LIC investment Rs 150 gets 19 lakh benefits Lic is the most trusted insurance company in the country. Consumers benefit greatly from investing in the policies of this government-run company. In this age of rising inflation, it is imperative for each of us to save a percentage of our hard-earned money and invest it in an insurance policy.
Everyone dreams of a betters future for their children life Insurance Corporation of India has a similar scheme designed to meet the needs of children we are talking about Lic’s ‘lic New Children’s Money Back Plan’
Here are the main points of this policy:
(1) The minimums ages for taking out this insurance is 0 year
(2) The maximum age for taking out insurance is 12 years.
(3) The minimums sum insureds is rs. 1,00,00/-
(4) The maximum sum insured is not limited.
(5) Premium Weaver Benefit Rider – Available as an option
The policyholder receives 20% of the sum insured upon reaching 18, 20 and 22 years of age.
Advantage for adults:
At the maturity of the policy (in the event that the insured does not die during the term of the policy), the policyholder will receive an increased portion of the sum insured with a bonus of 40%.
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In case of death of the policyholder during the term of the policy, a simple reverse bonus check and a final maximum bonus are provided in addition to the sum assured. The death benefit must not be less than 105% of the total premium payment.