Children Plans
As individuals it is inherent to differ. Each individuals insurance needs and requirements are different from that of the others. LICs Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement.
UIN
512N365V01
Plan no-774
Product Summary
LIC’s Amrit Baal is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan. This is an Endowment plan with Guaranteed Additions designed to meet higher educational and other needs of children.
Under this plan, the premium can be paid either as Limited Premium with premium payment term of 5, 6 or 7 years or as Lump sum (Single Premium). The proposer will have an option to choose “Sum Assured on Death” as per the two options available under each of Limited Premium and Single Premium payment.
This Plan can be purchased Offline through agent /other intermediaries including Point of Sales Persons-Life Insurance (POSP-LI) / Common Public Service Centers (CPSC-SPV) as well as Online directly through website www.lbsfinlife.com
ELIGIBILITY CONDITIONS AND RESTRICTIONS FOR BASE PLAN
| i | Minimum Age at Entry | 0 years (30 days completed) |
| ii | Maximum Age at Entry | 13 years (last birthday) |
| iii | Minimum Age at Maturity | 18 years (last birthday) |
| iv | Maximum Age at Maturity | 25 years(Completed) |
| v | Minimum Policy Term | Limited Premium Payment: 10 years Single Premium Payment: 5 years |
| vi | Maximum Policy Term | Limited Premium Payment: 25 years Single Premium Payment: 25 years |
| vii | Premium Payment Term | Limited Premium Payment: 5, 6 & 7 years Single Premium Payment: Single Pay |
| vii | Minimum Sum Assured | Rs. 2,00,000/- |
| ix | Maximum Basic Sum Assured | No Limit. However, the maximum Basic Sum Assured allowed to each individual will be subject to underwriting decision as per the Board Approved Underwriting Policy. |
| x | Basic Sum Assured Multiples | The Basic Sum Assured shall be in the multiples ofamount specified below:Basic Sum Assured RangeBasic Sum Assured Multiple (Rs.)From Rs. 2,00,000/- to Rs. 24,00,000/-25,000/-above Rs. 24,00,000/-50,000/- |