PolicyBros.in
Child PlansPlan 732NRI Eligible

LIC New Children's Money Back Plan

Money back at key ages for your child's milestones

What is LIC New Children's Money Back Plan?

LIC New Children's Money Back Plan (Plan 732) is a child plans plan from Life Insurance Corporation of India. In simple terms: money back at key ages for your child's milestones. You also get survival benefits: periodic survival benefits during the policy.

Key Highlights

Periodic money back at key ages for education milestones
Premium waiver on parent's death
Long-term bonus accumulation
Comprehensive child protection

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Sum Assured + bonuses; future premiums waived

When the Plan Matures (Maturity Benefit)

Final survival benefit + bonuses at maturity

Money You Get During the Plan (Survival Benefit)

Periodic survival benefits during the policy

Eligibility & Details

Minimum Entry Age0 years (last birthday)
Maximum Entry Age12 years
Minimum Sum Assured₹1,00,000
Policy Term25 years
Premium Paying Term13, 16, 19, 22, 25 years
Bonus Typesimple reversionary
Risk Levellow
NRI EligibleYes

Tax Benefits

  • Section 80C deduction on premiums
  • Maturity tax-free under 10(10D)

Who is This Plan Best For?

child educationchild milestonessavings

Frequently Asked Questions

What is LIC New Children's Money Back Plan (Plan 732)?

LIC New Children's Money Back Plan is a child plans plan from Life Insurance Corporation of India. Money back at key ages for your child's milestones.

What is the eligibility age for LIC New Children's Money Back Plan?

Entry age is between 0 and 12 years. Policy term: 25 to 25 years. Premium paying term: 13 to 25 years.

What is the minimum sum assured for LIC New Children's Money Back Plan?

Minimum sum assured is ₹1,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC New Children's Money Back Plan?

Section 80C deduction on premiums. Maturity tax-free under 10(10D).

Is LIC New Children's Money Back Plan available for NRIs?

Yes. LIC New Children's Money Back Plan is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC New Children's Money Back Plan?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

Interested in New Children's Money Back Plan?

Get a free consultation and exact premium quote for your age and needs.

View on LIC Official Site

Already have this policy?

Create a free account to track your premium due dates, get reminders, and see all your LIC policies in one dashboard.