New Delhi, April 27 -- Do you have a child and are you looking to secure their educational future? There are several prominent LIC child plans to help parents combat rising educational costs, inflation, and other associated risks, with life cover, savings, and Section 80C tax benefits.

Keeping this in mind, let us discuss the top LIC plans based on the Internal Rate of Return (IRR). The plans' features include survival benefits from age 20 and maturity benefits when the child turns 25, enabling funding for college and foreign education.

Before we proceed, let us take a look at the concept of Internal Rate of Return, so that the categorisation becomes even more comprehensive and easier to understand.

The Internal Rate of Return is the a...