Educational Annuity Plan LIC Policy, also known as Marriage Endowment Plan is an endowment assurance plan from Life Insurance Corporation of India. This policy from LIC is specially designed to gain benefits on the maturity date or from the maturity date to fulfil the child’s educational needs and marriage expenses (at later stage). You can pay the premiums either in a yearly, six-monthly, quarterly, monthly or salary deductions manner as per your suitability.
If the life assured dies during the term period of the policy, the sum assured and the accrued bonuses up to maturity are given. The policy holder can pay an additional premium and acquire supplementary benefits if he wants. The surrender value is given only when the policy has turned 3 years or more. The maturity benefit for Educational Annuity Plan from LIC is the amount obtained from addition of sum assured and all the bonuses given up to the maturity date.Lic Agent Mumbai | Lic Policy Mumbai | Lic India Bombay
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