Business
New insurance policy brought by LIC, Specially designed for Children, know its benefit
LIC Amritbaal Plan 874: The government insurance company LIC has launched a new insurance plan. Its name is ‘LIC Amritbaal’. It is also known as ‘Plan 874‘. It is specially designed for children.
In a sense, it is also a child insurance policy. General public will be able to buy this policy from 17 February 2024 only. Let’s find out what benefits you will get under this policy.
LIC Amritbaal Plan 874 is a personal, savings and life insurance plan from the country’s largest insurance company. It is specifically designed in such a way that it will generate adequate funds for the higher education of children. In addition, it will also fulfill other needs of children.
Rs.80 Profit on Rs.1000: In this scheme, LIC offers an assured return at the rate of Rs.80 for every Rs.1000 assured.
The special thing is that this return of Rs.80 is added to the sum assured of the insurance policy.
LIC Amritbaal Plan 874: If you have insured Rs 1 lakh in your child’s name. In such a case, LIC will add a sum assured of Rs.8000 to your sum assured. This guaranteed return will be added every year at the end of the policy year and will continue till the end of the entire policy period.
This policy can be taken for children from 30 days to 13 years of age. The minimum maturity age of this policy is 18 years and maximum 25 years. Short term premium payment terms of 5, 6 or 7 years are available for this policy. Where the maximum premium payment period is 10 years.
LIC Amritbaal Plan 874: If you want to choose the single premium payment option, you can also choose it. So under this plan you have to take a minimum sum assured of Rs 2 lakh. You can take maturity solutions like money back plans in 5, 10 or 15 years.
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