LIC's New Children's Money Back Plan 932 Details & Benefits | Dabri
For parents and grandparents residing in Dabri (PIN Code: 335503) and the surrounding Bhadra tehsil in Hanumangarh, Rajasthan, securing a child's future is the ultimate priority. When searching for reliable "Life Insurance" or the "Best LIC Agent" to guide your financial decisions, having access to accurate, localized, and expert information is vital.
Critical Timeline Notice: The Life Insurance Corporation of India officially launched this plan on February 1, 2020, and it was officially discontinued for new sales on January 1, 2025. If you successfully purchased this policy for your child during this window, you hold one of the most reliable educational funding tools in the market.
This comprehensive pillar page is designed to help existing policyholders understand their LIC's New Children's Money Back Plan (Plan 932) details, maximize their money-back survival benefits, and find a highly trusted "LIC Near Me" for ongoing premium and claim servicing.
1. What is LIC's New Children's Money Back Plan (Plan 932)?
Understanding the exact nature of your child's policy is the foundation of smart financial planning. LIC's New Children's Money Back Plan is a Non-linked, Participating, Individual, Life Assurance money back plan.
This means your child's financial future is not linked to the volatile stock market; instead, it participates in the declared profits of the Corporation. This plan is specially designed to meet the educational, marriage and other needs of growing children through Survival Benefits. In addition, it provides for the risk cover on the life of child during the policy term and for number of survival benefits on surviving to the end of the specified durations.
The plan could be purchased by any of the parent or grand parent for a child aged 0 to 12 years.
2. Eligibility Conditions and Core Premium Rules
The structural parameters of this policy were designed to mature precisely when a child steps into adulthood.
| Minimum Age at Entry | 0 years |
|---|---|
| Maximum Age at Entry | 12 years (last birthday) |
| Maturity Age | Exactly 25 years |
| Policy & Premium Paying Term | 25 minus Age at entry (e.g., 5-year-old child matches a 20-year term) |
| Minimum Basic Sum Assured | ₹ 1,00,000 |
| Maximum Basic Sum Assured | No Limit (in multiples of ₹ 10,000/-) |
3. The Wealth Mechanism: LIC Plan 932 Benefits Explained
The true power of this policy lies in its perfectly timed payouts. It acts as an automated funding mechanism for critical life stages such as higher education and career building.
A. Survival Benefits (The Money-Back Payouts)
As your child reaches crucial milestones in their educational journey, this policy delivers guaranteed liquidity. On the Life Assured surviving on each of the policy anniversary coinciding with or immediately following the completion of ages 18 years, 20 years and 22 years, 20% of the Basic Sum Assured on each occasion shall be payable, provided the policy is in-force.
This guarantees that whether your child is entering college at 18, pursuing advanced certifications at 20, or starting a post-graduation degree at 22, the funds are automatically available.
B. Maturity Benefit (The Final Anchor)
When your child reaches 25 years of age, the policy officially matures, providing a massive financial anchor for their marriage or business endeavors. On Life Assured surviving the policy term, provided the policy is in-force, "Sum Assured on Maturity" along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
Under this plan, the Sum Assured on Maturity is equal to 40% of the Basic Sum Assured.
C. Death Benefit (Absolute Family Security)
While no parent wants to think about tragedy, life insurance ensures absolute financial defense. On death of the Life Assured during the policy term provided the policy is in-force, the payout is handled in two ways:
- On death before commencement of risk: An amount equal to the total amount of premiums paid (excluding taxes and rider premiums) shall be payable.
- On death after commencement of risk: Death Benefit defined as sum of "Sum Assured on Death" along with vested Simple Reversionary Bonuses and Final Additional Bonus shall be payable.
The "Sum Assured on Death" is defined as Higher of Basic Sum Assured or 7 times of annualized premium. Furthermore, this death benefit shall not be less than 105% of the total premiums paid upto date of death.
Important Note on Risk Commencement: In case the age at entry of the Life Assured is less than 8 years, the risk will commence either one day before the completion of 2 years from commencement of policy or one day before the policy anniversary coinciding with the completion of 8 years of age, whichever is earlier. For those aged 8 years or more, risk commences immediately.
4. Advanced Policy Options for Ultimate Control
To cater to the evolving needs of families in Hanumangarh, this plan offers advanced financial controls.
LIC's Premium Waiver Benefit Rider
This is arguably the most critical rider for any child's policy. Under an in-force policy, this rider can be opted for on the life of Proposer of the policy, at any time coinciding with the policy anniversary but within the premium paying term.
If this rider is opted for, on death of Proposer, payment of premiums in respect of base policy falling due on or after the date of death till the expiry of rider term shall be waived. This guarantees that even if the earning parent passes away, the child's educational funds remain 100% secure without any further premium burden on the family.
Deferment of Survival Benefits & Settlement Options
- Deferment: If your family does not immediately need the money-back payout at ages 18, 20, or 22, you can defer it. The Corporation will pay increased Survival Benefits with interest at a later date.
- Settlement Options: Receive Maturity Benefit in instalments over 5, 10, or 15 years instead of a lumpsum to prevent misuse of large sums.
5. Grace Periods, Policy Loans, and Revivals
Managing your active policy in Dabri requires strict adherence to LIC's rules to avoid severe financial loss.
- Grace Period: A grace period of 30 days shall be allowed for payment of yearly, half-yearly, or quarterly premiums (15 days for monthly). If not paid, the policy lapses.
- Revival: A lapsed policy can be revived within a period of 5 consecutive years from the date of first unpaid premium by paying all arrears with interest.
- Policy Loans: Loan can be availed provided atleast two full years' premiums have been paid. Maximum loan is up to 90% of Active Surrender Value (80% for paid-up).
🔥 Your Trusted "LIC Near Me" Partner in Dabri and Bhadra
Even a minor delay in premium payment or a failure to update your nominee details can put your child's educational funds at risk.
If you are a resident of Dabri (PIN Code: 335503) or the surrounding Bhadra and Hanumangarh regions, you do not need to struggle with distant call centers. Ashuram Insurance Expert stands as your premier, authorized local partner.
Why Families Trust Us:
- