LIC NEW CHILDREN MONEY BACK PLAN

LIC'S NEW CHILDREN'S MONEY BACK PLAN

Non-linked, With profits, Regular Premium Payment Money Back Plan No.832 launching wef 4th March 2015.

ELIGIBILITY CONDITIONS-

Minimum Entry Age= 0 yrs LBD;

Maximum Entry Age= 12 yrs LBD;

Policy term= 25 yrs minus entry age;

Maturity Age= 25 yrs;

Minimum Basic Sum Assured= Rs.1 Lac;

Maximum Basic Sum Assured= No Limit.

DATE OF COMMENCEMENT OF RISK-

a) for age of LA below 8 yrs= 2 yrs after DOC;

b) for those aged 8 yrs & above= immediately.

SURVIVAL BENEFIT-

On Policy Anniversary coinciding or following completion of 18 yrs, 20 yrs & 22 yrs of age, 20% of BSA will be payable on each occasion for inforce policies.

OPTION TO DEFER THE SURVIVAL BENEFIT-

Provided the LA has intimated his desire to opt for SB at a later date, atleast 6 months prior to the due date of SB, the Corporation will pay him SB at an increased rate as per available factors.

MATURITY BENEFIT-

Balance of 40% of BSA alongwith Simple Reversionary Bonus & FAB, if any.

DEATH BENEFIT-

a) Before commencement of Risk= Refund of premiums, excluding taxes, extra premium & rider premium, if any;

b) After Commencement of Risk= Death SA + Simple Reversionary Bonus + FAB, if any.

PREMIUM BENEFIT RIDER-

Available to proposer from either DOC or at any time during policy term, but before 5 yrs of maturity.

MODES OF PREMIUM PAYMENT-

Yly, Hly, Qly, Mly ECS & SSS.

REBATES-

a) Mode Rebate= 2 % on Yly mode & 1% in Hly mode;

b) SA Rebate= Rs.2%0 on SA Rs.2 Lacs to Rs.4.90 Lacs & Rs.3%0 on SA Rs.5 Lacs and above.

SURRENDER VALUE/LOAN=

Available after payment of 3 Yly premiums.

Friends, we have been waiting since long for a product which covers child segment. The time has come now. Let's focus on this product and encash the benefit by selling maximum policies under this plan .