LIC Special Scheme for Children’s Future, Get Double Benefits on Investment

LIC Special Scheme: Every parent wants their child’s future to be secure. In today’s times, this concern is even greater due to rising inflation. Making the right investments in a timely manner for education, career, and other needs has become extremely important. If you are also looking for a reliable investment option for your child’s future, this information can be beneficial for you.

Today, we are telling you about a special scheme from the country’s largest government insurance company, Life Insurance Corporation of India (LIC), in which you can invest in your child’s name and build a good fund for the future. The special feature of this scheme is that it provides both savings and insurance protection.

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What is the LIC Amrit Bal Policy?

LIC’s Amrit Bal Policy is a non-linked insurance scheme, specifically designed keeping in mind the future of children. Through this scheme, parents can create a strong financial fund for their child over the long term. Along with this, the benefit of insurance coverage is also available during the policy term.

Who can take this policy?

The LIC Amrit Bal Policy can be taken for children who are at least 30 days old. The maximum age limit for entry into this scheme is 13 years. This means that parents can start investing in this scheme even for their young children.

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Investment Amount and Maturity Period

In this policy, it is mandatory to choose a minimum sum assured of Rs. 2 lakh. The good thing is that there is no maximum limit set for the investment. The maturity period of the policy can be a minimum of 18 years and a maximum of 25 years. The policyholder receives the maturity amount only after the completion of the stipulated period.

Returns in LIC Amrit Bal Policy

In this scheme, a return of Rs. 80 is given for every Rs. 1,000 of sum assured while the policy is active. Parents can pay the premium monthly, quarterly, half-yearly, or annually, according to their convenience. The premium amount depends on the child’s age, the chosen sum assured, and the policy term.

Overall, LIC’s Amrit Bal policy can be a good option for parents who want to secure their child’s future while also providing insurance coverage. If you are planning a reliable long-term investment, this scheme could prove beneficial for you.

About the Author

Adarsh P

Adarsh ​​Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh ​​has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on...

Adarsh@timesbull.com Author at TimesBull TimesBull
Adarsh ​​Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh ​​has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on facts. Adarsh ​​holds a Master's degree in Journalism from Kanpur University and enjoys reading books and writing poetry.
Adarsh P - Author at TimesBull
About the Author

Adarsh P

Adarsh P - Author at TimesBull

Adarsh ​​Pal is a content writer at Timesbull Media. He specializes in writing news related to industry updates, the automotive sector, banking, telecommunications, the travel sector, and personal finance. Adarsh ​​has previously worked with several digital media channels. He is skilled at presenting news accurately and disseminating information based on...