CHILD CAREER PLAN
LIC's CHILD CAREER PLAN is specially designed to meet the increasing educational and other needs of growing children. It provides the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations. |
Survival Benefit: |
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LIC’s Child Career Plan gives benefits like The survival benefit which ensures that if the life insured survives till the stated duration he will get the sum assured. If the life insured survives up to five years of expiry of the policy term, he will get thirty percent of the sum assured as well as the bonuses if any. Survival up to four years of expiry of the policy term, fifteen percent of the sum assured is possible. Survival up to three years, two years and one year of expiry of the policy term, brings an eligibility of 15% of the sum assured. If the policy matures 15% as well as the added bonuses is paid. |
Death Benefit: |
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If by any unfortunate incident, the life insured dies, and his death takes place within the date of commencement of risk to five years before the date of expiry of policy term, his beneficiary is eligible to receive the sum assured along with the added bonuses as well as the terminal bonus, if any. If death occurs before the commencement of risk, the beneficiary is eligible to receive all premiums paid as well as the three percent interest that has been calculated per annum. |
TAX SAVING : |
