Every parent dreams of giving their child the best possible future—whether it's a world-class education, a secure career path, or financial independence. The LIC Child Career Plan is designed to turn that dream into reality by offering a reliable financial foundation. In this blog, we’ll explore everything you need to know about the LIC Child Career Plan, its benefits, features, and how it compares to other child insurance plans.

What is LIC Child Career Plan?

The LIC Child Career Plan is a child insurance policy offered by the Life Insurance Corporation of India (LIC). This plan is specifically crafted to support your child’s education and career aspirations by providing financial assistance at key milestones.

Although LIC has merged some of its earlier plans and may not use this exact name currently, similar benefits are available under newer plans like LIC New Children's Money Back Plan and LIC Jeevan Tarun.

Key Features of LIC Child Career Plan

1. Money-Back Benefits

LIC pays survival benefits at regular intervals during your child’s teenage and early adult years—perfect for funding education or career courses.

2. Guaranteed Payouts

You receive guaranteed payouts on predetermined ages of the child, which helps in planning for specific educational or career goals.

3. Life Coverage for Parent

Most child career plans from LIC insure the life of the parent (proposer), ensuring the child’s future remains protected even in the parent's absence.

4. Tax Benefits

Premiums paid under this plan are eligible for tax deductions under Section 80C, and the maturity benefits are usually tax-free under Section 10(10D).

Benefits of LIC Child Career Plan

• 🎓 Education Planning: Fund school, college, or higher studies at specific ages.

• 👨‍👩‍👧‍👦 Life Cover: Ensures the child’s future is secure, even in the parent’s absence.

• 📈 Bonus Additions: Participates in LIC’s profits, allowing for bonus payouts.

• 💰 Maturity Benefit: A lump sum is paid at maturity to help with career setup or business investments.

• 💡 Flexible Premium Payment: Choose monthly, quarterly, half-yearly, or yearly premium modes.

Similar LIC Plans for Child Career and Education

If the LIC Child Career Plan is not currently available under that exact name, consider these alternatives:

✅ LIC New Children’s Money Back Plan

Offers periodic payouts and life cover, ideal for school and college education expenses.

✅ LIC Jeevan Tarun

Designed specifically for education, with options to choose payout percentages and timings.

How to Choose the Best LIC Child Plan for Career Growth?

When selecting a child insurance plan, consider the following:

• Child’s Current Age

• Expected Age for Educational Milestones

• Your Financial Capacity

• Flexibility in Premium Payments

• Add-on Riders like waiver of premium on parent’s death

LIC Child Career Plan: Premium and Maturity Calculator

LIC offers online premium calculators to estimate how much you’ll pay and receive. Factors affecting this include:

• Age of the child

• Sum assured

• Policy term

• Frequency of premium payment

You can use LIC’s official calculator or consult a LIC advisor for a custom quote.

FAQs About LIC Child Career Plan

❓ What is the minimum age to start the LIC Child Career Plan?

Typically, you can start the plan for children aged 0 to 12 years, depending on the specific policy.

❓ Is the LIC Child Career Plan still available?

While LIC may not offer a plan by this exact name currently, alternatives like LIC Jeevan Tarun and New Children’s Money Back Plan offer similar benefits.

❓ What happens if the policyholder dies during the policy term?

LIC usually waives all future premiums, and the child still receives scheduled benefits, depending on the plan chosen.

❓ Can I take a loan against this policy?

Yes, most LIC child plans offer loan facilities after a few years of continuous premium payments.

❓ Are the payouts taxable?

No, the maturity and survival benefits are tax-free under Section 10(10D) of the Income Tax Act.

Conclusion

Investing in a LIC Child Career Plan is a smart way to secure your child’s education and professional journey. Whether you choose LIC Jeevan Tarun or the New Children’s Money Back Plan, both options offer robust financial protection, regular payouts, and peace of mind.

Don't wait for the future—start building it today.

Keywords Used:

• LIC Child Career Plan

• LIC children plan for education

• LIC Jeevan Tarun

• LIC New Children’s Money Back Plan

• Best LIC child plan for education

• LIC child plan premium calculator

• Child insurance policy in India