Child Career Plan:

LIC's Child Career Plan is a complete plan designed to take care of your child's education and thereafter.  This plan gives full security to the life of the child during the policy term.

Child Career Plan is an affordable plan which helps you to take care of the financial side of your child's education and allow him to achieve his career dreams.

LIC's Child Career Plan gives benefits like
The survival benefit which ensures that if the life insured survives till the stated duration he will get the sum assured.  If the life insured survives up to five years of expiry of the policy term, he will get thirty percent of the sum assured as well as the bonuses if any.  Survival up to four years of expiry of the policy term, fifteen percent of the sum assured is possible.  Survival up to three years, two years and one year of expiry of the policy term, brings an eligibility of 15% of the sum assured.  If the policy matures 15% as well as the added bonuses is paid.

If by any unfortunate incident, the life insured dies, and his death takes place within the date of commencement of risk to five years before the date of expiry of policy term, his beneficiary is eligible to receive the sum assured along with the added bonuses as well as the terminal bonus, if any.

If death occurs before the commencement of risk, the beneficiary is eligible to receive all premiums paid as well as the three percent interest that has been calculated per annum.

Since this a business related plan, the life insured will be given additional bonuses coinciding with the profits made in the market.

You are permitted to surrender your policy if you wish to do so after you have completed three full policy years.  You will have to pay the surrender value to terminate the policy.

You have the benefit of a grace period which amounts to thirty days time to pay your premium.

LIC's Child Career Plan is a tailor made policy which secures your child's educational and careers aspirations and also provides your child with a financially secure and comfortable life after that.