LIC Children Money Back Plan

Akshit Girhotra
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Akshit Girhotra

Lic New Children's Money Back Plan

The future of any country highly depends on the strength of the children. But if they are not prepared for that vision and purpose, the dream will not be achievable. This is why there are certain premium policies available for children to secure their future. The LIC’s Children money back plan is specifically known for its benefits for growing children. Two unique features of this plan which attracts parents are security given till the age of 25 years and then offering maturity with a lump sum fund amount for fulfilling important ventures and tasks. 

LIC New Children's Money Back Plan
Lic New Children's Money Back Plan


The minimum age for applying for this scheme is right after the birth and the maximum age of entry is 12 yrs.

The maturity age of this scheme is 25 yrs. 

Sum AssuredRs 1,00,000No Limit
Entry ageAfter birth12 years
Payment modesAnnual, Half yearly, Quarterly, Monthly
Policy TermTill the age of the child is 25 years


  1. Each plan can be subjected for one child at one point of time
  2. This plan is a non-linked money back plan for growing ward
  3. There is a special feature that lets the holder find loans from this scheme
  4. This plan can be returned after purchase within 15days from the purchase date.
  5. There is an opportunity of reviving the policy within 2 yrs by clearing all the unpaid premiums together.
  6. There are majorly three main merits ground from this policy namely death benefit, Maturity benefit and survival benefit.
  7. The policy holder can actually opt an option called Premium waiver. This is when all premiums will be waived after the death of the subscriber or the person who pays the premium.


  • If the policy holder commits suicide within Twelve months from the date of commencement, the LIC will only pay 80% of the premium paid till date which will be excluded from services taxes and extra premiums. This will not be applicable if the entry age is below 8 years old.
  • If the policyholder commits suicide within twelve months of the revival plan, the the LIC will only pay an amount higher than survival value and 80% premium paid till date of death which will be excluded from any extra premium paid and service taxes.

The plan will not be entertained in case the holder age is below 8 years at the time of revival and also if the policy lapse even without getting the paid up value.

Also Read : LIC Jeevan Umang


Death benefit:

In case of untimely death of the policy holder, then the sum payable will be the total of the sum assured at death and all bonus will be included in the same. 

  • Maturity benefit:

In this case, the total sum assured after the maturity period will be paid including all the bonuses.

  • Survival benefits:

After receiving a certain age, thesis when the holder can receive an amount from the policy. That is 20% of the basic amount of sum assured. 

There are few other benefits as well:

  • Rebate and Discounts:

LIC will provide discounts and rebates on any high premium values. Money can be saved in this manner.

  • Corporation profits:

In this case, the holder can participate in the profit earning opportunities offered by the LIC and there they can also get bonuses out of the same. 

  • Surrender amount:

The surrender amount is assured from the date of purchase of the scheme. But this will only be applied if the premiums and all the payments are cleared without any delay for the three years. 


The policyholder needs to fill an application form. The complete medical history of the policy holder will be required. KYC documentation are required with the current address proof. 

There might be some instances when the policy holders are required to go through some medical process or examination but that will depend on the amount of sum assured and also the child age. 

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