Jeevan Kishore:

LIC’s Jeevan Kishore is one of a kind endowment plan which is specially designed for children below the age of twelve years.  This plan can be bought by the parent or the grandparent of the child.

It is an insurance which participates in the insurance business and takes part in the profits that are got from it.  These profits are available to you in the form of bonuses.

You can choose to pay your premiums either monthly, quarterly, half yearly or annually.

You will receive the following benefits if you buy LIC’s Jeevan Kishore:
After two years of the commencement of the policy, or after the policy anniversary, the risk commences at once.  By that time the child should have completed at least seven years of age.

This plan offers the death benefit which says that on death of the person who is insured, if the death takes place after the commencement of risk then the nominee will get the sum assured along with the bonuses as a big lump sum amount.

The maturity benefit is given at the time of maturity of the policy and then the person insured gets the sum assured as well as the bonuses which is applicable to him.

This plan offers the Premium Waiver Benefit which is not a compulsory benefit.  You can opt for it if you like.  You will have to pay an additional premium if you want this benefit.  By having this benefit, on your death all payments of premiums will be stopped and the sum assured will be given to your nominee.

This plan offers the benefit of surrender value by which at any time during the policy term you want to discontinue this policy, you can do so by paying the surrender value.

LIC’s Jeevan Kishore is the best way to secure your child’s educational and careers aspirations and also provide financial security in future.  So if you wish to provide your child with a comfortable life and a well established future, this is the best plan for you.