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Chanakya Kalita

Question

What is the best children insurance plan from LIC, India

Asked By: Chanakya Kalita
On: 24th Apr 2012 1:46 PM
Answered Within: 1 Days

MIC Expert

Answer

Dear Chanakya Kalita

There are many child insurance plans from LIC which are good, hence you need to choose the one that best suits your needs.

If you need a Child Money Back plan with benefits in the last few years for the child's ecucational expenses, etc. then you can choose

LIC Komal Jeevan Plan
LIC Child Future Plan
LIC Jeevan Chhaya Plan

If you need a plan especialy for the child's educational expenses then you can choose LIC Jeevan Anurag.

If you need a plan where the rights of ownership should be transferred to the child after certain period then you can choose LIC Children's Deferred Endowment Assurance Plan Vesting at 18.

Alternately, you could choose LIC Jeevan Ankur Plan. It is a traditional insurance plan which is not market linked. It is a participating plan which means that Bonus will accrue to the plan depending on the performance of the company. In this plan, the life of the parent is insured. In case of the death of the policy-holder, the nominee will get the Basic Sum Assured immediately and additionally 10% of the Basic Sum Assured will be paid to the nominee till date of maturity of the plan. On maturity, the Basic Sum Assured + Bonus is also paid out.

Answered By: MIC Expert
On: 25th Apr 2012 6:17 PM

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