The Life Insurance Corporation of India has broad-based its children plans to offer greater flexibility to policyholders.
The entry age for the child plan -- Jeevan Kishore -- now starts from the time the child is born as against one year earlier.
The annual premium thus gets reduced correspondingly.
Further, LIC has added more features to its plan, allowing for greater flexibility in terms of maturity of the policy.
The corporation now permits money back on an annual basis after the child attains the age of 26 till 30 years, whichever year has been pre-selected. Earlier, the money was paid every five years.
LIC has a number of children plans, but Jeevan Kishore is among the most popular in the market today.
Meanwhile, actuaries are re-looking at LIC's Komal Jeevan child plan, which offers a guaranteed annual bonus of 7.5 per cent. LIC senior officials said that no final view has yet been taken.