This is an Endowment Assurance Plan available for children of less than 12 years of age.
This plan can be purchased by any of the parent or grand parent for a child aged 0 to 10 years.
Under this plan premium payment is limited to 3 or 4 or 5 years and the premium payable during the first year is higher than the premiums payable in subsequent years.
one-fourth of Sum Assured is payable at the end of each of last four years of policy term whether the life assured dies or survives the term of the policy.
The policy provides for the Guaranteed Additions at the rate of Rs.100 per thousand Sum Assured for each completed policy year.
LIC’s Jeevan ANURAG is a with profits plan specifically designed to take care of the educational needs of children.
This is an Endowment Assurance plan designed for the benefit of handicapped dependants.
Thrice the Sum Assured plus all bonuses on the basic sum assured to date is payable in a lump sum upon the death of the life assured.
It provides financial protection against death throughout the lifetime of the life assured with the provision of payment of a lump sum at the end of the selected term in case of his survival.
Tax Benefits can be availed under section 80C and 10(10D) of Income Tax Act, 1961.