LIC’s New Children Money Back Plan 832 13

LIC’s New Children Money Back – Plan Table No. 832 (Launched on 4th March 2015)

LIC’s New Children’s Money Back Plan is a non-linked, with-profit, regular premium payment money back plan specially designed to meet various financial needs of children through Survival Benefits. It provides for the risk cover on the life of child during the policy term and number of survival benefits on surviving to the end of the specified duration’s.

Basic Features of New Children’s Money Back Plan (Table No 832)

  • Minimum Age at Entry: 0 Years (Last Birthday)
  • Maximum Age at Entry: 12 Years (Last Birthday)
  • Proposer’s age :
    • Minimum – 18 years
    • Maximum – 55 years
  • Min Sum Assured : 1 Lac
  • Max Sum Assured : No limit
  • Sum Assured Rebate:
    • upto 1.90 L = Nil
    • 2 to 4.90 L = Rs 2/-
    • 5 L & above = Rs 3/-
  • Mode : All modes
  • Mode rebate :
    • YLY- 2%
    • HLY- 1%
  • Policy Term : 25 minus age i.e. 25 – Age
    • eg. Child’s age is 4 years then Policy term will be 25-4=21 Years
  • Premium Term : 18 minus age
    • eg. Child’s age is 4 years then Premium term will be 18-4=14 Years
  • PWB available (Premium Waiver Benefit Rider)
  • Maturity for below Child Age
    • At 18 = 20% of SA
    • At 20 = 20% of SA
    • At 22 = 20% of SA
    • At 25 = 40% of SA + Bonus+ Final Additional Bonus
  • Date of commencement of risk under the planIn case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from the date commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier. For those aged 8 years or more, risk will commence immediately.
  • Surrender ValueThe policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.
  • LoanLoan facility is available under this plan after the payment of premiums for atleast three full years and after obtaining the declaration from the proposer to the effect that loan is raised for the benefit of the minor life assured.
  • Suicide ClauseThis policy shall be void
    1. If the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk, the Corporation will not entertain any claim under this policy except for 80% of the premiums paid excluding any taxes and extra premium, if any, provided the policy is in force. This clause shall not be applicable in case age at entry of the Life Assured is below 8 years.
    2. If the Life Assured (whether sane or insane) commits suicide within 12 months from date of revival, an amount which is higher of 80% of the premiums paid till the date of death (excluding any taxes and extra premium, if any,) or the surrender value shall be payable. The Corporation will not entertain any other claim under this policy. This clause shall not be applicable:
      1. in case the age of the Life Assured is below 8 years at the time of revival; or
      2. for a policy lapsed without acquiring paid-up value and nothing shall be payable under such policies.
New Children Money Back Plan 832 - Hindi

New Children Money Back Plan 832 – Hindi

Maturity  for 832

Maturity for 832

Ready Reckoner for plan 832

Ready Reckoner for plan 832

13 thoughts on “LIC’s New Children Money Back Plan 832

  1. Reply wings Mar 5,2015 6:26 AM

    sendto my mail id ready reckoner of new child money back plan-2015

  2. Reply explain the details of parents insurance while giving option for pwb Mar 17,2015 11:12 AM

    explain the details of the parents insurance while claiming the PWB

  3. Reply Joydeep Choudhury Mar 20,2015 7:44 PM

    can a widow self employed aged 40 yrs maintaining ITRs for last 3 yrs be the proposer for daughter aged 4 yrs in table no 832? pls guide……….

  4. Reply sukanya majumdar Jun 12,2015 11:35 AM

    My baby is 1 yr. old .please let me know the details

  5. Reply YOGESH SINGH Aug 8,2016 5:04 PM

    कृपया बताया कि प्लान नं 832 मे अगर कोई अपनी बेटी केलिये उसके (बेटी) के नाम की प्रिमियम भर रहा हैं तो पिता के डेथ केस मे क्या प्रिमियम भरना होगा?

    • Reply Anup Jul 31,2017 6:50 PM

      832 प्लान में पिता की मृत्यु होनेपर बाकी का प्रीमियम बच्चे या और किसी को नहीं देना पड़ेगा, लेकिन इस सुविधा का लाभ उठाने के लिए आपको पालिसी निकालते वक्त ही कुछ options को चुनना होता है.

      अधिक जानकारी या LIC पालिसी सम्बंधित कोई भी सवाल आप मुझ कॉल करके भी पूछ सकते है – 9766363816

  6. Reply Alok Dec 8,2016 10:11 AM

    Policy plan 832 me parents/gardian ka death ho jata he to premium kaun bharega aur es case ne kya benifit milega

    • Reply Anup Jul 31,2017 6:51 PM

      Hi Alok,

      832 प्लान में पिता की मृत्यु होनेपर बाकी का प्रीमियम बच्चे या और किसी को नहीं देना पड़ेगा, लेकिन इस सुविधा का लाभ उठाने के लिए आपको पालिसी निकालते वक्त ही कुछ options को चुनना होता है.

      अधिक जानकारी या LIC पालिसी सम्बंधित कोई भी सवाल आप मुझ कॉल करके भी पूछ सकते है – 9766363816

  7. Reply Pramod kumar Mar 23,2017 5:18 PM

    My daughter is 8 years old … So pls suggested a best plan for the her marriage time..I mean 18 years …

  8. Reply Suresh chand Aug 10,2017 11:32 AM

    Sir/ Madam,
    My son Anshuman 6 years old i need to buy any money back policy which gives us high return on every 5 years.

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