LIC Children Money Back Plan

LIC Children Money Back Plan

LIC Children Money Back Pla

LIC Children Money Back Plan-832

BUY ONLINE LIC'S CHILDRE MONEY BACK PLAN

BUY ONLINE LIC’S THIS PLAN

LIC Children Money Back policy (LIC table no 832) is a traditional plan. LIC Children Money Back Policy key feature is profit and offers regular premium payment money back policy. LIC New Children Money Back policy is specially designed to meet various financial needs of children through money back. LIC Children Money Back Policy is a regular premium policy,LIC Child Money Back policy provides risk cover on the life of child during the policy term and provides number of survival benefits on surviving to the end of the specified duration.



 Benefits and Features of LIC Children Money Back Policy

  1. Death Benefit:
Death during Death benefit
If the policy holder expire before one year from the date of commencement of Risk. An amount equal to the total amount of premium paid – (Taxes+Extra premium+Rider premium).shall be payable
If the policy holder expire After the date of commencement of Risk. Sum Assured+Vested Revisionary Bonus+FAB.

This death benefit shall not be less than 105% of the total

premiums paid as on date of death.

  1. Maturity Benefit:

Sum Assured on Maturity: 40% of the Basic Sum Assured + vested Simple Revisionary Bonuses and FAB (If any), shall be payable.

      3.  Survival Benefit:

After Completion of Age:

At 18 Years = 20% of Sum Assured.

At 20 Years = 20% of Sum Assured.

At 22 Years = 20% of Sum Assured.

At 25 Years = 40% of Sum Assured + Bonus+ Final Additional Bonus.

LIC Children Money Back Policy Eligibility Conditions

Eligibility criteria Details
Entry Age Minimum: 0 Years (LBD).

Maximum: 12 Years (LBD).

Sum Assured Minimum: Rs 1,00,000/-.

Maximum: No Limit.

Policy Term 25 years – (Age at Entry).
Maturity Age Minimum: 25 Years.

Maximum: 25 Years.

For Example: Child Age: 1 Year, Maturity age : 25 years -1 years = 24 years.

If Child age: 3 years, Maturity age: 25 – 3 = 22 Years.

Premium Payment Mode Yearly, Half Yearly, Quarterly, and Monthly.

(ECS through only salary Deduction SSS).

Date of commencement of risk under the plan:        

In case of children whose age is less than 8 years risk commencement  starts  either from 2 years of taking the policy or 8 years old which is earlier.

Date of vesting under the plan:

The policy shall automatically vest in the Life Assured completion of 18 years of age.

Lic Children Money Back Policy plan-832 Rebates

There are two types of Rebates available

Mode Rebate.

High Sum Assured Rebate.

Mode Rebate:

Premium Mode % on Tabular Premium
Yearly Mode 2% of tabular premium.
Half Yearly Mode 1% of Tabular premium.
Quarterly NIL
Monthly NIL

High Sum Assured Rebate:

Basic Sum Assured Rebate Rebate(Rs)
1,00,000 to 1,90,000 NIL
2,00,000 to 4,90,000 2 Per thousand Basic sum Assured.
5,00,000 and above 3 Per thousand Basic sum Assured.

Benefit Example for LIC child plan 832

An example of suresh whose child is 1 year old is purchasing this Plan with following details.

Sum Assured: Rs.5,00,000
Policy Term: 24 Years
Policy Purchase Year: 2016
Age: 1 Year
Single Premium: Rs. 22609/-

Premium Calculator-LIC Children Money Back Plan 832

Please Select Only Plan No-832

Maturity Details

If policy holder suresh’s child survives the policy term 24 years then his child’s Maturity will be as under.

Maturity Year Maturity Age Maturity Amount(approx)
2040 25 9,51,000/-(excluding money back plan)

Year-wise Death Claims

Year Age Risk Cover Normal Risk Cover Accidental Premium Tax Saved Net Premium Amount Received
2016 1 21113 21113 22609 6545 16064 0
2017 2 42227 42227 22213 6545 15668 0
2018 3 572000 572000 22213 6545 15668 0
2019 4 596000 596000 22213 6545 15668 0
2020 5 620000 620000 22213 6545 15668 0
2021 6 644000 644000 22213 6545 15668 0
2022 7 668000 668000 22213 6545 15668 0
2023 8 692000 692000 22213 6545 15668 0
2024 9 716000 716000 22213 6545 15668 0
2025 10 740000 740000 22213 6545 15668 0
2026 11 764000 764000 22213 6545 15668 0
2027 12 788000 788000 22213 6545 15668 0
2028 13 812000 812000 22213 6545 15668 0
2029 14 836000 836000 22213 6545 15668 0
2030 15 870000 870000 22213 6545 15668 0
2031 16 896500 896500 22213 6545 15668 0
2032 17 923000 923000 22213 6545 15668 0
2033 18 949500 949500 22213 6545 15668 100000
2034 19 981000 981000 22213 6545 15668 0
2035 20 1015000 1015000 22213 6545 15668 100000
2036 21 1054000 1054000 22213 6545 15668 0
2037 22 1103000 1103000 22213 6545 15668 100000
2038 23 1177000 1177000 22213 6545 15668 0
2039 24 1251000 1251000 22213 6545 15668 0
2040 25 0 0 0 0 0 951000

Additional Information

Risk Coverage: Till end of Term of the Policy.

Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement  starts  either from 2 years of taking the policy or 8 years old which is earlier.

Locking period : LIC New Children Money Back policy provides free locking period of 3 years.

Loan Facility: Loan facilities are available under this Single Premium Endowment Plan.

Income Tax Reduction: Available under Section 80-C for premiums paid and Section 10 (10D) for Maturity.

Loan:Available under this LIC New Children Money Back policy.

Riders available: Yes.

Proposal Forms: Proposal Form no. 300,340 and 360 will be used under this plan.

Cooling-off Period: If a policyholder is not satisfied with the ‘Terms and Conditions” of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Back-dating interest: The policies can be dated back within the same financial year.

Assignments/Nominations: Assignment and nominations is possible under this plan.

BUY ONLINE LIC'S CHILDRE MONEY BACK PLAN

BUY ONLINE LIC’S THIS PLAN

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Services

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

CON.9891009400

Email-basupancholi@gmail.com

Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.

CHILDREN PLANS

LIC New Children’s Money Back Plan

LIC Jeevan Tarun Plan


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