Saturday, July 25, 2009

Jeevan Nidhi (Child Insurance Plan)

Example:

Master Rahul is aged 3 years and he is the son of Mr. Rakesh, aged 35 years. Mr. Rakesh takes a Komal Jeevan policy for Rs.10 Lakhs. He opts for Premium Waiver Option and Term Rider Option.


Ø Life risk cover on Master Rahul starts at completing age of 7.

Ø If Mr.Rakesh dies before Master Rahul reaches an age of 18, the payment of future premiums are waived, since Mr.Rakesh had opted for PWB premium. Further Rs.1 Lakh is paid towards Term Rider Benefit being Rs.1 Lakh.

Ø At 18 and 20 years of age, Master Rahul will get Rs.2,00,000.00 each. Likewise, he will get Rs.3,00,000.00 each at age of 22 and 24 years. At age of 26, he will get Rs.17,25,000.00 as Guaranteed Addition. (Rs.75/1000 sum assured for 23 years)


LIC of India’s Komal Jeevan children’s policy has very good investment cum risk plan for citizens. LIC has looked into the need to protect the children in the event of loss of a earning member of the family. Some of the benefits are listed below for the benefit of prospective investors.


Ø Parents interested in protected their own life for the benefits of their children with Premium Waiver Benefit option.

Ø Children’s life is also covered in this policy from the age of 7.

Ø Premium payments options include 10 to 18 years, where the benefits of the policy could be reaped by children till the age of 26.

Ø Proposer could be father/mother of the child. Parent should be an earning member of the family.

Ø Term Rider benefit could be availed upto 20% of the sum assured, maximum of upto 1 Lakhs addition to the PWB.

Ø Guaranteed Addition of Rs.75/1000 sum assured per year of the policy.

Please Contact for more Details on this Policy

Harish Tiwari (Authorised LIC Agent): 9212201725, 9899615363

1 comment:

Simranjeet Singh said...

Various kinds of child insurance products are available in the market. It also secures a child's future in case of any unfortunate event.With a number of children plan available in the market, it becomes difficult for most parents to evaluate them objectively.I think we should compare child plan before taking the plan.