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LIC Jeevan Kishore


LIC Jeevan Kishore (Table 102) is an endowment assurance plan that can be purchased by either the parent or grand parent for a child. Under this LIC policy, the risk cover starts either after 2 years of the beginning of the policy or after 7 years of age of the child assured whichever is later.

Sum assured with bonus will be paid on policy maturity. The proposer can further secure his child’s future by opting for Premium Waiver Benefit rider, such that if he dies before the policy matures, then the future premiums would be waived.

Features of LIC Jeevan Kishore :


• Risk on a child’s life commences after 2 policy years or the child attains 7 years of age, whichever is later
• On Maturity the Life Insured or his nominee would receive the Sum Assured + Bonus
• There are additional riders like Premium Waiver Benefit which can be availed by the proposer and Accidental Death Benefit rider that can be availed by the child after he is 18 years old


LIC Jeevan Kishore Eligibility Conditions :


Minimum

Maximum

Sum Assured (in Rs.) 50,000 40,00,000
Policy Term (in years) 15 35
Premium Payment Term(in years) Equal to Policy Term
Entry Age of Life Insured 0 12
Age at Maturity 20 45
Payment modes Yearly, Half-yearly and Quarterly

Benefits of LIC Jeevan Kishore :


Maturity Return – Sum assured with Bonus will be paid on policy maturity

Death Benefit – On the death of the child after the commencement of risk, the nominee would get the Sum assured with Bonus. If the child expires before the commencement of risk, the nominee will get only the premiums paid

Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns
Loan on Policy - Not Available
Housing Loan Surity - Not Available