Securing your child’s future is every parent’s top priority. With the rising cost of education and other life milestones, planning early is crucial. Enter LIC’s Amritbaal, a revolutionary child insurance plan designed to offer guaranteed growth alongside life insurance protection. Let’s delve into the details and understand how this plan can be your partner in nurturing your child’s golden years.
Guaranteed Additions Fuel Growth: Unlike market-linked plans, Amritbaal offers stability with guaranteed additions of ₹80 per thousand sum assured added annually from the policy’s inception till maturity. This consistent growth ensures a substantial corpus to meet your child’s future needs, be it higher education, marriage, or starting a business.
Flexibility Tailored to Your Needs: Choose from limited or single premium payment options with policy terms ranging from 5 to 25 years. This flexibility allows you to tailor the plan to your budget and financial goals. For instance, opt for a shorter term with higher premiums for early maturity benefits or spread the payments over a longer duration for a more relaxed approach.
Comprehensive Protection: Rest assured knowing your child is protected in case of unforeseen circumstances. In case of the policyholder’s (parent’s) death during the policy term, the sum assured and guaranteed additions are payable, ensuring your child’s financial well-being is not compromised.
Maturity Options for Future Planning: When your child reaches maturity (between 18 and 25 years), they can receive the accumulated sum assured and guaranteed additions as a lump sum or opt for flexible settlement options in installments over 5, 10, or 15 years. This allows you to plan for their future expenses like higher education or marriage in a structured manner.
Additional Enhancements:
- Premium Waiver Benefit Rider: This optional rider ensures premiums continue to be paid even if the policyholder (parent) dies, safeguarding the plan’s continuity.
- Online Discount: Enjoy a discount on premiums when purchasing the plan online, making it even more affordable.
Key Eligibility Criteria:
- Child’s Age: 30 days to 13 years
- Minimum Sum Assured: ₹2 lakh (no maximum limit)
- Policy Term: 5 to 25 years (depending on premium payment option)
Why Choose Amritbaal?
- Guaranteed Additions: Ensures consistent growth, unlike market-linked plans.
- Flexible Payment Options: Tailors to your budget and financial goals.
- Life Insurance Protection: Provides financial security in case of unforeseen events.
- Maturity Options: Offers flexibility in receiving the accumulated amount.
- Optional Rider: Enhances protection with the Premium Waiver Benefit Rider.
- Online Discount: Makes the plan more affordable.
Taking the First Step:
Visit your nearest LIC branch or their official website to explore Amritbaal further and discuss it with a qualified advisor. Remember, securing your child’s future is an investment in their dreams. With Amritbaal, you can confidently nurture their aspirations and give them the financial headstart they deserve.
Additional Considerations:
- Carefully review the policy document for detailed terms and conditions.
- Understand the exclusions and limitations of the plan.
- Compare Amritbaal with other child insurance plans before making a decision.
- Seek professional financial advice if needed.
Remember, LIC’s Amritbaal is a powerful tool to secure your child’s future. Start planning today and watch your little one blossom into a financially secure and empowered individual!
