LIC Child Plan Calculator is an online tool designed to help parents estimate their child's future financial needs. You can quickly calculate the ideal LIC child plan coverage to meet your child's future financial security and education needs by providing the age, desired policy term, and coverage amount. Read more about LIC child plan calculator in detail:
Read more
LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
We are rated++
10.5 Crore
Registered Consumer
51
Insurance Partners
5.3 Crore
Policies Sold
Now Available on Policybazaar
Grow wealth through 100% Guaranteed Returns with LIC
LIC Child Plan Calculator- An Overview
LIC Child Plan Calculator is a digital tool available on the official website of LIC of India. This tool helps you estimate the premiums and benefits of various child insurance policies offered by LIC, ensuring you choose a plan that aligns with your financial goals and your child’s future financial requirements.
You can use the LIC Child Future Plan Maturity Calculator to estimate the premium and maturity amounts of any LIC Child Plan. Follow the steps given below to access the LIC calculator from the LIC website. You can also visit the Policybazaar Child Insurance Plan page to calculate the premium of your chosen LIC plans:
Step 2: Fill out the form by entering your name and mobile number. Click on ‘View Plans’
Step 3: Enter your current city, age, and annual income.
Step 4: A List of plans will be displayed. Choose the plan that suits your needs.
Step 5: Check the premium.
Calculate from the LIC website
Step 1: Visit the official LIC of India website.
Step 2: Scroll down to the section “How Much Do You Need” and click on “Calculate Premium.”
Step 3: Provide the basic details of your child, such as name, DOB, gender, etc. Click on “Next” then “Quick Quote”.
Step 4: The calculator will show the available plans under “Child Plans”. Check the box next to the policy you select and click on “Coverage”.
Step 5: Provide the required information and click on “Quote”.
The calculator will detail the premium amount, payment modes, and other policy details, such as sum assured, premium payment term, and policy term, helping you make an informed choice.
Benefits of Using the LIC Child Plan Calculator
Here is a list of benefits of LIC Child Money Back plan calculator:
Simplifies Planning: The calculator simplifies planning for your child’s future by providing instant estimates. You don’t need to read complex policy documents or manually compute figures.
Quick and Efficient: Instead of waiting for an insurance agent or financial advisor to provide calculations, you get immediate results online. This efficiency saves time and allows you to make informed decisions faster.
Provide Flexibility: You can customize the plan based on your child’s age, financial goals, and coverage amount. This flexibility ensures you can tailor the plan precisely to your needs.
Informed Decision-Making: By understanding the premium and benefits in advance, you can better manage your finances and make informed decisions about your child’s future.
How Does the LIC Child Plan Premium Calculator Work?
Let us understand this with an example. Amit wants to buy an LIC Child Plan for his daughter. He uses an LIC girl child calculator to check the premium amount and benefits. Here is how the LIC Premium Calculator will work in this case:
Enter Basic Details: Amit enters the child’s name, age and gender.
Choose the Desired Coverage: He selects the LIC's New Children's Money Back Plan (Child Plan) and specifies the coverage amount that he foresees as suitable for his daughter in the future.
Calculate and Review: Once all the details are entered, the calculator processes the information and estimates the premium amount. It also shows the benefits, such as maturity benefits and any additional payouts.
Plan Comparison: The LIC child plan premium calculator also allows comparison of different LIC child plans, their premium and sum assured amounts, helping Amit choose the best suited plan.
After using the LIC Children Money Back plan calculator, Amit can now make an informed choice about the best LIC child plan for his daughter.
Premium Structure for Child Plans
The premium calculator displays the payable premium based on the inputs matching LIC child plans. The results are shown in the frequencies applicable in the LIC Child Plan Calculator Plan - yearly, half-yearly, quarterly, and monthly.
Let us consider a sample illustration for the LIC Child Future Plan Calculator Policy, which pertains to the LIC New Children’s Money Back Policy with a proposed Rs. 2 Lakh Sum Assured. The annual premium arrived by the premium calculator for the child’s different entry ages are:
Q1. How does the Premium Waiver Benefit Rider impact the premium calculator’s maturity prediction?
