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Life insurance to investment: Expert answers all financial planning queries

Should you start investing in LIC's child plan for your daughter ?

Kartik Jhaveri 

I have an 18-year old daughter. I am divorced, and she stays with my spouse. I started investing in LIC’s child plan in my daughter’s name when she was 2. I paid the last premium last year.

The policy is due for the benefit in the upcoming year, but I don’t want to give her the money to her anymore. What can I do? You can receive the proceeds in your name. You have to approach the insurer and execute what is known as an absolute assignment. By doing so, you will now become the owner of the policy, and therefore you will be entitled to receive all the benefits from ...

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First Published: Wed, January 01 2020. 21:45 IST
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