News India Live, Digital Desk: The biggest concern of every parent is to meet children’s education and their wedding expenses. If you are also surrounded by these concerns, then LIC’s New Children’s Money Back Plan can remove this concern. Through this plan, you can submit a big amount for your child’s future by making small savings.
What is LIC New Children’s Money Back Plan?
LIC’s New Children’s Money Back Plan is a non-linked, participating, individual, life insurance money back scheme. In this scheme, you have to invest only ₹ 150 daily, through which you have a fund of about ₹ 19 lakhs after 25 years.
When to start investing?
In this scheme, you can start investing anytime from the birth of your child to 12 years of age. This plan has been prepared keeping in mind the expenses like higher study and marriage of children, especially children.
At what age will you get money back?
Under the LIC New Children’s Money Back Plan, your child gets back in fixed percentage when you are 18, 20, 22, and 25 years old:
- 18 years: 20% amount
- 20 years: 20% amount
- 22 years: 20% amount
- 25 years: 40% amount (including bonus)
How will the fund of ₹ 19 lakh be ready?
If you started investing with the birth of your child and deposited ₹ 150 daily, then there will be ₹ 4500 and about ₹ 55,000 annually. Your total deposit in 25 years will be around ₹ 14 lakh, but on maturity you will get about ₹ 19 lakh including bonus and interest.
Payment options
In this scheme, you have an annual, half, quarter or monthly options available for premium payment. You can choose any of these options according to your convenience.
In this way, with LIC’s New Children’s Money Back Plan, you can ensure your child’s safe and bright future by preparing big funds from small savings.
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