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LICs NEW CHILDRENS MONEY BACK PLAN

LICs NEW CHILDRENS MONEY BACK PLAN (UIN: 512N296V01)
LIC's New Childrens Money Back Plan is a participating non-connected money help going on
mean. This plot is specially intended to meet the educational, marriage and marginal needs
of growing children through Survival Benefits. In tallying, it provides for the risk
lid concerning the cartoon of child during the policy term and for number of relic assistance regarding
remaining to the decline of the specified durations.
The mean can be purchased by any of the parent or grand parent for a child aged 0 to 12
years.
1. Benefits:
Death mitigation:
On death of the Life Assured in the previously the stipulated Date of Maturity provided the
policy is in full force, subsequently
On death of the Life Assured previously the date of foundation of risk: Return of
premium/s excluding taxes, subsidiary premium and adjunct premium, if any.
On death after the date of establishment of risk:
Death along also, defined as sum of Sum Assured in marginal note to Death and vested Simple
Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where
Sum Assured in bank account to Death is defined as Higher of 10 time of annualized premium
or Absolute amount Assured to be paid regarding Death i.e. Basic Sum Assured.
This death as well as shall not be less than 105% of the sum premiums paid as around date
of death.
The premiums mentioned above exclude taxes, option premium and adding together premium,
if any.
Survival Benefit: On the Life Assured permanent the policy anniversary coinciding
once or tersely behind than the press to the fore of ages 18 years, 20 years and 22
years, 20% of the Basic Sum Assured upon each occasion shall be payable, provided
the policy is in full force.
Maturity Benefit: On the Life assured enduring the stipulated date of maturity,
provided the policy is in full force, Sum Assured upon Maturity ( which is 40% of the
Basic Sum Assured) along subsequent to vested Simple Reversionary Bonuses and Final
Additional Bonus, if any, shall be payable.
Participation in Profits: The policy shall participate in profits of the Corporation
and shall be entitled to obtain Simple Reversionary Bonuses declared as per the
experience of the Corporation, provided the policy is in full force.
Final Additional Bonus may as well as be declared under the policy in the year later the
policy results into a allegation either by death or maturity.
2. Optional Benefit:
a) Option to put off the Survival Benefit(s): The policyholder will have choice to put up following
the survival gain at any times upon or after its due date but during the currency of
the policy. In exploit of suspension of a due survival lead (s) opted by the
policyholder, the Corporation will pay increased survival lead (s) equal to
Survival Benefits % * Sum Assured * (Factor applicable to Survival Benefit (s))
These factors are enclosed as Annexure I.
This abnormal shall be required to be intimated in writing by the policyholder six
months in the forward the due date of the Survival Benefit to the servicing branch of
policy.
b) LICs Premium Waiver Benefit Rider (UIN: 512B204V01): LICs Premium Waiver
Benefit Rider is fresh as an optional adding happening upon the energy of proposer aged
along in the midst of ages 18 to 55 years by payment of add-on premium. In act of death
of the proposer, the premiums below the basic strive for falling due after the date of
death shall be waived. The cost of medical and special reports shall be borne by
the proposer. This adding taking place shall not accomplish in the shape of death of the proposer by
his own hands whether sane or insane within 12 months from the date of
issuance of First Premium receipt or within 12 months from the date of revival.
For more details upon the above rider, tackle the rider brochure or entre LICs
nearest Branch Office.

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