By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NFC LICNFC LICNFC LIC
  • Home
  • Services
    • Govt of India NRI Pension
    • ITR File
    • Retirement Planning
    • SIP Calculator
  • About Us
  • Blog
    • Life Insurance
    • Health Insurance
    • Travel Insurance
    • Auto Loan
    • Car Insurance
    • Credit Card
    • Finance
    • Home Loan
    • Personal Loan
    • Gold Investment
Search
LIC New Endowment Plan 714 | Reintroduced in October 2024 | Detailed Review with Example in Hindi
1 अक्टूबर 2024 से LIC के 5 बड़े बदलाव से एजेंटों पर क्या होगा असर?
Post Office RD Scheme: ₹66,000 जमा करने पर मिलेंगे 5 साल बाद ₹3,92,513 रूपए
LIC की ये मालामाल करने वाली स्‍कीम! हर दिन लगाएं सिर्फ इतने पैसे, मिलेंगे 39 लाख
LIC Kanyadan Policy: रोज ₹121 में बेटी के लिए 73 लाख का फंड | शिक्षा और शादी की पूरी तैयारी
© 2024 NFC LIC. Insurance Agency. All Rights Reserved.
Reading: LIC Amritbaal Plan 774: New Plan Introduced on 1 October 2024 | Detailed Analysis
Share
Sign In
Notification Show More
Font ResizerAa
NFC LICNFC LIC
Font ResizerAa
Search
Have an existing account? Sign In
Follow US
  • Return Policy
  • About Us
  • Privacy Policy
© 2024 NFC LIC. Insurance Agency. All Rights Reserved.
NFC LIC > Life Insurance > LIC Amritbaal Plan 774: New Plan Introduced on 1 October 2024 | Detailed Analysis
Life Insurance

LIC Amritbaal Plan 774: New Plan Introduced on 1 October 2024 | Detailed Analysis

Secure Your Child's Dreams with LIC Amritbaal Plan 774 – A Guaranteed Future for Higher Education and Financial Stability.

NAUSHAD AHMAD
Last updated: October 5, 2024 5:52 pm
NAUSHAD AHMAD
Share
7 Min Read
LIC Amritbaal Plan 774
LIC Amritbaal Plan 774
SHARE

LIC Amritbaal Plan 774: LIC (Life Insurance Corporation of India) has introduced a brand-new insurance plan called Amritbaal Plan 774, specially designed to meet the higher education and future financial needs of children. Re-launched on 1st October 2024, this revised plan reflects the latest changes mandated by IRDAI (Insurance Regulatory and Development Authority of India). In this blog, we’ll explore the key features and benefits of the Amritbaal Plan 774, and how it can be a solid choice for securing your child’s future.

Contents
What is the LIC Amritbaal Plan 774?Key Features:Eligibility Criteria for LIC Amritbaal Plan 774Premium Payment OptionsPolicy Terms:Sum Assured & Risk CoverageRisk Coverage Options:Risk Cover for ChildrenGuaranteed Returns & Loyalty AdditionsPremium Waiver RiderEligibility for Premium Waiver Rider:Loan FacilitySurrender ValueOther Important FeaturesMaturity and Death BenefitsConclusionAlso Read : LIC New Endowment Plan 714 | Reintroduced in October 2024 | Detailed Review with Example in Hindi10%off, especially for you

What is the LIC Amritbaal Plan 774?

The LIC Amritbaal Plan 774 is a guaranteed insurance plan designed for children, aimed at providing financial support for their education and long-term needs. With the tagline, “बड़े सपनों का रख के ख्याल,” LIC highlights that this plan is tailored to help parents fulfil their children’s dreams through guaranteed financial security.

Key Features:

  • Guaranteed Maturity Amount: The plan provides a fixed, guaranteed maturity amount when the policy matures.
  • Tagline: “बड़े सपनों का रख के ख्याल,” emphasizing the focus on fulfilling children’s dreams.
LIC Amritbaal Plan 774
LIC Amritbaal Plan 774

Eligibility Criteria for LIC Amritbaal Plan 774

One of the standout features of this plan is its flexibility in terms of entry age:

  • Entry Age: The minimum entry age is 30 days (the child must be at least 30 days old) and the maximum is 13 years.
  • Maturity Age: The plan matures when the child reaches 18 to 25 years of age, making it suitable for planning their higher education or early adulthood needs.

Premium Payment Options

You can choose between two premium payment modes:

  1. Regular Premium: For those who wish to pay in regular intervals over time.
  2. Single Premium: One-time premium payment for the entire policy.

Policy Terms:

  • Regular Premium Term (PPT): Minimum term of 10 years.
  • Single Premium Term: Minimum term of 5 years.

For instance, if the child is 13 years old, opting for the single premium would allow the policy to mature when the child turns 18, which can be useful for funding their education.


Sum Assured & Risk Coverage

  • Minimum Sum Assured: The policy offers a minimum sum assured of ₹2 lakh.
  • Maximum Sum Assured: No upper limit; however, amounts above ₹25 lakh are selected in multiples of ₹50,000.

The sum assured can be chosen based on your earnings and requirements for your child’s future.

Risk Coverage Options:

  • Regular premium policies offer either 7 times or 10 times of the annual premium as risk coverage.
  • For single premium policies, risk cover can range from 1.25 times to 10 times of the premium amount.

Risk Cover for Children

  • For children below 8 years, the risk cover starts after 2 years of the policy term.
  • For children aged 8 years and above, the risk cover starts immediately upon purchase.

