CHILD EDUCATION & MARRIAGE PLAN

  • This plan is combination of few plans and is specially designed keeping in mind the two important aspects of children i.e. Education and Marriage.
  • Best suited for a newly born child.
  • Children will receive money regularly from age 18 to 25 years which will help in their education and marriage.
  • In case of sudden demise of any parent, future premium will be waived off and child will receive the same amount at the same time as decided while taking policy.
  • Also certain amount will be paid to the family along with waiver off premium for children’s basic education purpose.
    Double tax benefit of section 80 C& 10 (10D).
  • All in one combo for child’s education and marriage purpose.

An Illustration: At the Basic Sum Assured (BSA) of 9 Lac

CHILD EDUCATION & MARRIAGE PACKAGE
Age of Father30 Years
Age of Child0 Years
Annual Premium: Nearly ₹ 45,000
On Survival: Earns Money at the right time
Age of ChildAmount Receivable
18₹ 1 Lac
19₹ 1.90 Lac
20₹ 1 Lac
21₹ 2.10 Lac
22₹ 1 Lac
23₹ 2.30 Lac
24₹ 2.40 Lac
25₹ 10.25 Lac

On unfortunate death of father during term of the policy, Nominee will get ₹4,00,000 immediately& all the future premiums will be waived off & Educational expenses will be covered as under.

Age of ChildAmount Receivable
Next year from date of death₹ 40,000 per year
18₹ 1.40 Lac
19₹ 2.30 Lac
20₹ 1.30 Lac
21₹ 2.40 Lac
22₹ 1.20 Lac
23₹ 2.50 Lac
24₹ 2.50 Lac
25₹ 10.25 Lac

Disclaimer: “Child Education & Marriage Package” is a concept name only and it’s not a direct product of LIC, this is a combination of various plans and the plans used for combination are of LIC of INDIA.

 

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