LIC New Children’s Money Back Plan 732
UIN: 512N296V03 | A Participating, Non-Linked, Money Back Plan
Plan Highlights:
- Money Back at ages 18, 20 & 22 (20% of Sum Assured each)
- Maturity benefit at age 25 (40% of Sum Assured + Bonuses)
- Entry Age: 0-12 years | Maturity Age: 25 years
- Minimum Sum Assured: ₹2,00,000
- Premium Waiver Benefit Rider Available
₹4.5L-₹9L → multiples of ₹50,000
Above ₹9L → multiples of ₹1,00,000
Policy Illustration
Survival Benefit Schedule
• Premium estimates are approximate and exclude GST.
• GST assumed: 4.5% for 1st year and 2.25% thereafter.
• Bonus rates are assumed at 4% p.a. and are not guaranteed.
• Actual premiums and benefits may vary based on LIC underwriting.
• Premium Waiver Benefit Rider waives future premiums if parent dies during policy term.
• This calculator is for educational illustration purposes only.
LIC New Children’s Money Back Plan 732 Calculator
The LIC New Children’s Money Back Plan 732 Calculator is a useful financial planning tool designed for parents and guardians who want to secure their child’s future through planned savings and guaranteed benefits.
Every parent wishes to provide the best possible future for their children, whether it is higher education, career planning, or marriage-related expenses. The LIC New Children’s Money Back Plan 732 has been created to support these long-term goals by combining savings benefits with life insurance protection.
Using this policy, parents can systematically prepare for important financial milestones while enjoying peace of mind that their child’s future financial needs are better protected.
Overview of LIC New Children’s Money Back Plan 732
The LIC New Children’s Money Back Plan 732 is a traditional, participating, non-linked money-back insurance policy offered by Life Insurance Corporation of India. Since it is a participating plan, policyholders become eligible for bonuses declared by LIC from time to time.
The policy provides periodic money-back payouts during the policy term along with maturity benefits and insurance protection. A parent or grandparent can purchase this plan for a child between 0 and 12 years of age, making it a flexible option for child-focused financial planning.
The plan also offers multiple premium payment modes and customization options, allowing families to choose a payment structure that suits their financial situation and future objectives.
Main Features of LIC New Children’s Money Back Plan 732
Here are some of the important highlights of the LIC New Children’s Money Back Plan 732 that make it a popular child insurance and savings option:
- Entry Age: The child can be enrolled between 0 and 12 years of age (last birthday).
- Maturity Age: The policy matures when the child reaches 25 years of age.
- Policy Duration: The policy term is calculated as 25 years minus the child’s entry age. For example, if the child enters at age 8, the policy term becomes 17 years.
- Premium Payment Options: Premiums can be paid yearly, half-yearly, quarterly, or monthly according to convenience.
- Minimum Sum Assured: The minimum basic sum assured generally starts from ₹1,00,000 or ₹2,00,000 depending on policy conditions and sources.
- Maximum Sum Assured: There is no upper limit for the sum assured, and it is available in multiples of ₹10,000.
- Survival Benefits: The policy provides 20% of the basic sum assured when the child reaches 18, 20, and 22 years of age.
- Maturity Benefit: At age 25, the remaining 40% of the sum assured is paid along with applicable bonuses.
- Death Benefit: In case of the child’s unfortunate demise during the policy term, the death benefit along with accumulated bonuses becomes payable according to policy conditions.
- Loan Facility: Policyholders can avail of a loan facility after completion of the required policy duration.
- Optional Rider Benefit: The Premium Waiver Benefit Rider can be added, under which future premiums are waived if the parent or proposer passes away during the policy term.
These features make the LIC New Children’s Money Back Plan 732 a balanced combination of savings, periodic payouts, and financial protection for a child’s future milestones.
Importance of LIC New Children’s Money Back Plan 732 Calculator
The LIC New Children’s Money Back Plan 732 Calculator helps parents estimate policy benefits, premium payments, and future payouts in a simple and transparent manner.
Using the calculator offers several advantages, such as:
- Calculating premiums based on the child’s age, sum assured, and policy duration
- Estimating survival benefits payable at ages 18, 20, and 22
- Projecting maturity benefits payable at age 25
- Comparing different policy combinations according to budget and future goals
- Understanding bonus accumulation, tax savings, surrender values, and loan eligibility
The tool allows parents to make informed financial decisions with realistic projections and better future planning.
Benefits of LIC New Children’s Money Back Plan 732
Survival Benefits
The policy provides survival payouts at important stages of the child’s life. At ages 18, 20, and 22, the child receives 20% of the basic sum assured each time. These payments can help cover educational expenses, professional courses, or other major financial needs.
Maturity Benefit
When the child reaches 25 years of age, the policy pays 40% of the sum assured along with vested reversionary bonuses and possible final additional bonuses. This amount can support higher education, business plans, marriage expenses, or other future goals.
Death Benefit
If the child passes away during the policy term, the nominee receives the death benefit along with accumulated bonuses. Previously paid survival benefits are not deducted from the claim amount, ensuring better financial protection for the family.
Premium Waiver Benefit Rider
The optional Premium Waiver Benefit Rider ensures that if the parent or legal guardian dies during the policy term, future premiums are waived while the policy benefits continue for the child.
Participation in LIC Bonuses
Since this is a participating insurance policy, it becomes eligible for annual bonuses declared by Life Insurance Corporation of India, increasing the overall maturity value.
Tax Advantages
- Premiums paid under the policy may qualify for deductions under Section 80C.
