LIC Komal Jeevan Policy
LIC’s Komal Jeevan Plan is a children’s moneyback policy in which the premium is returned on the policy anniversary after the child attains 18 years, 20 years, 22 years and 24 years. If the child dies within the policy tenure after risk commencement, then the Sum Assured along with Guaranteed Additions are paid and the policy is terminated.
Key Features
This plan can be taken by the child’s parents or grandparents for a child between 0 to 10 years
Benefits
Sum Assured + Bonuses after commencement of risk. Otherwise, the sum of basic premiums are paid back
Guaranteed Additions along with Loyalty additions is payable in a lumpsum.
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When child is 18 years of age - 20% of the Sum Assured
- When child is 20 years of age - 20% of the Sum Assured
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When child is 22 years of age - 30% of the Sum Assured
When child is 24 years of age - 30% of the Sum Assured
Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D).
