LIC’s Amrit Baal is a life insurance plan designed specifically for children. It offers a combination of savings and protection benefits, helping secure your child’s future financial needs.

Key features:

• Eligibility:

  • Child’s age: 30 days to 13 years

  • Maturity age: 18 to 25 years

  • Policy term:

    • Minimum: 5 years for Single Premium, 10 years for Limited Premium

    • Maximum: 25 years

  • Premium Payment Term:

    • Single Premium: One-time payment

    • Limited Premium: 5, 6, or 7 years

  • Basic Sum Assured:

    • Minimum: ₹2 lakhs

    • Maximum: No limit (subject to underwriting)

• Benefits:

  • Death Benefit: Payable if the child dies during the policy term. The amount depends on the Sum Assured on Death and accrued Guaranteed Additions.

  • Maturity Benefit: Payable if the child survives the policy term. It includes the Basic Sum Assured and accrued Guaranteed Additions.

  • Guaranteed Additions: Accrue at ₹80 per ₹1,000 of Basic Sum Assured each year.

• Options:

  • Premium Waiver Benefit Rider: Waives future premiums if the proposer dies.

  • Settlement Option: Allows receiving the Maturity Benefit in installments.

  • Option to take Death Benefit in installments.

• Additional features:

  • High Sum Assured rebates

  • Loan facility

  • Revival option for lapsed policies

  • Paid-up policy option with reduced benefits

  • Surrender option