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LIC Child Plan
LIC or Life Insurance Corporation of India is one of the oldest life insurance companies in India. Despite 23 competitors in the life insurance industry, LIC holds the largest market share with its strong market presence and a wide product range.
The company specializes in serving diverse customer needs with effective life insurance plans such as child plans, investment plans, savings, health plans, withdrawn plans, micro insurance, etc. LIC Child Plans provide parents with a gateway to build a financially secure future for their children.
Top LIC Child Plans in 2026
Here are the LIC policies for a child in 2026:
LIC New Children’s Money Back Plan
LIC New Children’s Money Back Plan is a participating, non-linked, traditional, and money-back plan. It is a tailor-made policy that caters to different stages of your child’s life, such as education and marriage, through survival benefits. It also provides risk cover for the child during the policy tenure.
Key features
- The maturity benefit is equal to the base sum assured at the time of purchase.
- Loans can be availed under this child plan.
- Premiums can be paid monthly, quarterly, half-yearly, or yearly.
Eligibility
| Entry age | 0 to 12 years |
| Maturity age | 25 years |
| Policy tenure | 25 years - Entry age of the child |
| Sum assured | ₹1 lakh to no limit |
| Premium payment term | [25 - Age at entry] years |
LIC Jeevan Tarun Plan
The Jeevan Tarun Plan is a participating, non-linked, limited premium payment plan, which is a mix of insurance and savings for a child’s secure future. This insurance plan helps you fulfill your child’s dreams, covering expenses like higher education and hostel charges.
Key features
- It is a traditional child plan that combines benefits of Endowment and Money Back Plans.
- It offers flexible premium payment options.
- A free-look period (up to 15 days) is available, allowing policyholders to return the policy if they are not satisfied.
- Offers LIC Premium Waiver Benefit Rider.
- Loans can be availed against the plan once it acquires a surrender value.
Eligibility
| Entry age | 90 days to 12 years |
| Maturity age | 25 years |
| Policy tenure | 25 years - Entry age |
| Sum assured | ₹75,000 to no limit |
| Premium payment term | [20 - Age at entry] years |
Why LIC Child Plans?
LIC is one of the most trustworthy insurance companies in India, providing a wide range of insurance plans to its customers. It offers child plans that focus on offering essential financial support and stability for your child. Both LIC child plans are designed with excellent features to safeguard your child’s future.
How Does an LIC Child Plan Work?
Let’s understand with an example.
Mr. Kumar buys an LIC child plan (20-year tenure) for his 6-year-old child. The plan promises to pay benefits at the 15th, 17th, and 20th policy years. Mr. Kumar sets the benefit timings to align with his child’s educational milestones. He receives funds when the child reaches ages 20, 22, and 25. These funds can be used for the child’s higher education. If Mr. Kumar passes away during the policy tenure, the plan continues, and the company waives all future premiums.
Benefits of LIC Child Plans
Here are the major benefits of LIC child plans:
- Regular premiums may qualify for tax deduction under Section 80C, while maturity and death payouts are typically tax-free under Section 10(10D).
- If the policyholder passes away during the premium payment period, many child plans waive future premiums, ensuring the plan continues and the child still receives benefits.
- Some plans allow loans against the policy if urgent funds are needed before maturity.
- In the unfortunate event of the child’s death, the nominee receives a death benefit (Sum Assured plus accrued bonuses).
- Plans like money-back or savings-cum-protection pay survival or maturity benefits at key stages, such as for education, higher studies, or marriage.
How to Purchase an LIC Child Plan?
You can buy LIC Child Plans through the company’s official website. Follow these steps:
- Visit the LIC website.
- Navigate to the ’Products’ tab.
- Click on ’Insurance Plan’.
- Select the LIC’s New Children’s Money Back Plan.
- Click on the ’Buy Now’ tab on the right side of the page.
- Review the premium and make the payment using a debit/credit card or net banking.
- The company will send your policy documents to your email.
Note: The LIC Jeevan Tarun Plan is not available online. If you wish to invest in this plan, reach out to the customer care team of LIC or visit the company’s nearest branch.
How to Renew LIC Child Plans?
To renew your LIC Child Plan, follow these steps:
- Visit the official LIC website and click on ’Registered User’. If you are a new user, click on ’New User’ to complete the registration process and log in.
- Submit your date of birth, Customer ID, User ID/mobile/email, and password to log in.
- Select the LIC Child Plan you wish to renew.
- Make the payment using available options such as debit/credit card or net banking.
- Save or print the premium payment receipt for future reference.
- The company will send the policy documents to your registered email ID.
LIC Child Plans, such as the LIC Child Education Plans, are great options to save for your child’s financial security and future. The New Children’s Money Back Plan (more commonly known as the New Children’s Plan) and Jeevan Tarun policies include a life cover, savings, free-look period, affordable premiums, and several auxiliary benefits, including loan facilities and waiver of premiums. LIC maintains a strong reputation and trust among its loyal customers. Parents can be assured that their children will receive education support and other long-term benefits.
For adequate information about these plans, visit PolicyX.com, where we offer expert insurance advice without spam or gimmicks.
