LIC’S CHILD CAREER PLAN
Introduction:
This 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).
Example:
Name of the Proposer : A. Sundera Selvan
Name of the child :
Baby Age : 4
Policy amount : Rs. 2 Lacks
Policy Term : 20 yrs
Premium Paying Term : 15 yrs
Premium : Rs. 12,789(Yearly)– Rs. 6460( Half yearly)
Total Payable amount : 15*12789= Rs. 1,91,835
Policy Benift : 2,00,000 – 1,91,835 = Rs. 8165
PERIOD AMOUNT
Before 5 years on Maturity 60,000+20,000
Before 4 years on Maturity 30,000
Before 3 years on Maturity 30,000
Before 2 years on Maturity 30,000
Before 1 years on Maturity 30,000
Maturity 2,25,000
Total amount 4,25,000
Premium waiver Benefit : Available ( i.e.. incase Proposer is not alive child do not pay any premium)
Loan : Not Available
Proposer : Father or Mother
