LIC New Children’s Money Back Plan 732 calculator
LIC New Children’s Money Back Plan 732 Calculator
A Par, Non-Linked, Life, Individual Savings Plan — Designed for Your Child’s Future
| Policy Year | Child Age | Annual Premium (incl. GST) | Cumulative Premium | Survival Benefit | Cum. Bonus | Death Benefit | Maturity / Total Benefit |
|---|
LIC New Children’s Money Back Plan 732 calculator- Details Guide
Planning for a child’s future is one of the most important financial decisions. Whether the goal is higher education, career development, or marriage planning, starting early can make a big difference.
The LIC New Children’s Money Back Plan 732 Calculator helps parents and grandparents estimate premiums, maturity value, survival benefits, bonus projections, and overall policy benefits before purchasing the policy. Instead of relying on assumptions, you can see how the plan may support your child’s future financial needs.
This plan combines life insurance protection with scheduled payouts during important stages of a child’s life, making it a popular choice for long-term child financial planning.
LIC New Children’s Money Back Plan 732 Premium & Maturity Calculator
The calculator helps estimate premium payable and maturity value based on the child’s age and chosen Basic Sum Assured.
Premiums vary depending on factors such as age at entry, sum assured, premium payment mode, and rider selection.
The maturity calculator estimates the amount payable when the child reaches age 25, including eligible bonuses declared during the policy term.
Premium Calculation Results
The calculator generally estimates:
- Annual premium
- Half-yearly premium
- Quarterly premium
- Monthly premium
- Total premium payable
Maturity Value Results
The maturity benefit includes:
- 40% of Basic Sum Assured
- Vested Simple Reversionary Bonus
- Final Additional Bonus, if declared
Since bonus rates are not guaranteed, maturity projections should be treated as estimates.
What is LIC New Children’s Money Back Plan 732 Calculator?
A LIC New Children’s Money Back Plan 732 Calculator is an online tool that estimates policy benefits under LIC’s New Children’s Money Back Plan.
It helps calculate premiums, survival benefits, maturity value, death benefits, surrender value, and bonus projections.
For parents comparing different child plans, the calculator provides a practical way to understand future benefits before making a commitment.
LIC New Children’s Money Back Plan 732 Overview
LIC New Children’s Money Back Plan 732 is a participating, non-linked individual savings plan designed to create a financial fund for a child.
The policy provides money-back benefits at ages 18, 20, and 22, followed by a maturity benefit at age 25.
Key Features of LIC Plan 732
- Money-back benefits during adulthood
- Maturity benefit at age 25
- Life insurance protection
- Premium Waiver Benefit Rider available
- Participation in LIC profits
- Loan facility available
- Policy ownership transfers to the child at age 18
Policy Details
| Feature | Details |
| Entry Age | 0 to 12 Years |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No Limit |
| Policy Term | 25 – Entry Age |
| Premium Paying Term | Same as Policy Term |
| Vesting Age | 18 Years |
Risk Commencement Rules
For children below age 8, risk begins either two years from policy commencement or on the policy anniversary immediately following completion of age 8, whichever occurs earlier.
For children aged 8 years or above, risk starts immediately.
Policy Vesting at Age 18
Once the child reaches age 18, the policy automatically vests in the child and ownership transfers from the proposer to the life assured.
LIC New Children’s Money Back Plan 732 Eligibility Criteria
The policy is available for children from birth up to age 12.
A parent or grandparent can purchase the policy on behalf of the child.
The policy term depends on the child’s age at entry and continues until the child reaches age 25.
How to Use LIC New Children’s Money Back Plan 732 Calculator
The calculator is simple to use.
Enter the child’s age, Basic Sum Assured, premium payment mode, and bonus assumptions if required.
The calculator then estimates premium payable, survival benefits, maturity value, death benefits, and policy projections.
This helps families compare different coverage amounts and choose a suitable option.
LIC New Children’s Money Back Plan 732 Benefits
The LIC New Children’s Money Back Plan 732 offers a balanced combination of savings and life insurance protection for a child’s future. Its structured payouts at important ages, along with bonus participation and maturity benefits, help families plan for education, career goals, and other major life expenses with greater confidence. Here in below details breakdown:-
Survival Benefits (Age 18, 20 & 22)
The policy pays 20% of the Basic Sum Assured at:
- Age 18
- Age 20
- Age 22
A total of 60% of the Basic Sum Assured is paid before maturity.
These payouts often coincide with higher education expenses, professional courses, or other major financial needs.
Maturity Benefit at Age 25
At age 25, the policy pays:
- 40% of Basic Sum Assured
- Vested Simple Reversionary Bonus
- Final Additional Bonus, if declared
The maturity benefit can support career goals, business plans, or other future milestones.
Death Benefit
After commencement of risk, the death benefit is the higher of:
- Basic Sum Assured, or
- 7 times the Annualized Premium
Plus vested Simple Reversionary Bonus and Final Additional Bonus, if applicable.
