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LIC New Children's Money Back Plan in Pune
Everything You Need to Know About LIC New Children's Money Back Plan – Explained by Pune's LIC Expert
LIC New Children's Money Back Plan (Plan 832) is a participating, non-linked, money back insurance plan specifically designed to provide financial support for a child's education milestones and key life events. For Pune parents planning for school and college education costs, this plan provides predictable, milestone-aligned survival benefits combined with life insurance cover for the child.
The plan provides survival benefits of 20% of the sum assured at ages 18, 20, and 22, with the remaining 40% of sum assured plus all accrued bonuses paid at maturity (age 25). The life cover applies from inception, and a premium waiver operates if the proposer parent dies. This structure makes it ideal for covering school fees (age 18), undergraduate (age 20), postgraduate (age 22), and higher studies (age 25).
Our Pune advisors help parents design the optimal sum assured based on projected education costs, compare New Children's Money Back with LIC Amrit Bal and Jeevan Tarun, and complete enrollment with full home-visit documentation support. Call +91-81089 19187 for a free consultation in Pune.
Pune clients who enrolled in LIC New Children's Money Back Plan through our advisory share their experience.
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What is LIC New Children's Money Back Plan?
LIC New Children's Money Back Plan (Plan 832) is a participating child insurance plan providing survival benefits of 20% of sum assured at ages 18, 20, and 22, and 40% plus bonuses at maturity (age 25). It covers the child from inception and includes a premium waiver if the parent proposer dies.
What are the survival benefits in LIC New Children's Money Back Plan?
Survival benefits are: 20% of basic sum assured at age 18, 20% at age 20, 20% at age 22, and 40% of basic sum assured plus all accrued bonuses at maturity (age 25). For a ₹10 lakh sum assured, this means ₹2 lakh at ages 18, 20, and 22, then ₹4 lakh + bonuses at age 25.
What is the minimum age to buy LIC New Children's Money Back Plan?
The minimum age for the life insured (child) is 0 years (90 days) and the maximum is 12 years. The policy matures when the child reaches 25. The proposer is typically the parent whose life is not insured but a premium waiver operates on their death.
Can I buy LIC New Children's Money Back Plan for a 10-year-old in Pune?
