- LIC Adire Policy
- Low premium
- Huge amount
LIC is offering a New Children’s Money Back Plan. If you take this policy, you will get the money in four installments. Policy term varies based on the age of the child. Generally the policy term is 25 years. The policy term is 24 years if the policy is taken in the name of a child under the age of one year. The policy term will be 20 years if the policy is taken for children under the age of five.
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For example, if you take out a policy in the name of a one-year-old child in the first year of life, the policy term will be 24 years. Suppose you have taken out a policy for an sum insured of Rs.10 lakhs. Now you have to pay a premium of up to Rs.3700 per month. That means saving Rs 125 per day is enough.
Rs 2 lakh will be given to children after the age of 18. Another Rs 2 lakh will be paid at the age of 20 and another Rs 2 lakh at the age of 22. Rs 19 lakh will be given after 25 years. A total of Rs 25 lakh will come to hand. This policy is only available to children under 12 years of age.