New LIC Policy: Invest Rs 206 per day for your children and get whopping Rs 27 lakh in 25 years
Life Insurance Corporation (LIC) of India has launched New Children's Money Bank Plan 832, that allows you to invest Rs 206 and get Rs 27 lakh on policy's maturity.
LIC Children Policy: Life Insurance Corporation (LIC) of India has launched New Children's Money Bank Plan 832, that allows you to invest Rs 206 and get Rs 27 lakh on policy's maturity. Parents do everything possible to raise their children well. Increasing expenses of education, health and livelihood, it has become too difficult to provide high-class facilities to children for their better future. But this scheme can eradicate all your worries and tensions, allowing you to invest just Rs 206 per day. The new plan of LIC can not only improve your children's life but also help them fulfil their dreams in future.
Policy matures after 25 years:
The maturity fund of the New Children's Money Bank Plan 832, will be given only after your child attains 25 years of age. For instance, if your child's age is 12 years, the policy will get matured after 13 years. Similarly, if he/she is 5 years old, the policy will get matured after 20 years and so on. In case you avail a policy of Rs 14 lakh, you will be entitled to receive Rs 27 lakh on maturity.
The best feature of the policy is that the person will only have to invest Rs 206 per day. Not only that, the minimum and maximum age of your child can be 0 to 12 years respectively. Investing Rs 206 per day will fetch you Rs 27 lakh after 25 years, as per the policy. The parents can use the accumulated funds for their children's education and betterment.
Policy premium details:
LIC's New Children's Money Bank Plan 832 allows you to pay premiums as per different options. The policyholder can pay the premium for 6 months, 3 months, 1 month or yearly. The minimum policy of Rs 1 lakh can be availed by the parent, while maximum has no limit.
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Premium payment details:
Yearly payment option: Rs 77,334
6 months payment option: Rs 39,086
3 months payment option: Rs 19,750
Monthly payment option: Rs 6,584
The above premium amount is only for the first year of the policy. The policyholder will have to pay the premium for 12 straight years.