Guaranteed Returns & Loyalty Additions

This plan offers guaranteed returns based on your investment. For every ₹1000 invested, you will receive a guaranteed return of ₹80. Additionally, loyalty additions will be provided at maturity, ensuring that your child receives a substantial sum for their future needs.


Premium Waiver Rider

An important feature is the Premium Waiver Rider, available for children aged 0 to 17 years. This rider allows the parent to opt for a waiver of premiums in case of unforeseen circumstances like the death of the policyholder. This ensures the policy continues without the burden of premium payments, securing the child’s future.

Eligibility for Premium Waiver Rider:

  • Parent’s age must be between 18 and 55 years.
  • The rider benefit continues until the parent turns 70 years.

Loan Facility

The plan also allows for a loan against the policy, up to 90% of the total premium paid after the policy is in force. This can be a lifesaver in emergencies or when additional funds are required.


Surrender Value

The Guaranteed Surrender Value (GSV) makes this plan more customer-friendly. If you need to surrender the policy after 1 year, you will receive the surrender value along with a guaranteed bonus. This feature is particularly helpful in cases of mis-selling or if you decide to close the policy early.


Other Important Features

  • Free-Look Period: The free-look period has been extended to 30 days from the previous 15 days.
  • Settlement Option: You can opt for the settlement option at maturity, allowing you to receive the maturity benefits in installments.
  • Rebate on High Sum Assured: Attractive rebates are available for high sum assured policies.

Maturity and Death Benefits

  • At maturity, the policyholder will receive the sum assured along with the guaranteed addition of 8%.
  • In case of the unfortunate death of the policyholder or child before maturity, the policy provides a death benefit to the nominee, ensuring financial security for the family.

Conclusion

The LIC Amritbaal Plan 774 is a powerful tool for parents looking to secure their child’s future. With guaranteed returns, risk cover, flexible payment options, and robust maturity benefits, this plan offers comprehensive financial protection for your child’s higher education and other future needs. If you’re looking for a plan that combines flexibility with security, the LIC Amritbaal Plan 774 could be the right choice.

For more detailed insights and updates, make sure to join our WhatsApp Channel.

Also Read : LIC New Endowment Plan 714 | Reintroduced in October 2024 | Detailed Review with Example in Hindi


10%

off, especially for you 🎁

Sign up to receive your exclusive discount, and keep up to date on our latest products & offers!

We don’t spam! Read our privacy policy for more info.

Check your inbox or spam folder to confirm your subscription.

TAGGED:child insurance planchild risk coverchildren’s education planguaranteed maturity planguaranteed returnshigher education insuranceinsurance for kidsLIC 774 premium waiverLIC Amritbaal 774 benefitsLIC Amritbaal Plan 774LIC children’s planLIC new plan 2024LIC policy detailsregular premium insurancesingle premium insuranceSurrender Value

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Pinterest Whatsapp Whatsapp LinkedIn Telegram
Share
Previous Article LIC New Endowment Plan 714 Featured LIC New Endowment Plan 714 | Reintroduced in October 2024 | Detailed Review with Example in Hindi
Next Article Jeevan Labh Plan 736 LIC New Jeevan Labh Plan 736: Complete Details, High Returns & Benefits in Hindi
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe
22.4kFollowersFollow
4.4kFollowersFollow
- Advertisement -
Ad imageAd image

Latest News

Best Zero Balance Bank Account in 2025
🏦 Best Zero Balance Bank Accounts in 2025 | Online Account Opening Comparison
Finance
3 days ago
LIC की 5 साल वाली पॉलिसी
सब Fail ❌ LIC की 5 साल वाली पॉलिसी दे रही है गारंटीड मुनाफा | जानिए पूरी डिटेल
Life Insurance
1 week ago
LIC Best SWP
LIC का Fixed Deposit जैसा Plan 2025: हर महीने कमाएं ₹30000 आजीवन | Best SWP & Monthly Income Plan by LIC
Finance
1 week ago
LIC Kanyadan Policy
LIC Kanyadan Policy: रोज ₹121 में बेटी के लिए 73 लाख का फंड | शिक्षा और शादी की पूरी तैयारी
Life Insurance
2 weeks ago

You Might also Like

Get LIC Policy Number using mobile
Life Insurance

Mobile Number Se LIC Policy Number Kaise Nikale | LIC Policy Number Kaise Pata Kare?

NAUSHAD AHMAD
By NAUSHAD AHMAD
6 months ago
LIC Relaunches 19 Plans with New Terms
Life Insurance

🚨 LIC Relaunches 19 Plans with New Terms | LIC’s Latest Updated Insurance Plans from 01 October 2024

NAUSHAD AHMAD
By NAUSHAD AHMAD
8 months ago
lic launched martech platform
Life Insurance

🚀 LIC ने लॉन्च किया MarTech प्लेटफॉर्म – जानें 10 जबरदस्त फायदे!

NAUSHAD AHMAD
By NAUSHAD AHMAD
3 months ago
Max Life में Insurance Agent कैसे बने - पाए सभी Details यहाँ
Life Insurance

Max Life में Insurance Agent कैसे बने – पाए सभी Details यहाँ

NAUSHAD AHMAD
By NAUSHAD AHMAD
9 months ago
Show More
NFC LICNFC LIC
Follow US
© 2024 NFC LIC. Insurance Agency. All Rights Reserved.
  • Return Policy
  • About Us
  • Privacy Policy
login
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

Not a member? Sign Up