LIC Child Money Back Plan Calculator

LIC Child Money Back Plan Calculator helps you truly understand the plan's specifics by providing premium and profit information depending on the parameters you select. It is also helpful in comparing different insurance plans.

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You will quickly calculate the amount of premium that one must pay for a particular plan.

Why Should You Use a Child Insurance Premium Calculator?

A child insurance premium calculator is a free online tool that helps in calculating premiums for child plans. Also, it helps in making informed choices about buying the plan.One can calculate and review the child plan as well as their insurance policy purchase target. When buying other insurance policies, individuals may be expected to follow the set guidelines as for other policies. The plans offered are cost-effective; with low premium rates calculated using the LIC Child Money Back Plan Calculator.

Here are the reasons why you should use a Child Plan Premium Calculator:

  • The free child plan calculator is easy to use. The various values for premium for a child insurance package can be calculated conveniently and automatically.

  • One can use it to compare different insurance policies.

  • The premium calculator helps consumers learn more about the details they need and calculate how much they will receive from the policy.

  • It is often used to check if a specific term plan suits the budget and whether the selected lifetime coverage is sufficient.

The Process to use LIC Child Money Back Plan Calculator

Customers can use the Child Money Back Plan Calculator to find the premium and avail of a term cover in just a few steps. People who want to use the money-back premium calculator tool for child Insurance should access the official website of LIC.

The Process to use the calculator:

Step 1: Visit the official website of Life Insurance Corporation of India (LIC) and click on the online calculator.

Step 2:You can also directly enter the LIC child money back plan premium calculator on your search engine.

Step 3:You will see an online calculator on your screen with a few details.

Step 4:You can enter your plan details, the ones you are looking to know the premium of, in that calculator.

Step 5: The calculator will require you to enter the sum assured you are opting for.

Step 6:Below the sum assured you can enter the age of your child.

Step 7:After adding the child's age, you will need to put in the father's age.

Step 8:In between the age details, you will see an option regarding the premium waiver benefit.

Step 9:Premium waiver benefit is a rider you can add to the basic LIC Child Money Back plan.

Step 10:You can check the premium waiver benefit box if you wish to add it to your plan.

Step 11:Uncheck this box if you do not want premium waiver benefits.

Step 12:You can then click the calculate button available at the bottom of the calculator.

Step 13:A total of five tables will appear on your screen once you click the calculate button.

  • The first section of the table will contain the details regarding the plan you have opted for.

  • The second section will showcase the details of your first-year premium payments in inclusion with GST.

  • The third one will consist of the premium details for the second year onwards.

  • The fourth table will showcase the total approximate amount paid throughout the tenure.

  • The fifth and the last table will contain the money back and maturity details of your policy.

Advantages of using the LIC Child Money Back Plan Calculator

Using the calculator helps you understand the policy more effectively on the basis of which one can make the right decisions. Several benefits linked to using the calculator are shared below.

Insight of the Plan

Using the calculator gives you specific insight into the plan you are looking for. The calculator explains each and every detail regarding the premium payment and the benefits one can expect at the end of the tenure.

Foresight of Consequences

The calculator helps in predicting if you are in a position to buy the plan or not. Every year's premium is shared in the calculator, which helps one judge their financial capacity regarding the policy.

One can opt for a plan that is more suitable for them following the calculator.

Information required while using LIC Child Money Back Plan Calculator

You need the following details to use the Child Money Back Plan Calculator:

  • Personal Information – You must enter your child's details, including gender, date of birth and age, your annual salary, nationality, whether you are a member of the armed forces and other essential details in this tab.

  • Health Information – Details about smoking or drinking, your health issues, and any illnesses you have needs to appear in this section.

  • One must then indicate the time limit, the guaranteed Amount, the base premium, and the policy's name.

Benefits of buying LIC Child Money Back Plan

LIC insurance plans are very rational, and they are a secure way for insurers to safeguard their lives and the lives of their children. Here are all the advantages of purchasing LIC Child Insurance:

Assists in Achieving Life Objectives

The LIC Life Insurance policy offers maturity benefits, survival benefits, and death benefits to policyholders and his family. This claim may be the driving force for the insurer's financial goals.

Premium Waiver Benefit Rider

All potential premiums will be waived if this rider is selected and the proposer dies during the policy term. To be eligible for this rider, the proposer must be between the ages of 18 and 55.

Aids in the Development of Wealth

LIC insurance plans have a diverse set of benefits and projects to meet a variety of needs. Basic insurance programs, investment fund plans, money-return plans, participating and non-participating policies, and so on are only a few examples. The CHILD MONEY BACK PLAN CALCULATOR will accurately predict these plans to help the insurer achieve their life or wealth targets.

