Use LIC’s New Children’s Money Back (Plan 732) Calculator to estimate premium, survival benefits, and maturity value. Get accurate projections for Plan No. 732 (UIN: 512N296V03) and secure your child’s future with confidence.
The LIC New Children’s Money Back Plan 732 (Table No. 732) is a traditional plan that was introduced by LIC of India on December 31, 2024. The LIC New Children’s Money Back Plan 732 is a standard money-back policy that requires premium payments. Through money back at the ages of 18, 20, and 22, LIC’s “New Children Money Back policy 732” is specifically created to address the different financial needs of children. LIC’s New Children Money Back Plan 732 is currently available for purchase online via credit/debit cards, net banking, UPI, and wallets on our LIC’s New Business Platform.
LIC New Children’s Money Back (Plan 732)
Plan No. 732 (UIN: 512N296V03) – Estimate your benefits
The goal of every Indian parent is to give their kids the best possible future, whether that means education, further education, marriage, or financial independence. However, financial planning becomes essential as costs rise and inflation increases.
In addition to offering life insurance for the child, this policy is intended to guarantee that parents can cover their child’s educational milestones, career planning, and marriage costs.
Plan Overview
LIC’s New Children’s Money Back Plan (Plan No. 732, UIN: 512N296V03) is a non-linked, participating, money-back policy specially designed to secure your child’s future. It provides survival benefits at key milestones, a maturity benefit at policy completion, and life cover throughout the term.
Whether it’s for education, marriage, or career goals, this plan ensures financial support when your child needs it most.
Key Features of LIC New Children’s Money Back Plan 732
| Feature | Details |
|---|---|
| Plan Name | LIC New Children’s Money Back Plan 732 |
| Plan Type | Non-linked, Participating, Money Back Plan |
| Entry Age (Child) | 0 years (birth) – 12 years |
| Maturity Age (Child) | 25 years |
| Policy Term | (25 – Child’s Age at entry) years |
| Minimum Basic Sum Assured (SA) | ₹1,00,000 |
| Maximum Basic Sum Assured (SA) | No Limit (in multiples of ₹10,000) |
| Premium Payment Term (PPT) | Policy Term minus 5 years |
| Survival Benefits | 20% of SA at ages 18, 20, 22 |
| Maturity Benefit | 40% of SA + Bonuses at age 25 |
| Death Benefit | Sum Assured on Death + Bonuses |
| Loan Facility | Available |
| Optional Rider | Premium Waiver Benefit Rider (if parent dies, premiums waived) |
Key Benefits of LIC New Children’s Money Back Plan (Table No. 932)
1. Survival Benefits
- The child receives 20% of the Basic Sum Assured at the ages of 18, 20, and 22.
- These payouts are perfectly timed for higher education milestones such as admission fees, graduation, and post-graduation.
2. Maturity Benefit
- On completion of 25 years of age, the child gets 40% of Sum Assured + Simple Reversionary Bonus + Final Additional Bonus (FAB).
- This lump sum is ideal for marriage expenses, starting a career, or setting up a new home.
3. Death Benefit
- In case the child (Life Assured) passes away before maturity:
- Sum Assured on Death + Bonuses are paid to the nominee.
- Survival benefits already paid are not deducted from the claim.
4. Premium Waiver Benefit Rider (Optional but Highly Valuable)
- If the parent/legal guardian passes away during the policy term, future premiums are waived.
- The plan continues as normal, and the child still receives all scheduled payouts and maturity benefits.
5. Participation in Bonuses
- Being a participating plan, it is eligible for LIC’s annual bonuses, thereby increasing the maturity value over time.
6. Tax Benefits
- Premiums qualify for deduction under Section 80C of the Income Tax Act.
- Maturity and survival payouts are usually tax-free under Section 10(10D).
Example – Premium & Benefit Illustration
Case Study: Mr. Ramesh purchases LIC’s New Children’s Money Back Plan for his 5-year-old son.
