LIC komal jeevan policy is the best LIC plan for your children. This is children’s money back plan. This plan provides financial protection against death during the term of the policy with periodic payments at specified durations on survival. This can be taken by any grandparent or any of the parents for the children between ages of 0 to 10 years. The premium of the policy is to be paid till the child attains the age of 17 years. The risk covers starts only after two policy years or when the child attains the age of 7 years. If you want to surrender the policy then you must take care that the policy must be in power for at least three years. In case of the surrender of the policy the insured does not only get the premium paid during first or extra premium but also the guaranteed value of 90% of premium paid before the surrender of the policy once the risk has started then the surrender value is 90 percent of the premium paid and 30 percent of extra premium paid.