LIC New Children's Money Back Plan 832: Complete 2026 Guide

LIC's New Children's Money Back Plan 832 is a participating money-back plan that does something elegant: it pays money exactly when your child needs it most — at ages 18, 20, 22, and 24.

## How the Payout Timeline Works

The policy pays 20% of Sum Assured at each of these ages: - **Age 18:** 20% of SA — timed for college admission fees - **Age 20:** 20% of SA — timed for second/third year college expenses - **Age 22:** 20% of SA — timed for postgraduate admission - **Age 24:** 20% of SA — timed for professional/wedding preparation

At maturity (age 25): Remaining 20% of SA + accumulated Simple Reversionary Bonus + Final Additional Bonus.

This staggered payout structure is what makes this plan superior to a lump-sum child plan for most families.

## Sample Calculation

Parents enroll their 3-year-old child with Rs 5 lakh sum assured (22-year policy term): - Approximate annual premium: Rs 22,000-25,000 per year for 22 years - Payouts at 18, 20, 22, 24: Rs 1 lakh each = Rs 4 lakh total - Maturity at 25: Rs 1 lakh + bonus (approximately Rs 5-7 lakh total including bonus) - Grand total received: Rs 9-11 lakh over the child's young adult years

## The Proposer Protects the Plan

The **parent is the proposer** (policyholder) and the child is the life assured. If the proposer (parent) passes away before maturity, the future premiums are waived and the policy continues — all payouts happen on schedule. This is critical protection.

## Key Details

- **Child's Entry Age:** 0 to 12 years - **Maturity Age:** 25 years (fixed) - **Sum Assured:** Rs 1 lakh minimum - **Premium:** Regular pay for the policy term

## Plan 832 vs Jeevan Tarun — Which is Better?

Both plans are excellent. The difference: Jeevan Tarun gives you flexibility to choose how much survival benefit to take each year (5%, 10%, 15%, or 20%). Plan 832 is fixed at 20% per payout. If you want flexibility, Jeevan Tarun wins. If you want simplicity, Plan 832 is easier to understand.

Start your child's financial journey today with our [maturity calculator](/calculators/maturity) or call Ajay Kumar Poddar at 9415313434.