6 Replies to “Which is the best LIC’s insurance plan for my child?”

  1. Insurance is not an avenue for INVESTMENT.

    Go for a combination of PPF / SIP IN MUTUAL FUNDS / DIRECT EQUITY.

    Avoid child plans.

    Having said this , have enough PURE TERM COVER for yourself.

  2. Why does your child need any life insurance. He’s dependent on you not you are dependent on him. Asking such kind of questions are the reason for misselling. I would advice you same as by Mr. ranjankar. as to never mix Insurance with investment. These child plans will neither give you enough life insurance cover nor will help you in accumulating enough money for your child’s future. Better to use PPF?MF for investment and Pure term plan for Insurance.

  3. HDFC Child Plan Double Benefit ( Awarded by IRDA – insurance regulatory & devolopment authority of india – as best child plan )

  4. hi,

    LIC’s most recent offering LIC Jeevan Ankur Plan would be best suited for you.

    This is a child benefit Endowment Plan where the parent is the Life Insured and the child is the nominee. This plan has been especially designed so that the benefits are payable for the child’s future even if the parent does not survive till the end of the policy tenure.

    In this plan, premium needs to be paid till the end of the policy tenure.

    The Sum Assured + the Loyalty Additions would be paid as Maturity Benefit irrespective of whether the Life Insured is alive or not.

    However, if the Life Insured, i.e. the parent dies within the policy tenure, the basic Sum Assured is paid as Immediate Death Benefit and the policy continues.

    There is a further payment of 10% of the Sum Assured every year from the date of death of the Life Insured till the end of the policy tenure as Income Benefit. The Maturity Benefit is paid when the policy tenure is over.

    Contact me on 9757332393 or visit http://www.buylic.in for more details.

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