LIC Amritbaal Policy: Secure Your Child’s Future with This Comprehensive Plan

G GOWTHAM
Every parent wants to ensure a stable and secure financial future for their children. While traditional options like bank Fixed Deposits (FDs) or Recurring Deposits (RDs) are common, they often fall short when it comes to beating inflation or meeting long-term financial goals. This is where the LIC Amritbaal Policy comes in as a reliable and well-structured solution.

What is the lic Amritbaal Policy?

The Amritbaal Policy is a child-focused insurance plan offered by the life insurance corporation of india (LIC). It is designed to provide:

· Financial security for your child’s future

· Regular income at key stages of the child’s life

· Life cover for the parent or guardian

This policy combines the benefits of insurance and investment, ensuring that your child’s future expenses—like education, marriage, or starting a business—are well-covered.

Key Features of lic Amritbaal Policy

1. Flexible Payment Terms
Parents can choose premium payment terms according to their financial capacity, making it easier to plan without strain.

2. Maturity Benefits
The policy pays out a lump sum on maturity along with regular survival benefits during the child’s growing years, which can help meet education or other significant expenses.

3. Life Cover
In the unfortunate event of the parent’s demise during the policy term, lic ensures the continuation of premiums and benefits, protecting the child’s future without financial disruption.

4. Tax Benefits
Premiums paid under the policy are eligible for tax deductions under Section 80C, and maturity proceeds may be tax-free under Section 10(10D), depending on prevailing tax laws.

5. Option for Top-Up
The plan may also offer options for enhanced benefits or top-ups, helping parents increase the corpus as their income grows.

Why Choose lic Amritbaal Over Traditional FDs or RDs?

· Better long-term growth: Returns from the policy are typically higher than standard bank deposits.

· Insurance coverage: Unlike FDs or RDs, it also provides life cover.

· Structured payouts: Ensures the child gets funds at important stages of life.

How to Get Started

1. Visit your nearest LIC branch or their official website.

2. Discuss your financial goals and policy term with an lic advisor.

3. Choose the premium and payment term that suits your budget.

4. Complete the application and start securing your child’s future.

Final Thought

The lic Amritbaal Policy is more than just an investment—it is a comprehensive plan that combines security, growth, and financial discipline. By starting early, parents can ensure their children have a stable financial foundation, giving them the freedom to pursue their dreams confidently.

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.

For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

Fds

Related Articles: