LIC Policy for Girl Child in India

What is the LIC Policy for Girl Child?

LIC Policy for Girl Child in India is a specially designed plan to benefit the girl child. These plans offered by the LIC of India provide financial protection and assistance for important milestones in a girl's life, such as education, marriage, or starting a business. These plans offered by LIC will ensure and safeguard your daughter’s financial independence, even in your absence.

Best LIC Plans for Girl Child 2024

A few LIC policies suitable for the girl child in India are as follows:

LIC Jeevan Tarun

Take care of your daughter’s higher education with LIC Jeevan Tarun

• LIC Jeevan Tarun is a participating plan, which means your daughter will be entitled to receive the profits the company declares as additional bonuses.

• Upon completing the policy, your girl will receive a fixed percentage of the Sum Assured as the maturity benefit.

• The policy also offers a survival benefit, under which she would receive a predetermined percentage of the Sum Assured after the end of the 20th policy year.

• The policy provides the option of including LIC’s Premium Waiver Benefit Rider for comprehensive coverage.

• You can also select for the maturity to be paid in installments. This would act as a regular income for your daughter to fund her college or other important expenses.

Eligibility Criteia of LIC Jeevan Tarun

LIC Jeevan Labh

Ensure your girl child’s future financial independence with LIC Jeevan Labh

• The policy offers a maturity benefit at the end of the policy term, which can be used by your daughter to fund her lifelong dreams and aspirations.

• Your daughter will also receive a portion of the profits the company declares as an additional bonus.

• The policy also offers the option of including any of the following riders for enhanced coverage. The riders are LIC’s Accidental Death and Disability Benefit Rider, LIC’s Accident Benefit Rider, LIC’s New Term Assurance Rider, LIC’s New Critical Illness Benefit Rider, and LIC’s Premium Waiver Benefit Rider.

• The policy provides liquidity through loans after the end of 2nd policy year. Your daughter can avail of this feature in case of any medical emergency or crisis.

• The policy also offers the option of maturity payout in installments. Your daughter will receive regular income to pay for her school or college fees through this.

Eligibility Criteria of LIC Jeevan Labh

LIC New Children’s Money Back Plan

Fulfill your daughter’s life goals with LIC New Children’s Money Back Plan

• With LIC New Children’s Money Back Plan, your daughter will receive a maturity benefit at the end of the policy term, which can be used to pay for her wedding or other important expenses.

• The plan offers a portion of the profits declared by the company as additional bonuses.

• Your girl will also receive a 20% survival benefit at the end of the 18th, 20th, and 22nd policy years.

• The policy also offers the option of deferring the survival benefits and will pay an increased survival benefit in return.

• There is also the option of including LIC’s Premium Waiver Benefit Rider for enhanced coverage.

• You can also opt for the settlement of the maturity option, through which your daughter will receive the maturity in installments which can help pay her school or college fees.

• The policy also offers a loan facility that can be availed after the end of 2 policy years.

Eligibility Criteria of LIC New Children’s Money Back Plan

LIC SIIP

Invest in LIC SIIP to grow a corpus for your daughter’s lifelong goals

• This is a unit-linked plan, therefore a portion of the premium is invested in funds of varying risks and the remaining portion is used to provide insurance.

• Your daughter will receive the maturity benefit at the policy's maturity, which can be utilized to fund either her higher education or her lifelong dreams.

• The policy offers guaranteed additions at the end of specific years which can help her maintain her lifestyle.

• The plan also provides the option of including LIC’s Linked Accidental Death Benefit Rider for enhanced coverage.

• The partial withdrawal feature can provide liquidity after the fifth policy year to take care of any financial emergencies.

• The plan offers four types of funds, of which you can choose or switch between the ones with appropriate market risk.

Eligibility Criteria of LIC SIIP

LIC Jeevan Umang

Give wings to your girl’s dreams with LIC Jeevan Umang

• LIC Umang is a participating plan, which means your girl will receive the profits declared by the company during the policy term.

• Your daughter will also receive the Sum Assured on Maturity as a maturity benefit at the end of the policy term.

• A survival benefit of 8% will also be paid at the end of each year after the end of the premium-paying term for the policy tenure.

• You can also include the following riders to increase the policy coverage. They are LIC’s Accidental Death and Disability Rider, LIC’s Accident Benefit Rider, LIC’s New Term Assurance Rider, LIC’s New Critical Illness Benefit Rider, and LIC’s Premium Waiver Benefit Rider.

• The policy offers liquidity through its loan facility which your daughter can avail of in case of an emergency.

• The policy offers a whole life cover up to the age of 100 years.

Eligibility Criteria of LIC Jeevan Umang

Benefits of LIC Plans for Girl Child

• School Fees: The LIC plans for a girl child can help pay the school fees and continue her education in the event of the parent’s demise. This gives the girl child better educational opportunities even without the main income earner.

• Funding higher education: College and university fees are increasing rapidly, and parents might become concerned about providing their children with the best education. However, an LIC policy might assist the girl child in fulfilling her dreams and pursuing the course of her choice. The return from these plans can also be used abroad for better education and exposure.

• Other future expenses: Not just education, a plan from LIC India might also help in taking care of other expenses such as a wedding or any medical emergency. The lump sum provided upon maturity of the plan can be utilized to fulfill various other lifelong dreams.

• Beat Inflation: Consistent market volatility might lead to capital erosion. One can grow a corpus over time to ensure their girl child stays financially stable and independent.

How Can LIC Policy Benefit Your Daughter?

So suppose you have purchased the LIC’s New Children Moneyback Plan for your daughter who is currently 12 years of age. If the policy and premium paying term is of 13 years, then at the monthly premium of just Rs. 7,916, your daughter will be covered under the policy for the next 13 years. She will also receive Rs. 2 Lacs at the age of 18th, 20th, and 22nd which she can utilize to pay for her college or university fees. She would also receive a maturity amount of Rs. 4 Lacs, which she can use to pay for her higher education or any other unexpected expenses.

How to Purchase the Plans?

Online: Any of the above child plans provided by LIC life insurance can be purchased online by visiting the LIC’s official website. You can select the policy of your choice and then fill in the necessary details such as name, age, date of birth, mobile number, and so on. Moreover, the premiums can also be paid online through LIC’s Online Premium Payment Portal.

Offline: Policies can also be purchased by visiting the nearest LIC branch office or through other official agents or brokers.

The Bottom Line

A LIC Policy for girl children has become a necessity to ensure a safe and secure future for children, specifically girls. It is important that our daughters, who are the future of tomorrow, can lead a financially stable life. The LIC Policy for Girl Child's Marriage Plan will help fulfil her educational and other financial needs, even in the absence of the parents.

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