Say goodbye to worries about your children's education and weddings; these 3 LIC policies are the best for the middle class..
LIC Child Plans 2026: Every parent wants their child to receive a good education and for their wedding to be celebrated without compromise. However, given the rapid rise in the cost of education and other expenses these days, investing in the right place well in advance has become crucial. In India, whenever safe investment options are discussed, LIC is the first name that comes to mind. LIC offers plans designed to secure a child's future; these not only provide good returns but also ensure that the child's education continues uninterrupted even in the event of an unforeseen tragedy. Let us look at three of LIC's best child plans.
1- LIC Amritbaal (Plan 874)
This is one of LIC's newest and most popular schemes. It has been specifically designed to build a substantial fund for a child's higher education. You can purchase this policy for a child aged between one month (30 days) and 13 years. The best feature of this plan is the guaranteed return; a guaranteed bonus of ₹80 per ₹1,000 of the Sum Assured is added to the policy annually. You can choose a premium payment term ranging from 10 to 25 years. When your child is between 18 and 25 years of age, they will receive a large lump-sum amount, making their educational journey smoother.
2- LIC Children's Money Back (Plan 832)
During a child's education, there are often when a large sum of money is suddenly required. This is where the 'Money Back' plan proves very useful. It can be purchased for children ranging from newborns up to 12 years of age. The major advantage of this plan is that you receive a payout of 20% of the total Sum Assured each time the child reaches the ages of 18, 20, and 22. Subsequently, when the child turns 25, the policy matures. At that time, the remaining 40% of the corpus and the entire accumulated bonus are paid out in a lump sum.
3- LIC Jeevan Tarun (Plan 834)
This plan is designed for children aged between 90 days and 12 years. Its key feature is its flexibility. Parents can decide—based on their requirements—how much money they wish to receive as an annual 'money-back' payout when the child is between 20 and 24 years old. Options of 0%, 5%, 10%, or 15% are available. Finally, upon the policy's maturity in the 25th year, the remaining balance is paid to the child.
Opt for the Premium Waiver Rider
When purchasing any LIC plan for children, it is highly advisable to include the ‘Premium Waiver Benefit’ (PWB) rider. If an unfortunate event befalls the parent during the policy term, this rider ensures the policy does not lapse. LIC itself pays the subsequent premiums, ensuring the child receives the full maturity amount on schedule.
Additionally, all these plans offer an annual tax exemption of up to ₹1.5 lakh under Section 80C of the Income Tax Act. Furthermore, the amounts received upon maturity and as money-back payouts are tax-free.
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