Risk Reduction

Humans are vulnerable to a wide range of negative consequences that can be detrimental to both the person and their families. A LIC Child insurance plan meets the requirements and guarantees that a family's life is on track at all times.

Premium Payment Options

LIC insurance plans have provided several options that depend on the plan's terms and conditions. One can pay premiums regularly through monthly, quarterly, half-yearly, and annual payments.

Tax Benefits

Suppose India's government or any other constitutional Tax Authority of India imposes statutory taxes on such insurance schemes. In that case, they will be based on the tax laws and rates in effect at the time. *Tax benefit is subject to changes in tax laws. Standard T&C Apply

LIC Child Insurance Premium Rates

The insurance premium rates for LIC Child Money Back Plan are as follows:

Premium Structure

LIC Money Back Plan Premium Rates are flexible and affordable. The premium rates differ with the policy tenure and the sum assured. One can pay the premium on a yearly basis, semi-yearly basis, quarterly basis, and on a monthly basis as well. One can go for the option that is most suitable for them.

A basic table containing premium rates is shared below to explain roughly the LIC money back plan premium rates. Premium details shared in the table are according to a 23-year policy tenure without premium waiver benefit starting from the age 2 of the insured.

Premiums shared are for the first year of the policy. The rates vary from the second year onwards.



GST (4.5%)

Total premium





Half yearly












*As per the IRDAI approved insurance plan, all savings are provided by the insurer. T&C apply.

For calculation of the estimated premiums of plans, one can easily use an online free tool called Child Money Back Plan Calculator. One can use a premium calculator wisely to compare insurance policies quickly, and the process is hassle-free.

The following factors influence premium rates in general:

  • The applicant's age – Young age applicants can get low premium rates due to their chances of longer life.

  • Gender – Both males and females can get premium benefits.  (*Standard T&C Apply)

  • Premium Payment Term – One can pay a premium on a monthly, quarterly, or semi-annually and yearly basis, according to their chosen plan.

About LIC Child Money Back Plans

LIC New Child Money Back Plan is a standard money-back plan primarily designed to provide survival benefits to growing children. Educational requirements, studying abroad, marriage, and other factors can differ from one child to another. The LIC New Children's Money Back Plan also includes liability coverage for the child's life during the policy period and a variety of survival benefits if the child lives until the end of the policy period. In simple terms, it is a combination insurance and investment package that will assist in securing the child's promising future.


  • Q1. Where can I check my LIC Child Term Plan status?

    A1. LIC has a solid online presence, and you can check the status of your policy on their official website. By logging in to their website and providing the required details, the policyholder may check their policy's status. It is simple to check the status of your insurance policy. One can access the specifics of their plan on the LIC's online portal. They can also speak with LIC’s certified policy advisors.

  • Q2. Under what circumstances does a claim not settle?

    A2. Suppose the individual or individuals protected commit suicide, directly or indirectly, within 12 months of the policy issue date or policy revival, resulting in the insured person's death. In that case, the policy becomes null and void. In this case, there will be no incentives to be paid. For future reference, the policy bond includes comprehensive explanations.

  • Q3. Does the LIC portal provide the facility to renew my LIC Child Money Back Plan?

    A3. One can buy and renew plans online, and the LIC child insurance plan's official website can assist you in finding the right term plan for your needs online.

  • Q4. What is the process to file a LIC Insurance Claim?

    A4. LIC Child Insurance policyholders must have both policy details and a claim form. This can be emailed to members or sent to them in person at the nearest branch. A death claim, a rider claim, or a hospitalization claim, for example, should be submitted along with other information such as the regulation number, the date and cause of the event, the name of the nominee, and so on.

  • Q5. Can I get any maturity benefit from child plans?

    A5. In the last three policy years before maturity, one can get Guaranteed Periodic Benefits that equal 25% of the assured sum amount. This gets paid even if the policyholder fails to survive the policy term.

  • Q6. Can I buy insurance at any age?

    A6. The age limit for LIC Child Insurance varies. One can purchase the policy from birth until the child reaches the age of twelve.(* Standard T&C Apply)

  • Q7. How can I find the required term insurance coverage?

    A7. The age of the individual, their debts, and their income must all be given. Individuals may use the tool to estimate coverage and policy plans. The cost of a LIC Child Plan's term insurance varies depending on the age of policy and financial commitments.

  • Q8. Can I increase my sum assured Amount?

    A8. The guaranteed sum amount can easily be increased as one's life conditions change. The sum assured can be adjusted depending on the financial situation.

  • Q9. Can Non-Resident Indian buy term plans?

    A9. Only Indian residents have access to flexible term plans. For more information on plans for NRIs or PIOs, one can visit the nearest insurer office. Their experienced and certified advisors will assist one in purchasing several other policies that benefit NRIs and PIOs.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

*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:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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