUN POLICY
We all want our child’s education and academic future to be prosperous. The Jeevan Tarun policy of LIC is the best option to ensure a high-quality educational experience for your kid. It is also included in the top policies for babies born today girls. The policy should ensure that your child will not be dependent on anyone to ensure their future. It is available for purchase at the time of birth until the child reaches 12 years of age. It comes with many benefits and advantages:
The proposer could make arrangements for an insured life to receive annually, anytime between the ages of 20 and 24 and then the full amount at the time that the policy is due to mature. The percentage of the payments could also be fixed and set by the proposer.
The maturity benefit ensures that the life insured is provided with a maturity benefit based on the proportion of the amount that is assured is decided earlier.
In conclusion, the most effective child insurance plan from LIC such as the LIC Jeevan Tarun policy can provide your child with a an economically stable and secure future.