- Survival benefits, maturity payouts, and death benefits are generally tax-free under Section 10(10D), subject to prevailing tax rules.
Eligibility Conditions for LIC New Children’s Money Back Plan 732
| Parameter | Minimum | Maximum |
|---|---|---|
| Entry Age | 0 years | 12 years |
| Maturity Age | 25 years | 25 years |
| Policy Term | 25 minus entry age | 25 minus entry age |
| Minimum Sum Assured | ₹2,00,000 | No Limit |
| Premium Paying Term | Same as policy term | — |
| Premium Payment Modes | Yearly, Half-Yearly, Quarterly, Monthly | — |
The policy offers flexibility to parents and grandparents who wish to start financial planning for a child from an early age.
How to Use LIC New Children’s Money Back Plan 732 Calculator
Step 1: Open a Trusted LIC Calculator
Visit a reliable LIC premium calculator platform or insurance portal.
Step 2: Enter Required Details
Provide information such as:
- Child’s age
- Desired sum assured
- Premium payment frequency
- Policy duration
- Optional rider preferences
Step 3: Review Estimated Benefits
The calculator displays estimated premium amounts, money-back benefits, maturity value, and insurance protection details.
Step 4: Compare Different Scenarios
Users can modify the sum assured, payment frequency, or rider selection to compare multiple policy options.
Step 5: Choose the Most Suitable Plan
Select the policy structure that best fits long-term financial objectives and affordability.
Example of LIC New Children’s Money Back Plan 732 Calculation
Suppose a child named Aditya enters the policy at age 5 with a sum assured of ₹4,00,000.
Estimated Policy Details
- Policy Term: 20 years
- Premium Payment Mode: Annual
Survival Benefits
- Age 18: ₹80,000
- Age 20: ₹80,000
- Age 22: ₹80,000
Maturity Benefit
- ₹1,60,000 plus applicable bonuses at age 25
The policy structure helps provide financial support for education, career preparation, and other major life goals.
Surrender, Loan, and Revival Features
Surrender Facility
The policy can usually be surrendered after paying premiums for at least two years, subject to LIC rules.
Loan Availability
A loan facility becomes available after completion of specified policy years.
Revival Option
If the policy lapses, it may generally be revived within the allowed revival period by paying pending premiums and fulfilling policy conditions.
Why LIC New Children’s Money Back Plan 732 Is Popular
This child insurance plan is preferred by many Indian families because it combines guaranteed milestone payouts with life protection and bonus benefits.
Key reasons for its popularity include:
- Structured payouts for education and future milestones
- Premium Waiver Rider protection
- Tax-saving advantages
- Participation in LIC bonus declarations
- Reliable long-term savings for children
Comparison Between LIC Children’s Money Back Plan 732 and Jeevan Tarun 734
| Feature | Children’s Money Back 732 | Jeevan Tarun 734 |
|---|---|---|
| Survival Benefits | Fixed payouts at 18, 20, and 22 | Flexible payouts between 20–24 years |
| Maturity Benefit | 40% of SA plus bonuses at 25 | Flexible maturity structure |
| Premium Waiver Rider | Available | Available |
| Entry Age | 0–12 years | 0–12 years |
| Flexibility | Lower | Higher |
| Claim Settlement | Simple | Simple |
The Children’s Money Back Plan 732 is suitable for parents who prefer fixed milestone-based payouts, while Jeevan Tarun 734 provides greater flexibility in benefit selection.
How to Purchase LIC New Children’s Money Back Plan 732
The policy can be purchased through:
- LIC branch offices
- LIC agents and brokers
- Authorised insurance marketing firms
- Official LIC online platform and trusted insurance websites
Applicants generally need to submit:
- Child’s age proof
- Parent or guardian identity proof
- Address proof
After selecting the sum assured, premium frequency, and optional riders, the policy application process can be completed.
Secure Your Child’s Financial Future
With increasing education costs and financial uncertainties, early planning has become extremely important. LIC New Children’s Money Back Plan 732 offers a combination of savings, insurance protection, milestone-based payouts, and bonus participation to help parents prepare for their child’s future with confidence.
Frequently Asked Questions About LIC New Children’s Money Back Plan 732
What Is LIC New Children’s Money Back Plan 732?
It is a participating money-back insurance plan designed to support a child’s education, career, and future financial goals through periodic payouts and maturity benefits.
Who Can Buy This Policy?
A parent or grandparent can purchase this plan for a child between 0 and 12 years of age.
What Survival Benefits Are Provided?
The policy pays 20% of the basic sum assured at ages 18, 20, and 22.
What Is the Maturity Benefit?
At age 25, the policyholder receives 40% of the sum assured along with bonuses declared by LIC.
Is There a Revival Option for Lapsed Policies?
Yes, lapsed policies can generally be revived within the specified revival period after payment of due premiums and applicable conditions.
Conclusion
The LIC New Children’s Money Back Plan 732 is more than just a child insurance policy; it represents a long-term financial commitment toward securing your child’s future goals and important life milestones. With guaranteed survival benefits, bonus participation, maturity payouts, and strong life coverage, the plan offers a balanced combination of savings and protection.
By using the LIC New Children’s Money Back Plan 732 Calculator, parents can easily estimate future benefits, premium commitments, and payout timelines with greater clarity. This helps families make informed financial decisions and prepare confidently for expenses related to education, career planning, marriage, and other future aspirations.
For parents seeking financial security, structured savings, and peace of mind, this LIC plan can be a dependable option for building a stronger future for their child.
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