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Child Fortune Plus
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Jeevan Tarang
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Latest Introduction >> Child Fortune Plus
Table No. 194
Features :
Introduction : All of us wish to ensure the best possible future for our children. With the cost of education sky rocketing, it is all the more important that an early provision is made to ensure that your loved ones get a good head start in life. LIC’s Child Fortune Plus is a total solution to their education and other needs. The plan is a unit linked one offering the prospects of long term capital appreciation.
Benefits :

On Maturity:
The maturity benefit will be payable on the earlier of; either the child attaining 25 years of age or the life assured attaining 75 years. On the date of maturity, an amount equal to the policy holder`s fund value is payable.

On Death:
In the unfortunate event of death of the policy holder, the nominee child will be paid the Sum Assured under the policy. Further all future premiums will be waived and units equivalent thereof shall be credited to the policy fund account at the applicable unit price.

Am I eligible?

A parent, with a child aged 17 years or less can go in for Child Fortune Plus. The policy will cover the life of the parent.
Choice of Investment Options
Fund, and Growth Fund; each tailored to different levels of risk and return.

Partial Withdrawal/Surrender : A Policyholder can partially withdraw the units at any time after the third policy anniversary subject to certain conditions. There will be no bid offer spread i.e. the sale and purchase price of units will be the same. The NAV shall be declared on day to day basis.

Premium Payment options
The policy can be taken under the lumpsum option or the regular premium option. ECS payment is also available.
Revival
From the date of First Unpaid Premium. If the premiums have been paid for a minimum period of three years, the Life cover will continue during the Revival Period. A unique feature of the plan is that a policyholder can opt for continuation of cover even beyond the Revival Period, without reviving the policy or paying any further premiums by exercising the option at least one month prior to the completion of the Revival Period. The policy cover continues by deduction of relevant charges from the policy fund till the fund value reaches one annualized premium.
Other Features

The plan has other highlights like payment of additional amounts(top ups), attractive Fund Management/other charges and liberalized conditions for continuance of the policy in event of lapsation.

The minimum Sum Assured is five times the annualized premium and the maximum Sum Assured can go upto 25 times the annualized premium, depending on age at entry. Premium can be paid in yearly, half yearly, quarterly or monthly( ECS ) modes and the minimum annualized premium is Rs.10,000/-. The plan offers upto four switches free of charge every year, between the different types of funds.

With many attractive features, Child Fortune Plus is an ideal solution to meet the financial requirements arising at various stages like higher education and start up in life,etc.

For further details on risk factors, terms and condition, please read the sales brochure carefully before concluding a sale. Past performance may not be an indicator of future performance.
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