LIC New Children’s Money-Back Plan (732) — Premium & Calculator
LIC New Children’s Money-Back Plan (732) builds a fund for a child’s higher education and milestones, paying money back at key ages with full cover on the child. Check the premium below.
Calculate my premium →About LIC New Children’s Money-Back Plan (732)
LIC New Children’s Money-Back Plan is a participating, non-linked money-back plan taken on the life of a child (entry age 0 to 12). The policy term is 25 minus the child’s age, so it matures around age 25. Survival benefits equal to 20% of the Basic Sum Assured are paid as the child reaches ages 18, 20 and 22 — aligning with education milestones — and 40% plus bonuses is paid at maturity.
It is a structured way for parents and grandparents to save for a child’s future with periodic support at the right ages.
Key details at a glance
| Plan type | Children’s Money-Back |
| Entry age | 0 to 12 years |
| Policy term | 25 minus child’s age |
| Minimum sum assured | ₹ 1,00,000 |
| GST on premium | Nil (exempt from 22 Sep 2025) |
Benefits
- Education-linked money-back: 20% of Basic Sum Assured paid at ages 18, 20 and 22.
- Maturity benefit: 40% of Basic Sum Assured plus vested bonuses and Final Additional Bonus, around age 25.
- Life cover on the child throughout the term, with optional premium-waiver benefit on the proposer.
- Flexible entry: can be started any time from the child’s birth up to age 12.
How much is the premium?
The premium depends on your age, the term or paying period you choose, and the sum assured. The figures here come from LIC’s own official rate tables, so they match LIC’s quotation to the rupee.
Frequently asked questions
When are the money-back payments made?
At the child’s ages 18, 20 and 22 (20% of the sum assured each), with 40% plus bonuses at maturity near age 25.
What is the entry age?
The child can be 0 to 12 years old at entry; the term is 25 minus the entry age.
What is the minimum sum assured?
₹1,00,000.
Is GST charged on the premium?
No — individual life-insurance premiums are GST-exempt from 22 September 2025.
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Disclaimer: BimaJaano is an independent tool and is not affiliated with the Life Insurance Corporation of India. Premium figures are based on LIC’s published tabular rates and are for guidance; benefit descriptions are summaries of the plan’s official terms. Confirm exact figures and features with LIC before buying.