{"id":67,"date":"2025-11-20T08:30:23","date_gmt":"2025-11-20T08:30:23","guid":{"rendered":"https:\/\/licagent.pro\/?p=67"},"modified":"2025-11-20T08:30:23","modified_gmt":"2025-11-20T08:30:23","slug":"lic-new-childrens-money-back-plan","status":"publish","type":"post","link":"https:\/\/licagent.pro\/?p=67","title":{"rendered":"LIC New Children\u2019s Money Back Plan"},"content":{"rendered":"\n

LIC plan specifically designed to address the various requirements of growing children.<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

LIC Children\u2019s Money Back Plan<\/strong> is a non-linked, participating, and limited premium payment policy designed to secure the financial future of children. This plan offers a combination of savings and insurance benefits, including periodic payments at specific intervals during the policy term, lump-sum maturity benefits, and life coverage. It also provides the option to add riders for enhanced coverage. The plan aims to help parents meet their child\u2019s education, marriage, and other financial needs.<\/p>\n\n\n\n

As parents, we all aspire to create ample opportunities for our children to succeed in life, knowing that they are the future of our world. To this end, the LIC New Children\u2019s Money Back Plan is a distinctive policy that addresses various requirements of growing children, such as education, marriage, and more. This non-linked, participating money-back scheme not only provides life coverage for children but also offers survival benefits.<\/p>\n\n\n\n

Eligibility Criteria :<\/h2>\n\n\n\n

The following fundamental requirements should be taken into account by individuals who are interested in buying this policy.<\/p>\n\n\n\n

Minimum entry age of the child<\/td>0 years (at birth)<\/td><\/tr>
Maximum entry age of the child<\/td>12 years<\/td><\/tr>
Age at policy maturity<\/td>25 years<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Key Features:<\/h2>\n\n\n\n

Listed below are some of the key features of this scheme.<\/p>\n\n\n\n

Plan type<\/strong><\/td>Participating non-linked children\u2019s money back scheme<\/td><\/tr>
Plan basis<\/strong><\/td>Individual<\/td><\/tr>
Policy term<\/strong><\/td>25 years minus age of the child Example, if age of child at the time of taking policy is 5 years, then policy term is (25-7) = 18 years<\/td><\/tr>
Maturity benefits<\/strong><\/td>A benefit payable at maturity, which is equal to the sum assured and accrued bonuses, will be provided.<\/td><\/tr>
Premium payment frequency<\/strong><\/td>Monthly, quarterly, half-yearly or annually<\/td><\/tr>
Loan<\/strong><\/td>Policyholders can avail a loan through the policy<\/td><\/tr>
Grace period<\/strong><\/td>15 days for monthly mode 30 days for other payment modes like yearly , half yearly and quarterly<\/td><\/tr>
Free look\/cooling off period<\/strong><\/td>Individuals can choose to cancel and return the policy within 15 days<\/td><\/tr>
Revival<\/strong><\/td>Revival of lapsed policies is possible within two years from the first unpaid premium by paying the entire outstanding amount.<\/td><\/tr>
Sum assured<\/strong><\/td>Minimum \u2013 Rs 1 lakh Maximum \u2013 No upper limit<\/td><\/tr>
Policy coverage<\/strong><\/td>Death benefit, maturity benefit and survival benefit. Premium waiver benefit<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

LIC Childrens Money back plan with an Example<\/h2>\n\n\n\n

Sanjay Kumar, who is 35 years old, intends to purchase this plan for his 6 month old daughter and proceeds with the following steps:<\/p>\n\n\n\n

Sum assured : Rs 500000
Policy Term : 25 Years
Premium Paying Term : 25 Years<\/p>\n\n\n\n

If Mr. Sanjay chooses the payment mode as YLY, then he has to pay Rs. 22009 for the first year and Rs. 21535 from the second year onwards.
Totally you will pay Rs.538849 in 25 years<\/p>\n\n\n\n

Mr Sanjay\u2019s daughter will receive the returns as follows:
At her Age:18 \u2013 Rs.100000
At her Age:20 \u2013 Rs.100000
At her Age:22 \u2013 Rs.100000
At her Age:25 \u2013 Rs.987500<\/p>\n\n\n\n

In case of Natural Death at Age-5, Nominee will receive Rs.635000
( it is important to note that this is merely an estimation and the actual bonus declared may vary, either higher or lower than this amount.)<\/p>\n\n\n\n

Frequently Asked Questions<\/h2>\n\n\n\n

What are the Maturity Benefits offered?<\/strong><\/p>\n\n\n\n

The policy provides a maturity benefit that equals the sum assured and all the accrued bonuses during the policy term.<\/p>\n\n\n\n

Can I surrender the policy before the maturity date?<\/strong><\/p>\n\n\n\n

Yes, you can surrender the policy before the maturity date. However, the surrender value will be paid only after the completion of three policy years.<\/p>\n\n\n\n

What is the surrender value for LIC Children Money Back Plan?<\/strong><\/p>\n\n\n\n

The surrender value for LIC Children Money Back Plan is calculated based on the number of premiums paid and the policy term.<\/p>\n\n\n\n

What happens if I miss paying a premium for LIC Children Money Back Plan?<\/strong><\/p>\n\n\n\n

If you miss paying a premium for LIC Children Money Back Plan, a grace period of 30 days is provided to pay the premium. If you fail to pay the premium even within the grace period, the policy will lapse.<\/p>\n\n\n\n

Can I take a loan against LIC Children Money Back Plan?<\/strong><\/p>\n\n\n\n

Yes, you can take a loan against LIC Children Money Back Plan after the policy acquires a surrender value.<\/p>\n\n\n\n

What is the policy term for LIC Children Money Back Plan?<\/strong><\/p>\n\n\n\n

25 years minus age of the child<\/p>\n","protected":false},"excerpt":{"rendered":"

LIC plan specifically designed to address the various requirements of growing children. LIC Children\u2019s Money Back Plan is a non-linked, participating, […]<\/p>\n","protected":false},"author":1,"featured_media":68,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[7],"tags":[],"class_list":["post-67","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-child-plans"],"_links":{"self":[{"href":"https:\/\/licagent.pro\/index.php?rest_route=\/wp\/v2\/posts\/67","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/licagent.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/licagent.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/licagent.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/licagent.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67"}],"version-history":[{"count":1,"href":"https:\/\/licagent.pro\/index.php?rest_route=\/wp\/v2\/posts\/67\/revisions"}],"predecessor-version":[{"id":69,"href":"https:\/\/licagent.pro\/index.php?rest_route=\/wp\/v2\/posts\/67\/revisions\/69"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/licagent.pro\/index.php?rest_route=\/wp\/v2\/media\/68"}],"wp:attachment":[{"href":"https:\/\/licagent.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/licagent.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/licagent.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}