Mumbai: LIC introduced a new Plan called ‘LIC’s Amritbal‘is designed to meet the expenses related to child’s higher education, The plan is personal, SavingsLife insurance plans are specifically designed to accumulate a corpus to meet the higher education and other needs of the child.
It provides a guaranteed additional sum at the rate of Rs 80 per thousand of Basic Sum Assured from the beginning of each policy year till the end of the policy term, provided the policy is in force. The minimum age for entry into the scheme is 0 years. And the maximum entry age is 13 years. The minimum age at maturity is 18 years, while the maximum age at maturity is 25 years. Short premium payment terms of 5, 6, or 7 years are available. The minimum policy term is 10 years for limited premium payment and 5 years for single premium payment.
It provides a guaranteed additional sum at the rate of Rs 80 per thousand of Basic Sum Assured from the beginning of each policy year till the end of the policy term, provided the policy is in force. The minimum age for entry into the scheme is 0 years. And the maximum entry age is 13 years. The minimum age at maturity is 18 years, while the maximum age at maturity is 25 years. Short premium payment terms of 5, 6, or 7 years are available. The minimum policy term is 10 years for limited premium payment and 5 years for single premium payment.