The death benefit will not be less than 105% of the total premiums paid up to the date of death.
If death occurs before commencement of risk for a child who entered below age 8, LIC pays back the total premiums paid without interest.
Premium Waiver Benefit Rider (PWB Rider)
The Premium Waiver Benefit Rider is one of the most valuable features of this plan.
If the proposer dies during the rider term, future premiums are waived subject to rider conditions, while policy benefits continue for the child.
This helps protect the child’s future financial goals even when the family faces an unexpected loss.
Bonus Benefits & Tax Benefits
The policy participates in LIC profits through Simple Reversionary Bonus and Final Additional Bonus.
Eligible tax benefits may be available under prevailing income tax laws and conditions.
LIC New Children’s Money Back Plan 732 Benefit Illustration
Consider a policy with a Basic Sum Assured of ₹10 lakh.
The child receives:
- ₹2 lakh at age 18
- ₹2 lakh at age 20
- ₹2 lakh at age 22
Total survival benefits become ₹6 lakh.
At age 25, the child receives the remaining ₹4 lakh along with eligible bonuses.
This structure allows benefits to arrive when many families commonly face higher education and career-related expenses.
LIC New Children’s Money Back Plan 732 Surrender Value & Loan Facility
Guaranteed Surrender Value becomes available after payment of at least two full years’ premiums.
Special Surrender Value may be available after completion of one policy year and payment of one full year’s premium, subject to policy conditions.
Loans are available after completion of one policy year and payment of one full year’s premium.
Maximum loan limits depend on policy status and surrender value:
- In-force Policy: Up to 50% before two full years’ premiums and 75% thereafter
- Paid-up Policy: Up to 40% before two full years’ premiums and 65% thereafter
Before surrendering a policy, it is worth comparing surrender value against future benefits because continuing the policy may provide greater long-term value.
LIC New Children’s Money Back Plan 732 vs Jeevan Tarun Plan
Both plans are designed to help families build funds for a child’s future.
Plan 732 provides fixed money-back benefits at ages 18, 20, and 22, followed by maturity at age 25.
Jeevan Tarun offers greater flexibility in choosing benefit payout options.
Families looking for predictable payouts often prefer Plan 732, while those seeking flexibility may find Jeevan Tarun more suitable.
But the LIC Jeevan Tarun Plan 934 is no longer available for purchase, its offcially withdrawn by the Life Insurance Corporation of India.
Advantages of LIC New Children’s Money Back Plan 732
This plan helps create a structured financial fund for a child while providing life insurance protection.
Second thing, The money-back payouts align with common education milestones, and the Premium Waiver Benefit Rider offers additional protection if the proposer is no longer around.
And the last one, the combination of survival benefits, maturity benefits, bonuses, and life cover makes it a useful long-term child savings option.
Important Things to Consider Before Buying
Many buyers focus only on maturity value.
A better approach is to evaluate the entire benefit structure, including survival benefits, death benefits, bonuses, and Premium Waiver Benefit protection.
Also remember that bonus projections are estimates and should not be treated as guaranteed returns.
If you are comparing other LIC money-back plans, you can also explore the LIC New Money Back Plan 721 Calculator, LIC Money Back Plan 720 Calculator, and LIC Bima Shree Plan 748 Calculator to compare benefits and payout structures.
Frequently Asked Questions (FAQs)
What is LIC New Children’s Money Back Plan 732?
It is a participating child savings and insurance plan that provides money-back benefits, life cover, bonus participation, and maturity benefits up to age 25.
Who can purchase LIC Plan 732?
A parent or grandparent can purchase the policy for a child.
What are the survival, maturity and death benefits?
The policy pays 20% of the Basic Sum Assured at ages 18, 20, and 22. The remaining 40% plus eligible bonuses is paid at age 25. Death benefits are payable according to policy conditions.
Can I take a loan or surrender the policy?
Yes. Loans and surrender values are available subject to policy conditions and eligibility requirements.
Is LIC Plan 732 suitable for child education planning?
Yes. The payout structure is specifically designed around ages when higher education and career-related expenses commonly arise.
Final Verdict & My Point of View
Finnaly i want to say that, the LIC New Children’s Money Back Plan 732 Calculator helps parents and grandparents understand premiums, maturity value, survival benefits, bonus projections, surrender value, and overall policy benefits before purchasing the plan.
Its biggest strength is the timing of the payouts. The money-back benefits arrive at ages when education and career expenses often increase, while the maturity benefit at age 25 can support larger financial goals. The Premium Waiver Benefit Rider adds an extra layer of security by helping ensure that the child’s future plans remain protected.
Before making a decision, use the calculator to compare different sum assured options and understand how the policy may fit your family’s long-term goals. A few minutes spent calculating today can help you plan your child’s future with greater confidence.
Mohibul Islam is an LIC agent with 7+ years of experience. He also works in web development and blogging. He creates simple tools on LIC Plan Calculator to help people understand LIC plans, calculate benefits, and make better financial decisions easily.