News India Live, Digital Desk: Children’s education and then their marriage… all of them cost millions of rupees, we all know this. It is not easy for everyone to deposit such a huge amount simultaneously. In such a situation, many people adopt the way to secure the future of children by making small savings.
If you are thinking something similar, then LIC’s ‘Children’s Money Back Policy’ can be a very good option for you. This policy not only arranges money for the future of your children, but also provides money at the time of need, so that you can do better planning for their coming tomorrow.
Think, if you save only ₹ 150 daily, then through this policy, you have closer to maturity (maturity) ₹ 19 lakhs Fund of can be ready! If you also want to create a safe future for your children, then you must know about this special ‘Children Money Back Policy’ of LIC. Let’s understand it in easy language.
What is LIC Children Money Back Scheme?
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For whom: You can take this policy in the name of a child from 0 to 12 years.
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How long does it last: The policy is matured when the child turns 25 years old. (Example: If the child is 5 years old, the policy will last 20 years).
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When do you get money: A special thing about this policy is its ‘Money Back’ feature. Even before the policy is completed, when your child 18, 20 and 22 years Of the total amount of policy (basic sum assured) 20-20% You get part. These money can be used in a child’s education or other needs.
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What is found on maturity: And then, when the child is 25 years old, the policy matures. At this time the remaining 40% amount With bonus I get a lump sum. This is a large amount which can prove to be very helpful for marriage or further studies.
How to save ₹ 150 daily will make a fund of ₹ 19 lakh?
Let’s make an idea. Suppose, you start saving ₹ 150 daily in this policy from the time of birth of your child: ₹ 150 daily:
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Rose savings: ₹ 150
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Annual savings: About ₹ 55,000 (150 x 365)
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Total deposit in 25 years: About ₹ 14 lakh (55,000 x 25)
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Estimated amount on maturity: About ₹ 19 lakhs (This includes bonus etc.)
So you can see that by depositing around ₹ 55,000 annually, you deposit a total of ₹ 14 lakh in 25 years. But by adding interest and bonus, you get a huge amount of about ₹ 19 lakh on maturity, which can be very useful for the future of the child.
(Note: These figures are for example, real returns and bonus rates may be different. Contact LIC agent for accurate information.)
So this was LIC Children’s Money Back Policy information, which can help you fulfill the big dreams of children with small savings.
