Child Career Plan Policy
Introduction:
This plan is specially designed to meet the increasing educational and other needs of growing children. It provides the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations.
Options:
You may choose Sum Assured (S.A.), Maturity Age, Policy Term, Mode of Premium payment and Premium Waiver Benefit.
Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or through Salary deductions over the term of policy. Premiums may be paid either for 6 years or upto 5 years before the policy term.
Sample Premium Rates:
Following are some of the sample premium rates per Rs. 1000/- S.A.:
For 6 years’ Premium paying term | |||||
Age |
Maturity Age |
||||
|
23 |
24 |
25 |
26 |
27 |
0 |
111.25 |
107.25 |
103.35 |
99.60 |
95.95 |
4 |
128.35 |
123.80 |
119.35 |
115.05 |
110.90 |
8 |
148.15 |
143.05 |
138.05 |
133.20 |
128.50 |
12 |
170.20 |
164.55 |
159.05 |
153.65 |
148.40 |
For 6 years’ Premium paying term |
|||||
Age |
Maturity Age |
||||
|
23 |
24 |
25 |
26 |
27 |
0 |
111.25 |
107.25 |
103.35 |
99.60 |
95.95 |
4 |
128.35 |
123.80 |
119.35 |
115.05 |
110.90 |
8 |
148.15 |
143.05 |
138.05 |
133.20 |
128.50 |
12 |
170.20 |
164.55 |
159.05 |
153.65 |
148.40 |
Mode and High S.A. Rebates:
Mode Rebate:
Yearly mode |
– |
2% of Tabular Premium |
Half-yearly mode |
– |
1% of the tabular premium |
Quarterly & Salary deduction |
– |
NIL |
Sum Assured Rebate:
Sum Assured |
– |
Rebate (Rs.) |
1,00,000 to 2,99,999 |
– |
Nil |
3,00,000 to 4,99,999 |
– |
1.5 %o S.A. |
5,00,000 and above |
– |
2 %o S.A. |
Source : licindia.in
Kindly advise following enquiry.
Child career plan given to one person , Now they are asking to change the plan from “child career” to “Jeevan chaya”.Policy is made during March 2013.
2) Can we change the term from 18 Years to 6 years.
Awaiting sincere reply.
Your’s
Kallappa
It seems that this policy, child career plan policy is good for the education of the child to get a good career and the coverage is extended to 7 more years after the stipulated age of the child
SIR,
I am chinmaya laxmi samal, my lic of india policy no is-585365763 & 589400546. plz give me answer that what is my next premium date for these policies.