Life Insurance Corporation of India - Children Deferred Endowment.

Tax benefit example

This is an Endowment Assurance plan designed to enable a parent or a legal guardian or any near  relative of the child (called proposer) to provide insurance cover on the life of the child (called life assured).The plan has two stages, one covering the period from the date of commencement of policy to the Deferred Date (called deferment period) and the other covering the period from the Deferred Date to  the date of maturity. The insurance cover on the child's life starts from the 

Deferred date and is available during the latter period. 

The Deferred Date in case of plan No 41 is the policy anniversary date coinciding with or next following the date on which the child completes 21 years of age.In case of plan no 50 it is the policy anniversary date coinciding with or next following the 18th birthday of the child.