- Sum Assured: ₹10,00,000
- Policy Term: 20 years (25 – 5)
- Premium Paying Term: 15 years
- Annual Premium: ~₹45,000
Expected Benefits
| Child’s Age | Event | Benefit |
|---|---|---|
| 18 years | Survival Benefit | ₹2,00,000 (20% of SA) |
| 20 years | Survival Benefit | ₹2,00,000 |
| 22 years | Survival Benefit | ₹2,00,000 |
| 25 years | Maturity | ₹4,00,000 + Bonuses + FAB (~₹6–8 lakh extra) |
✅ Total Expected Return: ~₹16–18 lakh
💡 Ensures timely funds for college admissions, higher studies, and marriage.
Investor Scenarios
Education Planning
- In accordance with their higher education milestones, parents who enrol their children in the plan at age three will receive payouts at ages 18, 20, and 22.
Marriage Planning
- The policy generates payouts for a 7-year-old daughter at ages 18, 20, and 22, and at maturity at age 25, it offers money for marriage or a career.
Dual Protection (with Rider)
- In the event that a parent passes away too soon, LIC waives the premiums while still paying the child in full, guaranteeing that future plans won’t be financially hampered.
Expert Opinions
- Insurance Advisors: “Best for milestone-based payouts with added security through the Premium Waiver Rider.”
- Financial Planners: “IRR ~5.5–6.5%, safe and ideal for risk-averse parents.”
- Market Analysts: “Not as high-return as mutual funds, but offers unmatched safety and certainty.”
Comparison with Other LIC Plans
| Plan | Focus | Key Feature | Best For |
|---|---|---|---|
| Children’s Money Back 932 | Child Milestones | 20% SA at 18, 20, 22 + maturity at 25 | Education & Marriage |
| Jeevan Tarun 934 | Higher Studies | Flexible payouts between 20–24 years | College Education |
| Jeevan Umang 945 | Lifetime Income | 8% yearly income post-PPT | Retirement Planning |
| New Endowment 914 | Wealth Accumulation | Lump sum maturity benefit | General Savings |
Real-Life Investor Examples
- Example 1 – Education Goal:
Mrs. Sharma invests ₹15 lakh Sum Assured for her daughter at age 2.- Age 18 → ₹3 lakh (college admission)
- Age 20 → ₹3 lakh (graduation fees)
- Age 22 → ₹3 lakh (PG fees)
- Age 25 → ₹6 lakh + Bonuses (~₹10 lakh)
Total ~₹19–20 lakh for education & marriage
- Example 2 – Father with Premium Waiver Rider:
Mr. Verma buys the plan for his 8-year-old son with ₹10 lakh SA. Unfortunately, he dies at 42. LIC waives premiums, but his son still gets:- ₹2 lakh each at 18, 20, 22
- ~₹10 lakh at 25 (including bonuses)
Dreams secured despite tragedy.
Strengths & Limitations
Strengths ✅
- Structured payouts at 18, 20, 22, and 25 years
- Insurance + Investment + Bonus benefits
- Premium Waiver Rider protects against uncertainties
- Tax savings under 80C & 10(10D)
- Loan facility available
Limitations ❌
- Moderate returns (~5.5–6.5% IRR, not equity-like growth)
- Long-term lock-in till age 25
- No annual income option (only milestone payouts)
FAQs
Entry Age: 0–12 years
Maturity Age: 25 years
At ages 18, 20, 22 → 20% of Sum Assured each time
At 25 years → Remaining 40% + Bonuses
No, survival benefits do not reduce the death claim amount.
Not mandatory, but highly recommended for parents to ensure continuity if they pass away.
The Internal Rate of Return (IRR) is approx. 5.5–6.5%, but it ensures safety and certainty.
Mutual funds may give higher returns, but this plan offers guaranteed benefits + insurance cover, making it suitable for conservative investors.
Premiums qualify for 80C tax deduction, and benefits are usually tax-free under Section 10(10D).
Yes, loans are available after the policy acquires surrender value.