Need A Financial Product Forums Insurance What is a participating Marriage/ education plan of LIC?

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    Atul Shah
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    What is a participating Marriage/ education plan of LIC?

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    This participating Marriage /educational plan of LIC help the policy holder to make arrangements of marriages of their children or the education of their children. Under the maturity of the plan, the policy holder (normally parents) when completes the term of the policy, then receives a sum of amount which is assured with vested bonuses in a lump sum or ten times half yearly installments. In case of demise of the policy holder (normally parents) before the maturity of the policy, the benefits received by the nominee are: (i) Instant payment of total amount which is equal to the assured amount. (ii) Waiver of all the future premiums and (iii) payment of a sum of amount which is assured with vested bonuses in a lump sum or ten times half yearly instalments.

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