LIC Amritbaal Plan: In the pursuit of securing a prosperous future for our children, parents are continually exploring avenues that not only offer financial stability but also promise substantial returns. Enter LIC Amritbaal Plan – a groundbreaking initiative by the Life Insurance Corporation (LIC) that not only combines insurance but also ensures significant returns.
LIC Amrit Bal Plan: A Unique Offering
This non-linked life insurance policy is specifically crafted to address the future needs of children. Setting it apart is the guaranteed additional sum assured, calculated at a rate of INR 80 per thousand of the basic insurance amount at the end of each policy year. Parents opting for this plan will find themselves on a journey that not only safeguards their child’s future but also provides a lucrative financial avenue.
Age Criteria for LIC Amritbaal Plan Enrollment
To embark on this secure journey with LIC Amritbaal, parents can initiate the plan when their child is a minimum of 30 days old and a maximum of 13 years old. The maturity period ranges from a minimum of 18 years to a maximum of 25 years.
Premium Payment Options
Parents have the flexibility to purchase this policy through both online and offline modes. The minimum sum assured is set at INR 2,00,000, with no upper limit, allowing parents to invest as much as they desire. Premiums can be paid on a monthly, quarterly, half-yearly, or yearly basis, providing further convenience. The minimum premium amount varies, ranging from 5000 to 50000 INR, depending on the chosen payment frequency.
Exclusive Features of LIC Amritbaal Plan
- Guaranteed Returns: From the inception of the policy to its maturity, each policy year concludes with a guaranteed additional sum assured, offering financial peace of mind.
- Flexible Premium Payment Terms: Parents can choose from two options – single premium payment or limited premium payment – and also opt for waiver benefit riders, tailoring the plan to their specific needs.
- Loan Facility: The plan caters to unforeseen circumstances by offering a loan facility. However, it’s important to note that the policy must be in force for a minimum of two years.
Key Points to Consider
- Entry Age: Minimum 30 days; Maximum 13 years.
- Maturity Age: Minimum 18 years; Maximum 25 years.
- Short Premium Payment Terms: Options available for 5, 6, or 7 years.
- Sum Assured: No upper limit; Minimum INR 2,00,000.
- Premium Payment: Monthly, quarterly, half-yearly, or yearly.
In conclusion, LIC Amritbaal Plan emerges as a beacon of financial security for parents keen on nurturing their child’s future. This comprehensive policy, encompassing insurance and guaranteed returns, stands as a testament to LIC’s commitment to empowering families in their pursuit of a brighter tomorrow. To explore this transformative plan, it can be purchased through LIC agents or directly via the LIC website.
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