LIC’s Amritbaal Insurance Policy is a little different from other insurance, as this policy is only for children. Life insurance is considered an important aspect of financial planning. Parents are always concerned about their children’s higher education and providing them with a secure future. They invest in their children’s future. If you also think about where to invest for your child and get a guaranteed return, then you can look at the LIC Amritbaal Insurance Policy. LIC has recently launched this insurance policy to meet your child’s financial needs and build a secure future for them.
If you buy this policy offline at a LIC agent, broker, or common public service centre or online at the LIC website www.licindia.in, you can buy it from. If you buy this policy (LIC’s Amritbaal (UIN: 512N365V01)) online, without any agent, you will get discounts like 10% on a limited premium and 2% on a single premium. You can easily cancel the policy if you don’t like it for any reason within 30 days after you buy it. The amount invested in the policy will be returned to your bank account.
Amritbaal Insurance Policy Key Features
Guaranteed return: LIC will additionally give you 80 rupees per thousand every year till the end of the policy so that you can get the maximum return from this policy.
Flexible Life Insurance Coverage: You can choose this policy as per your choice according to your child’s needs and how much money you may need in the future.
Both Payments Options: In this policy, LIC has given you two payment options, which you can choose according to your choice, such as a single premium and a limited premium payment option.
Premium Waiver Benefit: If you die during the policy term, your Amritbaal Insurance policy will be terminated for non-payment of the premium. If you add a premium waiver option to this policy with some additional premium, the policy will continue even after your death.
Loan Facility: If you face any danger in life and you need money, then you can take a loan from this policy.
Amritbaal Insurance Policy Eligibility Conditions
If you want to invest in the policy, you have to follow certain conditions. The minimum age for your child to take this policy should be 30 days, and the maximum age should not be more than 13 years. The minimum age of policy maturity is 18 years, and the maximum age is 25 years. The minimum policy term for limited premium payments is 10 years and for single premium payments is 5 years. The maximum policy term for limited premium payment and single premium payment is 25 years.
Sum Assured
In the event of the accidental death of the policyholder, LIC states that a minimum of Rs 2 lakh will be paid to the policyholder’s nominated nominee, and the maximum amount will be decided by LIC board officials. They give the final sum assured value to the nominee after considering when the policy was issued, for how many years, at what premium, and the sum assured value chosen by the policyholder when taking the policy.
Policy Benefits
Death benefits, maturity benefits, rider benefits, and settlement options.
For more details you can read the LIC Amritbaal Insurance Policy documents pdf here we are giving a link licindia.in/Amritbaal