LIC Jeevan Tharun Policy for children introduced!
Posted on: 19/May/2015 2:39:38 PM - No. of views : (3598)
LIC (Life Insurance Corporation of India) has introduced a new policy exclusively for children.
The policy, known as �Jeevan Tharun�, is meant for meeting the children�s needs on education & marriage.
Children from 90 days of age up to 12 years of age can join.
The policy matures when the child completes 25 years of age.
Minimum insurance amount is Rs. 75000/-.
There is no maximum limit.
The policy holder can decide the education expense of the child.
As per the decision, at the completion of 20 years of age, 5% of the policy amount can be got back. At the end of 21 years, 10% can be got back.
At the end of 24 years, 15% can be got back.
Another option is to get back the policy at the maturity stage when the child completes 25 years for marriage expenses.
Child insurance policy starts from the 8th year or 2 years after the policy was started.
There is a facility to get loans at the end of the 2nd year itself.
The premium paid on the child insurance policy is exempt from Income Tax.
