LIC New Children Money Back Plan Details

LIC New Children Money Back Plan is a regular premium plan and comes under Table No. 932. LIC New Children Money Back Plan is available for the children of 0 to 12 years age.

Example of New Children Money Back Plan

The calculation of LIC New Children Money Back Plan is shown in Figure 1. Suppose a 25 years old person buy LIC New Children Money Back Plan for his new born baby. He bought LIC New Children Money Back Plan with 10 lakh sum assured. He has to pay 3,689 monthly premium for 25 years. Under LIC New Children Money Back Plan, child will get 4 maturity:

1. At the age of 18, Child will get 2 lakh rupees.
2. At the age of 20, Child will get 2 lakh rupees.
3. At the age of 22, Child will get 2 lakh rupees.
4. At the age of 25, Child will get 19 lakh 75 thousands rupees.

Under LIC New Children Money Back Plan, child will get variable life insurance. The life insurance of child will varies from 11 lakh 35 thousands to 25 lakh 75 thousands from the age of 2 to 25 years. At the age of 20, the life insurance value of child will be 20 lakh 45 thousands.

Figure 1 Calculation of LIC new children's money back plan.

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