LIC offers child insurance plansto secure the future of children , which provide savings and financial support for education, marriage and other important needs. These plans are a mix of insurance and savings, which secure the child’s future even in the absence of the parents.
what LIC does for children:
Saving for future financial needs: LIC child plans help you save money for your child’s education, marriage and other important milestones.
Death Benefit: In case of the unfortunate death of the policyholder, these plans offer a death benefit to secure the future of the child.
Economic Security: Even in the absence of the earning parent, it ensures that the child’s school fees and other financial needs are met.
Flexible Premium Payment: Policyholders can choose monthly, quarterly, half-yearly or annual premium as per their convenience.
tax benefits: The premiums paid may be eligible for tax exemption under Section 80C of the Income Tax Act.
Money-back benefits: In some plans, money-back benefits are provided at certain times at important milestones like child’s education and marriage.
LIC ( Life Insurance Corporation of India ) provides financial security to policyholders and their families. It secures the family’s financial future after your death, allows for lifetime savings , and provides a financial cushion for debts or medical expenses . Besides this, it protects the interests of the policyholders and also contributes to the economic progress of the nation
why do me need LIC
Family Safety: When the head of the household dies, the family receives financial assistance to cover their living expenses, children’s education and other needs.
Financial Security: It provides a financial safety net, especially when an unexpected event occurs that may not be enough to cover family expenses.
Savings opportunity: It offers insurance-cum-savings plans, which encourage people to save and provide maturity benefits along with a fixed sum of money.
Meeting financial contingencies: It provides an additional source of income in case of serious illness, accident or loss of income.
Assistance in repaying debt: It also helps in repaying the loan after your demise, saving your family from additional financial burden.
Contribution in Nation Building: It works in the interest of the nation’s priorities and the overall society by wisely investing the policyholders’ money.
