Jeevan Anurag - LIC Child Plans - Cherished Policy For Your Child

Each parent attempts to accomplish every possible desire and dreams of their child. LIC Child plan helps you in securing the financial future for your child. If you purchase any one of the child plan, you can save funds for your child's education, marriage, and some other financial needs. Every child plan offers financial security for your child's future. Buying of children plans in a proper manner can be very advantageous to you as well as for your near ones (family). The child plan assists in saving funds for future commercial enterprise demands. It provides insurance cover for the child. The sum assured is paid to the child at the maturity of the child along with some bonuses.

It seems that, in some child plans the parent is the life insured. If the untimely death of the life assured (parent) occurs, the future premiums are waived off and are paid by the insurance company and the plan is continued in the normal and simple way. In some other child plans, child is a life assured. The coverage on the child's life starts after the child attains a specified age. In child insurance plans, normally risk starts after the child completes seven years or five years of policy. Child plans are ideal in every aspect as it inspires you to save funds consistently and create an enormous collection for your child, be it a higher education or marriage.

Various categories of the child plan are available in the market that will save your child's future from any ups and downs. Some of the plans include, child career plan (it is specially formatted to meet the increasing educational and some other requirements of your growing child and usually provides the risk cover), marriage endowment (this plan provides a sum assured that is to be kept aside for expenses of marriage), komal jeevan (it is the plan that provides the best education to your child, this policy automatically vest in the life assured), jeevan kishore (this policy is issued with profit, but bonus for a waiting period will vest immediately on the completion of one year policy), child future plan (this is the new profit plan. It meets the increasing educational and other need of your child).

Among all the plans, jeevan anurag is along with the profits especially formulated to take care of the educational needs of children. The assortment of benefits under this plan is payable at the prespecified time irrespective of whether the life assured survives till the end of the policy. Under this plan two main benefit are available:

Death benefit: Payment of an amount that is equal to sum assured under this basic plan immediately given on the death of the life assured.

Assured benefit: At maturity, 40% of the basic sum assured along with some bonuses that are announced from time to time on the full sum assured for the full team and the terminal bonus.

Under this policy, if at least three full year's premiums have been paid in respect of this policy, any subsequent premium is not duly paid.

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