LIC Amritbaal Plan – Secure Your Child’s Bright Future with Guaranteed Growth

LIC Amritbaal Plan – Secure Your Child’s Bright Future with Guaranteed Growth

The LIC Amritbaal Plan (Plan No. 874, UIN: 512N365V01) is one of LIC’s most thoughtfully designed child insurance plans. It is a non-linked, non-participating, individual savings life insurance plan aimed at building a strong financial foundation for your child’s dreams—be it education, marriage, or other milestones in life.

This plan allows parents or grandparents to systematically save and create a guaranteed corpus for their child’s future while ensuring financial protection even in case of an unfortunate event.

Key Features of LIC Amritbaal Plan

1. Child-Centric Plan
   Designed exclusively for children between 0 to 12 years of age. The proposer (parent or grandparent) pays the premium and ensures the child’s future is financially secure.
2. Guaranteed Maturity Benefits
   On maturity, the child receives a Guaranteed Maturity Sum Assured, providing a lump sum to meet important life goals like higher education or marriage.
3. Guaranteed Additions
   The plan offers Guaranteed Additions every year during the policy term, ensuring consistent and predictable growth of your investment.
4. Option to Choose Policy Term
   The proposer can select a policy term such that the plan matures when the child reaches the desired age—perfectly aligning with education or life goals.
5. Option to Choose Premium Paying Term
   Flexible premium paying terms are available to suit your financial comfort—either limited payment or regular payment options.
6. Protection Even After Parent’s Demise (Optional Benefit)
   With the Premium Waiver Benefit Rider, in case of the proposer’s death, all future premiums are waived, and the plan continues for the child till maturity—ensuring the child’s future remains protected.
7. Loan Facility
   Once the policy acquires a surrender value, loans can be availed against it to meet short-term financial needs.
8. Tax Benefits
   Premiums paid are eligible for deduction under Section 80C, and maturity benefits are tax-free under Section 10(10D) (as per prevailing tax laws).

Eligibility Criteria

Benefits of LIC Amritbaal Plan

1. Guaranteed Growth: With guaranteed additions every year, your savings steadily grow over time.
2. Child’s Future Secured: Even if something happens to the parent, the child still receives the maturity benefit.
3. Flexibility: Choose the term and premium options that best fit your financial goals.
4. Liquidity: Loan facility helps you manage urgent needs without breaking the plan.
5. Tax Savings: Dual benefit of protection and tax efficiency.

Example Illustration

Suppose you start a policy for your 5-year-old child with a Basic Sum Assured of ₹10,00,000 and a policy term of 20 years.

• You pay premiums for 15 years (PPT = Term - 5).
• Every year, Guaranteed Additions are added to the policy.
• On maturity, your child receives a lump sum amount comprising the Sum Assured + Guaranteed Additions, helping fund higher education or career goals.

Why Choose LIC Amritbaal Plan?

• From India’s most trusted insurer – LIC.
• Provides assured savings and lifelong peace of mind.
• Perfect for parents who want to secure their child’s future early.
• Offers guaranteed returns, protection, and flexibility in one plan.

Conclusion

LIC Amritbaal Plan is not just an insurance policy—it’s a thoughtful financial gift for your child’s tomorrow. By starting early, you can ensure your child’s dreams are never compromised, no matter what life brings. Plan today with LIC Amritbaal and let your child’s future blossom with confidence and security.