LIC New Children Money Back Plan (Plan No. 732) is a traditional participating child insurance plan specially designed to support a child’s education, development, and future milestones. This plan helps parents manage rising education expenses by providing periodic money-back benefits during the policy term, along with a lump-sum maturity benefit and life insurance protection.
Every parent wants to ensure that their child’s dreams are never compromised due to financial constraints. Whether it is school fees, college education, professional courses, or career development, expenses keep increasing year after year. LIC New Children Money Back – 732 offers a structured, safe, and disciplined savings approach that provides money exactly when parents need it the most.
✔ Regular Financial Support: Survival benefits help parents meet education and development expenses at critical stages.
✔ Strong Child Protection: Even if the parent is not around, the child’s financial goals remain protected.
✔ Bonus Advantage: LIC bonuses increase the overall value of maturity benefits.
✔ Risk-Free Savings: Ideal for parents who prefer guaranteed benefits without market risk.
✔ Goal-Based Planning: Perfect for school fees, college education, professional courses, and skill development.
The policy is taken by a parent or guardian for the benefit of the child. Premiums are paid regularly during the premium-paying term. During the policy term, survival benefits are paid at predefined ages of the child to support educational and developmental expenses.
If the policyholder survives till maturity, the remaining Sum Assured along with accumulated bonuses is paid as the maturity benefit. If the policyholder passes away during the policy term, the policy continues for the child and benefits are paid as scheduled, ensuring uninterrupted financial support.
Let us understand LIC New Children Money Back – 732 with a practical example.
Total Premium Paid:
₹34,000 × 20 years = ₹6,80,000 (approx)
Survival Benefits:
At child age 18: ₹2,00,000
At child age 20: ₹2,00,000
At child age 22: ₹2,00,000
Total Survival Benefits: ₹6,00,000
Maturity Benefit:
Remaining Sum Assured + Bonuses
Total Maturity Amount: ₹9,00,000 – ₹11,00,000 (approx)
Total Benefits Received:
Survival Benefits: ₹6,00,000
Maturity Amount: ₹9,00,000 – ₹11,00,000
Total Value: ₹15,00,000 – ₹17,00,000
Parent Death Scenario:
If the parent dies during the policy term,
future premiums may be waived and the policy continues.
The child still receives all survival benefits and maturity amount.
Premiums and benefits are indicative and depend on age, Sum Assured, and LIC bonus declarations.
✔ Parents planning for school and college education
✔ Families looking for periodic education-expense support
✔ Parents preferring guaranteed returns with liquidity
✔ Those who want child security even in parent’s absence
LIC New Children Money Back – 732 is a well-balanced child insurance plan that combines regular financial support, long-term savings, bonus benefits, and strong life protection. It ensures that a child’s education and development are never disrupted due to financial uncertainty.
For parents who want a dependable, risk-free, and disciplined approach to planning their child’s future, LIC New Children Money Back – 732 stands out as a trusted and time-tested solution backed by LIC’s legacy.