| Professional Education Plan |
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LIC
(International) has the pleasure to offer to the caring and
concerned parents like you -Professional Education Plan - to
ensure the fulfillment of your dream of making your child a
top professional.
Benefits
For a policy of $100,000, the plan provides the following guaranteed payments on the policy anniversary falling due after the life assured's attaining the age mentioned below:
1) $20,000 on surviving the age of 18 years
2) $20,000 on surviving the age of 19 years
3) $20,000 on surviving the age of 20 years
4) $20,000 on surviving the age of 21 years
5) $20,000 on surviving the age of 22 years
6) Guaranteed Addition on surviving the age of 23 years
Guaranteed Addition
A policy of $100,000 would provide for payment of yearly guaranteed addition of $2500 (at the rate of 25 per thousand) for each policy year payable to the life assured on surviving the age of 23 years - or earlier in the event of death.
Who can propose and what if the proposer is no more?
Father, Mother (having income of her own) and Legal Guardian (if both parents are not alive) can propose under the Plan. If the proposer is no more, he/she can still fulfill the dream by opting for the special rider Premium Waiver Benefit. By paying a little extra premium the policy can be kept in force for the full policy period without paying any future premium in the unfortunate event of the parent not being alive (conditions apply)
Family Benefits
Family can additionally be benefited by insuring a parent for 20% of the sum assured by paying an additional premium (Conditions apply)
A Unique Plan
It is a unique plan which operates as a life insurance policy on the life of the child from the policy anniversary after the child attains the age of 7 or 2 years from the date of commencement of the policy, whichever is later.
Other features of this plan:
 Portability
Flexible options in Premium
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Child Education
/ Marriage Plans