Skip to main content

Best LIC Policy for a New Born Baby, LIC Children Plan


Today, the cost of education is increasing rapidly since childhood. An insurance policy can be a good way for parents to deal with this expense. For a newborn, LIC Children's Plan may prove to be the most appropriate.




1. New children's money-back scheme

This scheme helps you to cater to the different needs of children at different stages. The basic eligibility age for this scheme is a minimum 0 years (time of birth) and a maximum of 12 years. The total age at maturity is 25 years.


  • This scheme is an individual policy plan.
  • Maturity benefits will be provided which will be equal to the assured amount and other applicable bonuses.
  • Premium will be paid quarterly, monthly, annually or half-yearly
  • Minimum Sum Assured Rs. 1, 00,000
  • This policy includes maturity benefit, death benefit, and survival benefit.
  • In this plan, the premium amount is paid at regular intervals. The child receives 20% of the total amount at the age of 18, 20% each year again at the age of 20 and 22 and the remaining 40% is provided at the age of 25.


2. Jeevan Tarun Yojana

This plan can be a good option for children 2 years or younger. The scheme has a limited salary option. There is a need to continue the policy until the child attains the age of 20 years and till the child attains the age of 25 years. This is the best licensing policy for a newborn.


  • Covering the risk budget can be initiated when the child attains 8 years or 2 years from the initial date of the plan or policy, whichever comes first.
  • The premium is paid until your child reaches 20 years of age and you can receive payment until the age of 25 after the age of 20.
  • The remaining amount is given as maturity benefit at the end of the policy. There is also a death benefit of this amount which is 10 times the annual premium or 125% of the sum assured. You get what is 105% of the total amount of premium and the minimum amount is paid till the date.
  • Minimum Sum Assured Rs. 75,000.


3. Life Exaltation Plan

This plan provides lifetime insurance coverage. The scheme facilitates regular payment from the last payment of premium till survival. If the customer dies within the policy term, a certain amount is to be paid.


  • The survival benefit is paid every year, which is 8% of the guaranteed amount.
  • Other benefits such as rider benefit, death benefit, maturity benefit and tax benefit are available.
  • The minimum age for admission is 90 days.
  • The conditions for paying the premium are 30, 25, 20 and 15 years. The birthday is 100 years old with the closest being.
  • The minimum fixed amount is Rs 2,00,000.
  • Premium is paid only through NACH or SSS, which is paid yearly, quarterly, half-yearly and monthly.



Comments