LIC New Children's Money Back Plan 732 Calculator

What is the LIC New Children's Money Back Policy 732 Calculator?

The LIC New Children Money Back Policy Premium & Maturity Calculator is an online tool offered by LIC of India, through which a parent or a guardian can get an estimate of the premium they would be required to pay as well as the maturity amount they will receive under the LIC New Children Money Back 732 plan. The calculator provides an approximate premium and payout timeline once you input the sum assured, policy duration, and age of the child.

This LIC calculator is a credible source of information on survival benefits, maturity value, and bonus additions and premium amounts. It complements parents who either have a plan or are considering getting one to secure their childs future requirements.

How Does the LIC New Children's Money Back Calculator 732 Work?

The LIC New Children’s Money Back Calculator is available online and helps estimate the policy's premium, survival benefits, and maturity value. It gives parents a snapshot of how much financial support they can expect during and after the policy. The calculator uses the following information to work:

• Age of Child: The age of the child at the time of purchase of the policy.

• Sum Assured: The amount of benefit or cover that the policy will provide.

• Policy Term: The length of time for which the benefits will be available.

• Premium Waiver Rider: This is an optional cover to waive off the premiums in case of death of the parent (proposer) during the policy term.

• Age of Proposer: The age of the parent or grandparent who is taking the policy.

Sample Premium Illustration (Age 2 years, Sum Assured: ₹2 Lakh)

Note: Premiums are subject to change as per LIC and IRDAI guidelines. Standard T&C apply

How to Use the LIC Child Money Back Plan Calculator – Step-by-Step Guide

One can easily calculate the premium and maturity value of their LIC New Children’s Money Back Plan 732 using the LIC New Children's Money Back Plan calculator (previously known as LIC New Children’s Money Back 932 Calculator). Just follow the steps below:

Step 1: Visit the Life Insurance Corporation of India

Step 2: Go to ‘How much You Need’ section and click on “Calculate Premium”.

Step 3: Provide basic details such as name, DOB, gender, contact, etc and click on “Next”

Step 4: Choose the LIC New Children’s Money Back Plan 732. Click on “Coverage”

Step 5: Provide details such as sum assured, policy term, premium paying term, etc. then click on ‘Quote’.

The calculator will compute premium amounts in all the premium paying modes and show you the maturity amount, death benefit, bonus amounts, survival benefits, guaranteed surrender value, etc. 

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

The LIC's New Children's Money Back (Plan 732) Calculator is a tool that helps parents or guardians who are considering a child's future investment. Here are some of the advantages of the calculator:

• Informed Decisions: LIC New Children's Money Back calculator gives you a fair estimate of the surrender value, bonus, Loan, paid up and projected maturity value based on the information provided. Before purchasing the plan it makes it easier for the user to decide if the policy really matches their needs and offers what they are looking for.

• Financial Planning: This calculator gives a clear picture of the survival benefits and maturity payouts, thereby allowing parents to plan for major events such as education, marriage, and so on.

• Personalization: The LIC New Children’s Money Back Plan Calculator provides results specifically tailored to your policy details. It only uses the information that you provide while using the calculator. If you choose a specific policy term and a premium paying term or an additional rider, it will show you the results of premium and payouts as per that only. 

• Policy Comparison: Parents are given a chance to evaluate the LIC New Children's Money Back Plan against other child plans so they can pick the best one. The maturity calculator helps to generate illustration of complete plan benefits as per child's age, sum assured or monthly premium, father's age and premium.

• Quick Estimates: An LIC Calculator is a time saver as it instantly shows the premium and expected return thus, there is no need for manual calculations.

Wrapping It Up

The LIC Child Money Back Plan Calculator is a great tool for parents to equip themselves with good knowledge and also to have confidence in the decisions they make. Planning a child's college education, wedding expenses or other aspirations of the child's future, this calculator makes it very easy to work out the premiums and also shows you the advantages of each stage. It is the initial step towards providing a financially secure life for your child.

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