Children Plan
Give your child the gift of a secure future — plan today for their education, career, and every important milestone.
About Children Plan
LIC Children Plans (Jeevan Tarun, Jeevan Ankur, New Children's Money Back Plan) are specifically designed to help parents systematically save for their child's future milestones — education, higher studies, career start, and marriage. These plans provide life cover to the parent (proposer), ensuring that even if something were to happen to the parent, the child's planned financial goals remain unaffected. The waiver of premium benefit ensures the policy continues without any further premium payment in case of the parent's death. The plan matures at specific ages of the child, providing funds exactly when needed.
Quick Benefits
- Education milestone payouts
- Waiver of premium on parent's death
- Policy continues even if parent dies
- Maturity at child's target age
- Life cover for proposer (parent)
- Guaranteed payouts at key milestones
Who Should Take This Plan?
New parents who want to start saving from day one for their child's future.
Parents with children aged 0-12 wanting to plan for higher education.
Families wanting to accumulate a marriage fund for their daughter or son.
Parents who want to ensure their child's future is secure even in their absence.
Those looking for disciplined, goal-based savings for a specific future date.
Parents who want tax benefits while planning for their children.
Key Features
Milestone-Based Payouts
Funds are released at specific ages of the child — for school, college entrance, and marriage planning.
Waiver of Premium
If the parent (proposer) dies during the policy term, all future premiums are waived and policy continues in full force.
Life Cover for Parent
The plan covers the parent's life, ensuring the child receives support even after the parent's untimely demise.
Early Start Advantage
Starting early maximises the corpus through the power of compounding and lower premium rates.
Flexible Payout Structure
Choose between money-back style partial payouts or a full lump sum at maturity based on your preference.
Nomination Facility
The child can be made a nominee, ensuring direct transfer of benefits without legal complexities.
Save Taxes While You Protect
Premiums paid for Children Plans are eligible for Section 80C deduction up to ₹1.5 lakh. The maturity and death benefits are exempt from tax under Section 10(10D). This makes children's plans a dual-benefit instrument — tax saving today and tax-free returns tomorrow.
Why This Plan Stands Out
Vs Sukanya Samriddhi
Children plans offer life cover and flexibility beyond Sukanya Samriddhi's scope.
Vs Education Loan
Avoid the burden of education loans by planning ahead with a dedicated children's plan.
Vs PPF/FD
Children plans offer insurance protection plus savings — FD and PPF offer only savings.
Goal-Specific Planning
Unlike generic savings, children plans are designed around specific educational milestones.
Premium Waiver Advantage
Unique waiver of premium feature ensures plan continues even without the parent.
Government-backed Security
LIC's sovereign backing means your child's fund is always safe and guaranteed.
Interested in Children Plan?
Let Atul Gitay guide you through the plan details and find the best option for your specific needs. Get a free, no-obligation consultation today.
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- Free consultation
- No sales pressure
- Personalised advice
- Quick response
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Ready to Secure Your Future?
Get a free, no-obligation consultation with Atul Gitay today. He will help you find the right insurance plan.