LIC'S NEW CHILD PLAN - SIKSHA GUARANTEE PACKAGE LIC of India Presents, New Child Plan, Education Guarantee: Pay premium for 15 years & get continuous money back on 5th 10th and every year for child's education from 15th year to 20th year. This plan covers all your child's educational expanses. Everyone saves for their child's future needs and this is the best option available. kindly go through below given illustration.