Convert LIC's New Child Money Back plan into endowment plan

Convert LIC's New Child Money Back plan into endowment plan

Life Insurance

LIC of India’s new plan Children Money Back Plan (Table No. 832) provides money back at policy anniversary coinciding are falling after 18th, 20th and 22nd birthday. Money back is equal to the 20% of the basic sum assured in the policy. But many people don’t like the money back policy want the endowment plans so that they can get a lump sum amount after a fixed interval of time.

The New children money back plan has a unique feature to reinvest the survival benefit with LIC itself and later it can be taken with interest already decided by LIC. Continue reading “Convert LIC's New Child Money Back plan into endowment plan”