Skip to content
👶 What is LIC Child Plan?
- A life insurance-cum-savings plan designed to secure a child’s future needs
- Helps in funding major life events like education, marriage, or career goals
- Offers financial protection even in the absence of the parent (policyholder)
✅ Key Features
- Child-Centric Savings: Designed to accumulate funds for a child’s future milestones
- Waiver of Premium: In case of the parent’s (policyholder’s) death, future premiums are waived, and the policy continues
- Maturity Benefit: Lump sum amount paid at maturity to support child’s higher education or other needs
- Bonus Facility: Eligible for reversionary and final additional bonuses
- Flexible Payout Options: Some plans offer staggered payouts to align with education stages
- Tax Benefits: Premiums eligible for deduction under Section 80C, and maturity benefits under Section 10(10D)
💡 Benefits
- Security for Child’s Future: Ensures financial support even if something happens to the parent
- Long-Term Planning: Supports higher education, marriage, or career goals
- Peace of Mind: Parent’s responsibility is protected by life cover and guaranteed payouts
- Loan Facility: Available after certain years of policy commencement
📄 Eligibility Criteria (Varies by Plan)
- Entry Age for Child: From birth to around 12 years
- Entry Age for Parent (Policyholder): Typically 18 to 50 years
- Policy Term: Up to 25 years (or till child reaches 25 years)
- Minimum Sum Assured: ₹1,00,000 (varies by plan)
🧾 Popular LIC Child Plans
- LIC Jeevan Tarun: Designed for education and marriage with survival benefits
- LIC New Children’s Money Back Plan: Offers regular payouts and maturity benefits
- LIC Child Future Plan (Discontinued): Previously popular for comprehensive child security
