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LICs Amritbaal Children 874 Plan
LIC of India new children plan going to launch on 17th February 2024 which name is LIC Amritbaal Plan 874 (Table no 874) is a Gauranteed Additions plan. LIC Amritbaal Plan 874 is a limited premium and single premium payment policy, So that you can choose the option of LIC premium payment as per your wish.
LIC’s Amritbaal plan 874 is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan. The plan is specifically designed to have an adequate corpus to meet the higher education and other financial needs of your child and provides risk cover on the life of child during the policy term.
It facilitates accumulation of corpus through Guaranteed Addition Rs. 80 per 1000 Basic Sum Assured throughout the Policy Term.
Eligibility Conditions for LIC Amritbaal
| Minimum Age at entry | 0 years (30 days completed) |
|---|---|
| Maximum Age at entry | 13 years (last birthday) |
| Minimum Age at maturity | 18 years (last birthday) |
| Maximum Age at maturity | 25 years (last birthday) |
| Minimum Policy Term | Limited Premium Payment: 10years Single Premium Payment: 5years |
| Maximum Policy Term | Limited Premium Payment: 25 years Single Premium Payment: 25 years |
| Premium Payment Term | Limited Premium Payment: 5, 6 & 7 years Single Premium Payment: Single Pay |
| Premium Payment Mode | Yearly, Half Yearly, Quarterly, Monthly and Single |
| Sum Assured | Rs. 2,00,000 to No Limit |
Contact Info
- Ooty
- 91 7200528245
- care@licooty.com
- Mon - Sat 09:00 - 19:00 Sunday Enquiry Only
Features:
- Guaranteed Addition 80 per 1000 Basic Sum Assured throughout the Policy Term
- A plan to fulfill requirement child Higher education and Marriage
- Limited premium and single premium payment option available
- Option to choose Life Insurance coverage for your child as per the needs
- Premium waiver rider available in this policy for child safety
- Paid premiums are exempted from income tax under sec 80C
- Maturity amount is tax free under sec 10(10D)
- Flexibility to
- Choose from Single Premium and Limited Premium Payment.
- Choose the maturity age from 18 to 25 years for the various needs of your child
- Opt for payment of benefit in instalments.
- Loan benefits 1% less interest charge if loan taken on her (girl child) policy.
