Life Insurance Corporation of India Child Fortune Plus
LIC’s Child Fortune Plus is a unit linked plan which offers you a solution to meet your child’s educational and other needs. You can insure yourself under this plan if you are the parent of a child upto the age of 17 years last birthday in case of single premium policies and age of 10 years last birthday in case of regular premium policies.
The child named under the policy shall be the nominee. There will not be any insurance coverage on the life of the child, but the policy will be allowed based on the age of the child. The policy will continue till the child attains the age of 25 years last birthday or till you (life assured) attain the age of 75 years nearest birthday, whichever is earlier.
You may pay premiums regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over the term of the policy. Alternatively, a Single premium can be paid. You can pay the premiums either in lump sum (single premium) or regularly throughout policy term.
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