LIC Jeevan Ankur is a child plan. Its conventional with profits plan, designed to meet the educational and other financial needs of your child. Jeevan Ankur is most suitable child plan for the parents of upto 17 years child. “LIC Jeevan Ankur” ensures that your responsibilities are met whether you survive or not and without depending on anyone else for financial assistance.
The policy will be on parents name however the child will be the nominee. The policy term will depend on the age of the child.
Death during policy term: The nominee (your child) will get a basic sum assured and income benefit 10% of basic sum assured will be paid on every policy anniversary till the end of the policy term.
On death of child, Life Assured is alive: In this case, you will have the option to nominate another child and the policy will continue with the same benefit.
You will get the basic sum assured along with the loyalty additions if any.
You have two riders to customize your Jeevan Ankur plan
- Accident Benefit Rider
- Critical Illness Rider
Eligibility conditions for Jeevan Ankur (Plan no.807)
Minimum Entry Age (Parents age): 18 years
Maximum Entry Age (Parents age): 50 years
Minimum Entry Age (Child age): 0 years
Maximum Entry Age (child age): 17 years
Minimum Term: 18 – Age of child or 8 years whichever is higher
Maximum Term: 25 – age of child
Minimum Sum Assured: 1 lakh
Max sum assured: No Limit
Premiums can be paid regularly at yearly, half yearly, quarterly or monthly (through ECS only). Alternatively, a single premium can also be paid.
Though LIC Jeevan Ankur is the child plan but policy holder will be the parents and not the child. This is the best plan for those who want to invest a lum sum in just one single premium instead of regular yearly premium. So why wait? Gift your child the special child insurance plan.