LIC New Children’s Money Back Plan 932, Benefits, Features, Parameters full details with Example
Table of Contents
LIC of India new plan launched on 1st. February 2020 which name is LIC New Children’s Money Back Plan 932 (Table no 932) is a traditional plan. LIC New Children’s Money Back Plan 932 is a regular premium payment money back policy. LIC ‘New Children Money Back policy 932′ is specially designed for various financial needs of children through money back at age 18, 20, and 22 of child.
LIC New Children’s Money Back Plan 932 is a regular premium policy, LIC Children Money Back Policy 932 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.
Also Read this : Invest 10K per month & Get Rs 1 Cr returns
- A plan to fulfill requirement child Higher education and Marriage
- Get a Money Back from 18, 20, 22 and 25 age of child
- Premium waiver option available in this policy for child safety
- Paid premiums are exempted from income tax under sec 80C
- Maturity amount is tax free under 10(10D)
Eligibility/Parameters of LIC New Children’s Money Back Plan 932
|Age of Entry||0 days to 12 years|
|Premium Paying Mode||Yearly, Half Yearly,|
Quarterly, Monthly (ECS Only)
|Policy Term||25 – Age at Entry|
|Premium Paying Term||25 – Age at Entry|
|Sum Assured||1,00,000 and above (in multiples of 10000)|
Benefits and Features of LIC New Children’s Money Back Plan 932
|Death before commencement of Risk.||Death Benefit|
|If the policy holder expire before 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 Reversionary Bonus + FAB.
This death benefit shall not be less than 105% of the total premiums paid as on date of death.
Sum Assured on Maturity: 40% of the Basic Sum Assured + vested Simple Reversionary Bonuses and FAB (If any), shall be payable.
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.
Read this : LIC’s Best Lifetime Money Back plan
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 New Children’s Money Back Plan 932 Rebates
There are two types of Rebates available
|Premium Mode||% on Tabular Premium|
|Yearly Mode||2% of tabular premium.|
|Half Yearly Mode||1% of Tabular premium.|
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|
Read This – LIC new Jeevan Anand plan 915 lifetime plan
Example for LIC New Children’s Money Back Plan 932
An example of Akash whose child is 1 year old is purchasing this Plan with following details.
|Father (Proposer) Age||30 Years|
|Child Age||1 Years|
|Sum Assured||Rs. 5,00,000|
|Policy Term||24 (25-1) Years|
|Premium||Rs. 22,799 1st Year Rs. 22,308 2nd Year onward|
|Premium Paying Term||24 (25-1) Years|
If policy holder Akash’s child survives the policy term 24 years then his child’s Maturity will be as under.
LIC New Children’s Money Back Plan (932) – Survival and Maturity Benefits.
|Age of child||Survival|
|18 th Year||20 % of Sum Assured|
|20th Year||20 % of Sum Assured|
|22nd Year||20 % of Sum Assured|
|25th Year||=||40 % of Sum Assured + Bonus + FAB|
Year-wise Death Claims
Read this – LIC Single Premium Endowment 917
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 932 provides free locking period of 2 years.
Loan Facility: Loan after 2 years
Income Tax Deduction: Available under Section 80C for premiums paid and Section 10 (10D) for Maturity.
Riders available: PWB rider is available
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.
Backdating interest: The policies can be dated back within the same financial year.Assignments/Nominations: Assignment and nominations is possible under this plan.
Also Read this : Invest 10K per month & Get Rs 1 Cr returns
LIC Others New plans
- LIC धन वृद्धि प्लान 869LIC धन वृद्धि प्लान 869 की विशेषताएं, फायदे, उदाहरण, हिंदी में LIC of India ने 23 जून 2023 से एक नई योजना जिसका नाम “LIC धन वृद्धि प्लान 869” है की शुरुआत कर दी है, यह एक एकल प्रीमियम योजना है, LIC धन वृद्धि प्लान 869 … Read more
- LIC जीवन किरण 870LIC जीवन किरण 870, विवरण, पात्रता, विशेषताएं हिंदी में LIC जीवन किरण 870 – LIC OF INDIA द्वारा एक नई टर्म योजना है। LIC जीवन किरण योजना 870 एक नॉन-लिंक्ड, नॉन-पार्टिसिपेटिंग, टर्म इंश्योरेंस प्रीमियम भुगतान वापसी योजना है। LIC OF INDIA ने इस योजना को … Read more
- LIC Dhan Vriddhi Plan 869LIC Dhan Vriddhi Plan 869 Details, Example, Features and Benefits with Example LIC of India new plan launched 23, june 2023 which name is LIC Dhan Vriddhi Plan (Table No 869) is a Guaranteed returns an endowment insurance policy with savings where the single premium … Read more
- LIC Jeevan Kiran Plan 870LIC Jeevan Kiran Plan 870: Eligibility, Features, Benefits, Maturity full details. LIC Jeevan Kiran Plan 870 – is a new term insurance plan by LIC OF INDIA. LIC Jeevan Kiran Plan 870 is a non-linked, non-participating, saving life insurance term insurance plan with return of … Read more
FOR MORE INFORMATION PLEASE CONTACT
बास्पा नंद पंचोली
संपर्क सूत्र-: 9891009400
कार्यालय का पता:-
25, केजी, मार्ग, जीवन प्रकाश भवन
भारत का एलआईसी, शाखा इकाई 117 तीसरा तल
सी.पी. नई दिल्ली -110001
I hope this information about “LIC New Children’s Money Back Plan 932” would be liked, if yes then do share it with all your friends on social media so that with the help of you, other people can also read the information of this plan, and He can take advantage of this, any such information is left and if you want to know, then your suggestions and proposals are acceptable and also make a comment in the comment box below! Thank you…….