A1. With the Premium Waiver Benefit Rider, the child’s future is not affected by the proposer’s unfortunate demise. All the future premiums are waived to enable the child to continue the studies unhindered, and the money-back schedule and maturity features are not impacted.
Q2. How can the LIC Child Plan Calculator Plan premium be reduced, and how does the premium calculator assess the impact?
A2. One of the primary ways to reduce the child plan’s premium is by buying the policy when the child is born. The entry age is thus defined from birth to 12 years, while the maturity is fixed at 25 years. The policy term is calculated by deducting the entry age from the maturity age; thereby, it is 25 - 0 for a child plan bought at birth, denoting the longest policy term possible. It ensures a low premium, handsome money-back, and maturity benefit, as displayed by the premium calculator.
Q3. What happens if the LIC Child Plan Calculator Plan premium is unpaid even during the grace period?
A3. For any default in premium payment, even within the permissible grace period, the policy is considered to have lapsed, and the risk cover ceases.
Q4. Does the LIC Child Plan Calculator Policy enjoy Income tax exemption?
A4. The premium paid during a financial year is entitled to tax exemption up to a maximum of Rs.1.5 Lakh under Section 80 C of the Income Tax Act, 1961.
Q5. Which is the best LIC policy for children?
A5. Some of the best LIC policies for children are the LIC Jeevan Tarun Plan, LIC Amritbal Plan, and LIC New Children's Money Back Policy. These policies specifically cater to the children's future educational and financial needs.
Q6. What is LIC child money back plan calculator?
A6. The LIC Child Money Back Plan Calculator is an online tool that helps estimate the maturity amount, survival benefits, and premium payable under the LIC New Children's Money Back Plan. It provides a quick overview of returns based on the child's age, policy term, and sum assured.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
The surrender value of an LIC policy is the amount given to the policyholder if they cancel their policy before
Read more
LIC India Insurance Reviews & Ratings
4.6 / 5 (Based on 27 Reviews)
(Showing Newest 10 reviews)
Meer
Chalakudy, January 01, 1970
★★★★★
Easy claim settled
I bought the Lic India term plan from the suggestion of my family friend and he recommended me a lot of plans. He said that the claim settlement ratio is quick and easy. Also, it is protective plan.
Jyotsana
Asifabad, January 01, 1970
★★★★★
Additional riders
Along with my Lic India term insurance plan I have got the additional riders too. It has been an important thing for me and can be useful at any point in time. It can be added with a minimal amount.
Nimesh
Lakhimpur Kheri, January 01, 1970
★★★★★
Tax rebate
I bought a Lic India term insurance policy online and it has been into my budget. Also, I like one thing that I would able to get the tax benefits under it. It is a good option and can be beneficial for all tax payers.
Amit
Raghunathpur, January 01, 1970
★★★★★
Happy customers
I am one of the happiest customer of Lic India term plan and I have found various good deals. It is the plan which has come under my budget. And it has been a protective shield for me and my family.
Azam
, January 01, 1970
★★★★★
Good Benefits
It is important for everyone to understand that benefit is must when you are buying a child insurance plan. I bought a beneficial child plan of LIC India.
Seema
Agra, January 01, 1970
★★★★★
Good plan
I like my Lic India term plan from the online market and I found the solace in this plan. It is a good thing to support yourself by getting the best term plan so secure the life.
Ashraf
Babina, January 01, 1970
★★★★★
Additional riders and benefits
It is a good idea for everyone to buy a LIC term plan as I have got the additional riders too under the same. The plan is very nice and much helpful.
Naman
Anantnag, January 01, 1970
★★★★★
Tax benefits
With this LIC term insurance plan I received a tax rebate and tax benefits. I found it much better as compared to other plans and it’s a kind of coverage and investment for me. I am totally happy with this plan and found it worthy.
Chetan
Mawana, January 01, 1970
★★★★★
Secure your family
I have secured my family by buying a LIC term insurance plan. It is a long term plan with a lot of benefits under the same. At-least I will be satisfied that my family will safe and financially secured after I am not around. It’s a great plan under my budget.
Bibek
Baleshwar, January 01, 1970
★★★★★
Premium payment is easy
It’s really easy to pay for the premium amount of my lic India term plan. Also, I pay it online because it is transparent in nature. I bought this plan like about 4 years back and continuing it for its safety purposes.