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Seeing the speed at which inflation is increasing in today’s times, every parent starts worrying about the huge expenses of their children’s higher education and their marriage. Handling these big expenses is no less than a big challenge for the common man. In such a situation, if you are looking for a completely safe investment for your beloved or dear one by staying away from the ups and downs and risks of the stock market, then ‘Amritbal’ plan (Plan No. 774) of Life Insurance Corporation of India (LIC) can prove to be a life-changing option for you. The biggest and special thing about this scheme is its guaranteed returns, where you get a full guaranteed bonus of Rs 80 for every Rs 1000 sum assured.

Guaranteed and 100% guaranteed profit scheme

Generally, the returns of traditional insurance policies available in the market directly depend on the company’s profits and market performance. Because of this, the amount received at the time of maturity sometimes becomes more or less than expected. But this is not at all the case with LIC Amritbal. This amazing plan completely works on the rule of ‘Guaranteed Addition’. What this means is that as long as your policy is in force, a fixed bonus of Rs 80 per Rs 1000 of sum assured will be silently added to your child’s account every year. Amidst the uncertainties of the financial market, this is a very safe bet, which helps you in building a big corpus in due time.

Golden opportunity to invest even for a 30 day old newborn baby

LIC has specially designed this policy keeping in mind the needs of children for their bright future. The age conditions for starting investment in this scheme have been kept so simple that you can easily open this wonderful account in the name of a child ranging from just 30 days old to 13 years old. Not only this, you also get complete freedom to choose the time of maturity. You can decide the maturity of the child anytime between 18 years to 25 years of age. That means, if you need money for your child’s big college fees in his 18th year, or for his new business startup in his 25th year, then you can choose the age as per your convenience. To pay the premium, you have the best option of single payment or short tenure of 5, 6 and 7 years.

Child’s education will not stop even if something unexpected happens

There is always a deep fear hidden in the mind of every parent that if something untoward happens to them, what will happen to their children’s education and future? To eliminate this fear of parents forever, LIC has added a wonderful and very important facility of ‘Premium Waiver Rider’ in Amritbal Plan. The advantage is that if any unfortunate event happens to the proposer (i.e. parent) during the policy term, the child’s policy will never lapse. All future premiums will be automatically waived off completely and the scheme will continue without any interruption. On completion of the time, a huge maturity amount will be handed over to the child with full honours.

A huge lump sum fund will come into the hands of the child at the right age

When your child reaches the most important and critical juncture of his life, he will get a huge lump sum amount from LIC which can change his fate. This big fund will not only include your basic sum assured, but will also add a guaranteed bonus of Rs 80 per thousand deposited every year. This huge amount can easily cover big expenses like studying in a foreign university or having a grand wedding. This plan is indeed a smart and sensible financial move to lay the foundation of a secure and strong future in the name of your children.