Learn Everything There Is To Know About The LIC's Girl Child Policy
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Your daughter is protected by the LIC. This policy, unlike others, provides a safety net for your daughter's possible marriage and education expenses. The Life Insurance Corporation of India (LIC) created the LIC Girl Child Policy to assist parents financially. The Girl Child LIC Policy protects you against harm while also allowing you to save until the end of the term. As a result, with extremely inexpensive premiums and large quantity assured alternatives, it is an excellent plan for parents. Continue reading to learn more about the LIC Girl Child Policy.
Best Girl Child Insurance Plans from LIC
LIC offers the following options to secure your child's financial stability:
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The LIC's New Children's Money-Back Plan
It's a conventional non-linked Money Back plan that requires your participation. This technique aims to provide incentives to parents in order to encourage them to save and invest in their children. It offers benefits that enable you to save money for your child's wedding or school. This plan also includes risk coverage, so you may travel with confidence. If the life guaranteed dies by accident before the risk period begins, the nominee will receive a sum equal to the return of premiums, rider premium, and any applicable taxes.If the insured life survives the ages of 18, 20, and 22, the basic money pledged is paid out at a 20% rate. If the life insured survives the policy's maturity age, they will get the SA as well as any additional benefits that may be available. If the insured life survives the ages of 18, 20, and 22, the basic money pledged is paid out at a 20% rate. If the life insured survives the policy's maturity age, they will get the SA as well as any additional benefits that may be available.
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Tarun Jeevan, LIC
It is a non-linked, participation-based plan with a low premium cost. It combines the benefits of both a life insurance policy and a savings account into a single, simple-to-manage package. It was created specifically to meet the financial needs of a child. If a parent wants to financially assist their child with schooling or other life objectives, they may invest in this plan. If a parent passes away before the risk arises, the beneficiary is entitled to the death benefit, which does not contain any additional premiums or incentives. If it happens after the deadline, the receiver is entitled to the whole amount covered, plus any reversionary incentives. The death benefit will be at least 125 percent more than the regular payout. When the child reaches the legal age of 20, He or she will be entitled to a portion of the money covered by the survival benefit, which will be dispersed over the next four policy anniversaries. If the insured lives to the policy's maturity age, they will get a maturity benefit as well as any additional benefits that may be available.
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LIC's Kanyadan Policy
The LIC Kanyadan insurance covers your daughter. This policy, unlike others, provides a safety net for your daughter's possible marriage and college expenses. The Life Insurance Corporation of India (LIC) created the Kanyadan Policy to assist parents financially. The Kanyadan Policy protects you while also allowing you to conserve money till the semester's end. As a result, it is an excellent plan for parents, with extremely low premiums and a wide range of guaranteed options.
Conclusion
LIC is a financial services company that offers three types of kid insurance to help mothers save and invest for their children's future. These are both risk-free and lucrative investments. Children's insurance coverage may be useful in this instance. These agreements ensure that a financial corpus is formed regardless of whether the parent is alive or not. The LIC Girl Kid Plans are one type of kid insurance plan that might help protect your child's financial future.
Also read- Is A Premium Waiver Rider For A Child Insurance Policy The Best Option?
