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.

Average Rating
(Based on 26 Reviews)
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LIC Child Money Back Plan Calculator Reviews & Ratings

4.6 / 5 (Based on 26 Reviews)
(Showing Newest 25 reviews)
Chalakudy, April 16, 2021
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.
Asifabad, April 14, 2021
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.
Lakhimpur Kheri, April 13, 2021
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.
Raghunathpur, April 09, 2021
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.
Agra, April 07, 2021
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.
Babina, March 23, 2021
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.
Anantnag, March 22, 2021
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.
Mawana, March 16, 2021
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.
Baleshwar, March 02, 2021
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.
Bablabona, February 22, 2021
Sufficient plan
I have recently bought a lic India term insurance plan and it has been a wonderful plan for me and my family. A sufficient plan for the safety and security of my family. It has given me few benefits too which makes the plan a wonderful.
Badayun, February 16, 2021
Affordable premiums
The term insurance plan which I bought of Lic India is first class and very amazing. I like the plan because it has various features and benefits which makes the plan worthy. Also, the premium rate of the plan is according to my budget and much affordable.
Malpur, November 05, 2020
Beneficial plan
My LIC India term insurance plan is really good and beneficial in nature. They have provided with certain features and my life has been protective to me and my family.
Latur, November 05, 2020
Low premium
I got my term insurance plan of LIC India. It is really easy to attain and my term plan is really good as it has several add on features included into the same. The premium rate of my plan is really affordable in nature.
Dehradun, November 05, 2020
Tax benefits
Somebody into my circle recommended me to get the LIC India term insurance policy. So, I gave it a try and started searching for some plans. Quite easy to check features and benefits of all LIC term plans.
Garhmukteshwar, October 21, 2020
Amazing plans
It is a really good and amazing plan and I took the LIC term insurance plan for the safety and security of my plan needs and wants.I took the plan online and have checked good number of plans of LIC term plan.
Faridabad, October 21, 2020
Best policy
My lic term insurance plan which I bought recently have given me so much of help and satisfaction. It is a good plan with sense of safety and security. Claims are easy to go and basically it is a best plan for your future needs.
Haldwani, October 21, 2020
Good plans
I have got the lic India term insurance. The maturity year is pretty good and I am much happy with my term plan.
Basanti, January 08, 2019
Very Good Plan
Recently I took the Term insurance of LIC and found it too useful. The maturity year is good which 75 years. I feel it is good as it can used by my family after me if by chance some problem may occur. We should always secure our life so it was a good experience and I am getting good benefits too. Thank you.
Buxar, July 20, 2016
Excellent Work
The premium is low but the paybacks are high. Service is fast and because of that the claiming is simple to sanctioned. The lic term plan is suggested by my father and after seeing the terms and conditions i buy it.
Ahmedabad, July 20, 2016
Super Policy
My lic term plan is providing the best services. Policy covers maximum expenditures and good returns. Claims are easy to sanctioned, updates of the plan is mailed to email address. Best investment which reduces taxes.
Uttamnagar, July 19, 2016
Perfect Policy
LIC online term plan is very easy to buy and renewals is also simple. The updates regarding policy can be visit on the website of the insurance company. Service is fast and behaviour of the staff is nice. The investment is less and the returns are high.
Jaipur, July 19, 2016
The lic term insurance plan is fantastic which i have seen comes from ages and providing good policies to the customers. Service is the best no doubt in that, online portal is also easy to access and anyone can operate it easily.
Hyderabad, July 19, 2016
Good Service
I have lic term insurance plan which is very beneficial for me and my family members from last few years. The policy coverage is high and the premium is less. Service is fantastic which is facilitate by the executives and members.
Ahmednagar, March 09, 2016
help me, plane choose
Noida, January 02, 2016
life insurance
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