LIC Child Plans: LIC designs special schemes to safeguard the future of children and ensure the financial security of families. Here, we highlight three such plans that will continue to protect your children's future even in the absence of their parents.

LIC Child Plan Schemes: LIC (Life Insurance Corporation of India) has launched several schemes aimed at securing the future of children. Through these plans, a child's future remains secure even if their parents are no longer around. Thanks to these schemes, children will be able to complete their education and have their marriages arranged smoothly. We are specifically going to tell you about three plans: Jeevan Lakshya, Jeevan Tarun, and the New Children's Money Back Plan. These schemes are highly popular among the public. So, let's take a closer look at these three plans.

Jeevan Lakshya Plan (LIC Jeevan Lakshya)

This is a plan that combines both protection and savings. In the unfortunate event of the policyholder's sudden demise, the family receives a portion of the Sum Assured every year. Additionally, upon the completion of the policy term, the maturity amount along with any accrued bonuses is paid out. This plan is particularly beneficial for parents who wish to secure funds for major future expenses, such as their children's education and marriage.

Jeevan Tarun Plan (LIC Jeevan Tarun)

This scheme is a savings plan designed specifically for children. Payouts under this plan commence once the child turns 20 years old, providing financial assistance to the child in various forms until they reach the age of 25. The primary objective of this scheme is to build a robust financial corpus to support the child's higher education and the commencement of their career.

New Children's Money Back Plan (LIC New Children's Money Back)

This plan offers periodic payouts at regular intervals. Under this scheme, a portion of the Sum Assured is paid out when the child reaches the ages of 18, 20, and 22; subsequently, the remaining balance of the Sum Assured—along with any accrued bonuses—is paid out when the child turns 25. A key feature is that the premium is waived even in the event of the policyholder's death, yet the child continues to receive all the benefits.