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Plan No. 874Child Insurance
LIC's Amritbaal
"Secure your child's higher education."
A non-linked, non-participating, individual, savings, life insurance plan specifically designed to meet the higher education and other needs of children.
Key Features
- ✓Guaranteed Additions of ₹80 per ₹1000 Sum Assured per year.
- ✓Premium Waiver Benefit Rider available.
Eligibility Criteria
Minimum Age30 Days
Maximum Age13 Years
Minimum Term10 Years
Maximum Term25 Years
Min Sum Assured₹ 2,00,000
Max Sum AssuredNo Limit
Plan Benefits
Death Benefit
Sum Assured on Death + Guaranteed Additions.
Survival Benefit
N/A
Maturity Benefit
Basic Sum Assured + Guaranteed Additions.
Real-World Example
ProfileParent buying for a 2-Year-Old Child
Sum Assured₹ 10,00,000
Term Details16 Years (Matures at age 18)
Annual Premium₹ 75,000 / Year
Expected ReturnsGuaranteed ₹ 22,80,000
How it Works
A fantastic guaranteed plan for education. Additions are fixed at ₹80 per 1000 (i.e. ₹80,000 a year for a 10L policy). Over 16 years, it generates ₹ 12,80,000 in additions. At age 18, the child gets exactly ₹ 22.8 Lakhs for college.