| Year | Child Age | Premium | Money Back | Normal Cover | Cash Value |
|---|
LIC New Children’s Money Back Plan Calculator (Plan 932)
The LIC New Children’s Money Back Plan (Plan 932) is a traditional participating insurance plan designed to provide periodic money back payouts for a child’s education and future needs, along with life insurance protection.
The PlanMyReturns LIC Child Plan Calculator helps you estimate:
- Annual premium
- Money back payouts
- Maturity amount
- Total benefits received
- Net profit
- Year-wise policy illustration
All calculations are based on standard plan structure and are meant for planning and comparison.
What Is LIC New Children’s Money Back Plan (932)?
LIC New Children’s Money Back Plan is a non-linked, participating children’s plan offered by Life Insurance Corporation of India.
Key Purpose of the Plan
- Support child’s education milestones
- Provide guaranteed survival benefits
- Offer life cover during the entire policy term
- Deliver lump sum maturity benefit
The plan combines insurance protection + savings, with money returned at predefined stages.
Who Should Consider This Plan?
This plan is commonly considered by parents who want:
- Structured savings for school and college expenses
- Guaranteed payouts at fixed ages
- A disciplined, long-term savings approach
- Insurance cover along with savings
Policy Structure
Based on your calculator logic, the plan works as follows:
| Feature | Details |
|---|---|
| Entry age | 0 to 12 years |
| Policy term | 25 years |
| Premium paying term | 20 years |
| Sum Assured | ₹1,00,000 onwards |
| Premium mode | Annual |
| Risk cover | Full sum assured for entire term |
Money Back Benefits Explained
This plan pays money back benefits at three key stages.
Survival Benefits
Based on the Sum Assured selected:
- 20% of Sum Assured at policy year 18
- 20% of Sum Assured at policy year 20
- 20% of Sum Assured at policy year 22
These payouts are designed to coincide with higher education expenses.
Maturity Benefit
At the end of the 25th policy year:
- 40% of Sum Assured is paid as maturity amount
- In real policies, bonuses may apply
- This calculator shows a conservative estimate for clarity
Life Insurance Cover
- Full Sum Assured remains active throughout the policy term
- Provides financial protection in case of unfortunate events
- Coverage continues even after money back payouts
What This Calculator Shows You Clearly
Using this calculator, you can see:
- Estimated annual premium
- Total premiums paid over 20 years
- Total money back received
- Maturity amount at policy end
- Total benefit received
- Net profit over premiums paid
- Year-wise cash value illustration
- Break-even visibility through schedule
This is especially useful for parents comparing LIC child plans vs mutual funds or SSY.
Premium Calculation Logic
This calculator uses an approximate premium rate based on:
- Around ₹4,800 per ₹1 lakh of Sum Assured per year
- Premium varies with Sum Assured
- Actual LIC premiums may differ slightly due to underwriting factors
This keeps estimates realistic while avoiding overstatement.
Example
Suppose a parent buys LIC New Children’s Money Back Plan for a 3-year-old child with a Sum Assured of ₹5,00,000.
Estimated Outcome
- Annual premium: ~₹24,000
- Money back payouts at ages 21, 23, and 25
- Maturity amount at age 28
- Total benefits exceed total premiums paid
- Full life cover remains active throughout
Exact numbers vary based on Sum Assured.
How to Use This LIC Child Plan Calculator
- Select child’s entry age (0–12 years)
- Enter Sum Assured
- Click Calculate
- Review premium, money back, and maturity
- Check year-wise illustration
- Download CSV or share plan link if needed
No login or registration required.
LIC Child Plan vs Other Child Savings Options
LIC Child Plan vs Sukanya Samriddhi Yojana (SSY)
| Feature | LIC Child Plan | SSY |
|---|---|---|
| Returns | Moderate | Higher (govt-linked) |
| Risk cover | Yes | No |
| Liquidity | Fixed payouts | Lock-in |
| Suitability | Conservative | Long-term savings |
LIC Child Plan vs SIP
| Feature | LIC Child Plan | SIP |
|---|---|---|
| Returns | Lower | Higher potential |
| Risk | Low | Market-linked |
| Guarantees | Yes | No |
| Discipline | Forced | Optional |
Key Takeaways
- Fixed money back at predefined policy years
- Premium payable only for 20 years
- Benefits spread across education timeline
- Full sum assured coverage for 25 years
- Conservative, predictable planning tool
Frequently Asked Questions
LIC New Children’s Money Back Plan (932) is a traditional, non-linked, participating insurance plan designed to provide money back payouts at key education stages, along with life insurance cover and a maturity benefit.
Policy term: 25 years
Premium paying term: 20 years
Premiums are paid only for the first 20 years, while benefits continue for the full 25-year duration.
Under this plan, money back benefits are paid at:
Policy year 18
Policy year 20
Policy year 22
Each payout is 20% of the Sum Assured, as shown in this calculator.
At maturity (end of 25th policy year), 40% of the Sum Assured is paid as the maturity benefit.
In real policies, bonuses may apply, but this calculator shows a conservative estimate for clarity.
Yes. The full Sum Assured remains active for the entire policy term of 25 years, even after money back payouts have started.
No. Premiums must be paid for the entire premium paying term of 20 years, irrespective of when money back benefits are received.
It can be suitable for parents who prefer:
Guaranteed, predictable payouts
Low risk savings
Insurance + savings in one plan
However, returns are generally lower compared to market-linked options like SIPs.