lic child money back plan calculator -plan 932

LIC New Children’s Money Back Plan Calculator: Plan Your Child’s Future with Ease

           Every parent dreams of giving their child a secure and prosperous future—whether it’s funding their higher education, supporting their first big step into adulthood, or ensuring they’re financially protected no matter what life throws at them.

The LIC New Children’s Money Back Plan (Plan 932) is a trusted option that blends insurance with savings, offering periodic payouts at key milestones. But how do you know if it’s right for your family? Enter the LIC Child Money Back Plan Calculator—a powerful tool that simplifies the process. In this blog, we’ll dive into what this plan offers, how the calculator works, and why it’s a game-changer for planning your child’s financial journey.

Understanding the LIC New Children’s Money Back Plan (Plan 932)

The LIC New Children’s Money Back Plan is a participating, non-linked insurance policy tailored for children aged 0 to 12 years. It’s designed to provide financial support at critical stages of your child’s life while offering peace of mind through life cover. Here’s what sets it apart:

• Money-Back Benefits: Get 20% of the sum assured when your child turns 18, 20% at 20, and 20% at 22—ideal for education or startup costs.
• Maturity Payout: At age 25, receive the remaining 40% of the sum assured plus accrued bonuses, giving your child a strong financial boost.
• Death Benefit: If the policyholder (parent) passes away during the term, the nominee gets the full sum assured (minimum ₹1,00,000) plus bonuses, ensuring your child’s future stays secure.
• Premium Waiver: In case of the parent’s untimely death, future premiums are waived, and the plan continues for the child.
• Loan Facility: Need funds mid-term? You can take a loan against the policy once it gains surrender value.
• Tax Benefits: Enjoy tax deductions under Section 80C for premiums paid and Section 10(10D) for maturity proceeds (as per prevailing tax laws).

With a policy term of 25 years minus the child’s entry age, this plan is a long-term commitment to your child’s dreams.

Why Use the LIC Child Money Back Plan Calculator?

Figuring out premiums, benefits, and returns manually can be overwhelming. That’s where the LIC New Children’s Money Back Plan Calculator shines. This online tool takes the guesswork out of planning by providing instant, customized insights. Here’s what it does:

• Estimates Premiums: Input your child’s age, sum assured, and payment mode to see how much you’ll pay.
• Shows Payout Schedule: Get a clear timeline of when and how much money your child will receive (at ages 18, 20, 22, and 25).
• Calculates Returns: See the total premiums paid versus the guaranteed benefits and estimated maturity amount, including bonuses.
• Visualizes Cash Flow: A built-in chart compares premiums paid against benefits received over the years.

Whether you’re a first-time buyer or comparing insurance options, this calculator helps you make a confident, informed choice.

How to Use the LIC New Children’s Money Back Plan Calculator

Ready to explore the plan for your child? Here’s a simple step-by-step guide to using the LIC Child Money Back Plan Calculator:

1. Select Your Child’s Age: Choose your child’s current age (0-12 years) from the dropdown. For example, if they’re 5, the policy term will be 20 years (25 – 5). , Find out how old your Child’sfor LIC policies.
2. Pick a Sum Assured: Slide or enter an amount between ₹1,00,000 and ₹50,00,000—say, ₹5,00,000 for a solid foundation.
3. Choose Payment Frequency: Decide if you’ll pay yearly, half-yearly, quarterly, or monthly based on your budget.
4. Set the Bonus Rate (Optional): Adjust the assumed bonus rate (e.g., 50 per ₹1000 sum assured) to estimate potential returns. Leave it default if unsure.
5. Review Results Instantly: The calculator displays your premium (e.g., ₹25,000 yearly), payout amounts (e.g., ₹1,00,000 at age 18), and maturity benefit (e.g., ₹2,00,000 + bonuses at 25).
6. Analyze the Chart: Check the visual graph to see how premiums flow out and benefits flow in over time.

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It’s fast, user-friendly, and gives you a clear picture without needing to call an agent!

Benefits of Using the LIC New Children’s Money Back Plan Calculator

Why should you rely on this tool? Here’s what makes it a must-have:

• Time-Saving: Get detailed projections in seconds—no paperwork or complex math required.
• Customizable: Adjust inputs like sum assured or payment frequency to match your financial goals.
• Transparency: Understand exactly what you’re paying and what your child will receive, down to the rupee.
• Decision-Making Power: Compare scenarios (e.g., ₹2,00,000 vs. ₹10,00,000 sum assured) to find the perfect fit.
• Visual Clarity: The cash flow chart makes it easy to see the plan’s value over time.

This calculator isn’t just a tool—it’s your partner in planning a secure future for your child.

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Who Should Consider This Plan?

The LIC New Children’s Money Back Plan is ideal for:

• Parents of young children (0-12 years) looking for a mix of savings and insurance.
• Families wanting guaranteed payouts at key ages (18, 20, 22, and 25).
• Those seeking tax benefits alongside financial security.
• Anyone who values flexibility with premium payments and loan options.

If you’re unsure about committing, the LIC Child Money Back Plan Calculator lets you test the waters risk-free.

Final Words

The LIC New Children’s Money Back Plan (Plan 932) is more than just an insurance policy—it’s a stepping stone to your child’s dreams, backed by the reliability of LIC. With the LIC Child Money Back Plan Calculator, you can explore this plan’s potential without the hassle. From calculating premiums to visualizing payouts, it’s your go-to resource for smart financial planning.

Take charge today—use the LIC New Children’s Money Back Plan Calculator to see how this plan can work for your child. A few clicks could set the foundation for their bright, worry-free future!