Amrit Baal LIC Children Plan

Amrit Baal Children Educational plan In an unpredictable world, parents of loving children—boys or girls—want a plan that allows them to save a specific amount over the course of five, six, or seven years, and that their children will receive this amount plus an additional sum guaranteed when they are between the ages of eighteen and twenty-five. The greatest choice in that case is LIC Amrit Baal. It provides guaranteed returns, is free from market risk and volatility, and the policy bond will contain all of the information. Premium waiver, tax benefits, and settlement maturity are all included in the "LIC AMRIT BAAL" plan. Entra Age 30 days to 13 years last birthday Minimum Sum Assured 2 lakh and maximum no limit Maturity Age 18 Years to 25 years Term - Single Premium and regular premium 5 years , 6 years and 7 years Maturity Sum Assured on Maturity" and accrued Guaranteed Additions for the in-force policy will be payable. "Sum Assured on Maturity" is equivalent to the Basic Sum Assured. The Guaranteed Addition will be Rs 80/1000 of the Sum Assured annually. That is Rs 8000 per year per lakh. Mode of Payment: Yearly, Half Yearly or Single Premium Riders available in LIC Amrit Baal: Regular Premium: Premium waiver Benefit. Tax Benefits: Regular Premium: u/s 80C the premium is tax free. Maturity / Death claim : Tax Free u/s 10(10D) Single Premium: u/s 80C up to 10% of Basic SA Maturity: Taxable (If Basic SA is less than 10 Times of Single Premium), Death Benefit: Tax Free u/s 10(10D) Why Amrit Baal is best for your children? The policy holder under the LIC Amrit Bal plan will receive the best returns, and that too assured, free from any danger or fluctuation in the stock market. Every lakh sum assured will receive an annual addition of ₹8000; no other child plan offers this kind of returns. Why should people choose LIC Amrit Baal? The foundation of LIC Amrit Bal is short-term premium payment conditions. One can provide finances for the future of his children by investing for a shorter period of time—5, 6, or 7 years—if they feel that they won't want to pay the premium for an extended period of time. From the start date till the maturity date, LIC will raise the amount of money with guaranteed additions. A special feature of choosing high or low insurance coverage? Tax advantages are available to parents in addition to the fund's growth. The ability to customize Amrit Bal to your desired level of insurance is a nice feature. For your convenience, four distinct options are provided. At any time, you can decide how much insurance you want to take on or how little. You will be required to pay an extra premium if you decide to purchase additional insurance. LIC Amrit Baal may act as long-term FD with guaranteed returns for your loved ones Similar to a fixed deposit (FD), the LIC Amrit Baal plan operates. You may designate a period of 18 to 25 years for your children's lump sum deposit, and LIC will augment the fund with guarantee additions of Rs 8000 p.a. for each lakh of Sum Assured, guaranteeing a guaranteed and tax-free maturity. LIC Amrit Baal is the best gift from grandparents for their grandchildren. The LIC Amrit Bal plan is offered in a single premium form as well. Therefore, grandparents may also offer their grandchildren this coverage as a mark of their affection. Short term that too with a premium waiver benefit option Amrit Bal is distinguished by the fact that it can be applied to a kid as young as 30 days old. Though LIC Amrit Baal offers premium payment terms of 5, 6, or 7 years, the proposer can opt for premium waiver benefits, which means that if anything goes wrong with the proposer, all future installments will be waived, and the family will not be burdened with paying these installments. List of documents to buy LIC Amrit Baal Plan Photo Age Proof : Pan, Aadhar, DL, School Certificate, Passport (any one) Address Proof : Adhaar, DL, Voter Id, Passport, utility bill (any one) Bank Detail: Cancel Cheque with name printed on it | Bank Passbook | Bank Statement (any one) Nominee's Id proof: Pan, Aadhar, DL, Voter Id, Passport (any one) Income proof : ITR's for 3yrs with computation. For salaried person Form 16 or Latest salary slip for 3 months with bank statement.