LIC’s Jeevan Ankur – A Unique Children Life Insurance Plan

LIC has introduced a unique children life insurance plan particularly structured to cater the educational and other requirements of your child. LIC’s Jeevan Ankur has been designed with the sole purpose of helping you realize a lustrous future for your child. LIC’s Jeevan Ankur policy is a “with profits” conventional plan.

If you have a child aged upto 17 years, LIC’s Jeevan Ankur will provide the helping hand to ensure that your responsibilities as a parent are suitably met whether you are alive or not and without depending on anybody.

In Jeevan Ankur the parent’s life is assured and the child is treated as the nominee. It has main benefits which include maturity benefit, death benefit and loyalty additions as well. The other optional benefits include the rider benefits in the form of Accident Benefit Rider and Critical Illness Rider.

Some of the benefits of Jeevan Ankur Life Insurance policy are illustrated hereunder so that you have a clarity regarding the working of the plan. As regards the death benefits, on the death of the life assured, that is the parent, basic sum assured shall be payable to the nominee and 10% of basic sum assured as an income benefit shall be payable on each policy anniversary till the end of the policy term. Also an assured maturity benefit which includes the basic sum assured along with loyalty additions, if any, shall be payable at the end of the policy term, irrespective of the survival of the life assured. As already mentioned, the policy will also be eligible for Loyalty Addition on the stipulated date of maturity irrespective of survival of life assured.

The important eligibility conditions and restrictions under the LIC’s Jeevan Ankur have been briefly mentioned for your benefit. The minimum sum assured is Rs.100, 000. The minimum and the maximum age at entry for life assured are 18 years (completed) and 50 years (nearest birthday) respectively. The maximum maturity age for the life assured has been kept as 75 years (nearest birthday). The minimum and maximum age at entry of child is 0 years (last birthday) and 17 years (last birthday) respectively. The minimum term of the policy is higher of (18 – age of child, 8) years and maximum term of the Jeevan Ankur plan is (25 – age of child) years.
The complete details of the LIC’s Jeevan Ankur Life Insurance Plan can be had from the URL:

http://www.licindia.in/children_need_0010_sales_brochure.htm

So as a parent if you want to secure the future of your child and help your child realize his or her dreams then LIC’s Jeevan Ankur Insurance plan is one of the best ways to do it and fulfill your responsibility as parents.