In this article I will be writing about the one of the popular child insurance policy from the LIC. It is Komal Jeevan. It has many advantages compare to other insurance policies, this article presents the few facts related to the polciy. If you have any doubts please post it in the comments section. Please subscribe to our future articles here.
Komal Jeevan
LIC’s Komal Jeevan is the best suited policy for your children. It is money back policy and provides good support for your child in the future when he/she wants to go for higher studies or doing any business. If you are taking the policy of Rs.100000 as the sum assured, yearly premium will be Rs.7281. It is the minimum amount. Depends on your capacity you can increase the sum assured value. The following are the key facts about the Komal Jeevan child policy:
- This policy can be taken for the child with 0-10 years.
- You have to pay the premium untill he/she attains the 18th age.
- Policy will be matured at the age of 26.
- Sum assured will be paid in the installments as follows:
- 20% on 18th age
- 20% on 20th age
- 30% on 22nd age
- 30% on 24th age
- At the age of 26, he/she will get the lump sum amount on maturity of the polciy. It may vary based on the many parameters.
- Minimum premium is Rs.7,281 per year.
Summary
I would recommend this policy for your child’s future. It is preferred by the most of the parents because it gives the money support while they are studying and lump sum at the age of 26. Hope this article is useful. If you have any doubts please post it in the comments section.
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November 20, 2009 at 9:00 am
Hi,
What is the expected annual rate of return in this policy? And what are the amounts that the insured person gets at regular intervals? Currently it lists 0% on 18th/20th/22nd/24th age.
January 22, 2010 at 4:44 am
hi,
I need term insurance policy. which policy should i take, my age is 43 could you pls suggest me low premium policy.
regards.
harijayaram
January 22, 2010 at 9:00 am
Hello Hari,
What is the sum assured you are looking for?
Thanks,
Krishna
February 21, 2010 at 7:24 pm
I read that the premium amounts (paid annually/half-yearly/…) are tax deductible. But, what about the returns? Are they taxable?
June 30, 2010 at 10:15 pm
hi,I want the complete detail of this policy.whether it is exempted under I.T.only it is a money pay back at the time of maturity.
October 3, 2011 at 6:45 am
If I take a single premium option of Rs 30000 in the Komal Jeevan child insurance policy, how much return will I get?
December 21, 2011 at 5:48 am
is it cover 80 C tax benifit?
November 26, 2012 at 2:55 pm
Is the yearly premium of Rs. 7281.00 is correct amount for policy of Rs. 100000.00