Invest Rs 5,000 Monthly In LIC: How Much Money Can Your Child Get By Age 18?

LIC has introduced a child plan that allows parents to invest a fixed amount, such as Rs 5,000, every month. The policy matures when the child turns 18, at which point the accumulated sum is paid out as a lump sum. This structured savings approach is designed to help parents build a dedicated fund for their child's future education or other major milestones.

For investors, this product offers a disciplined way to save, as it combines regular contributions with the safety of a government-backed insurer. The maturity amount depends on the policy terms and the duration of the investment. It is important to review the specific terms and conditions before committing to understand the exact returns and benefits associated with the plan.

What to watch next: Investors should compare this plan with other long-term investment options like mutual funds or fixed deposits to ensure it aligns with their financial goals. Checking the policy's track record and understanding the lock-in period will help in making an informed decision.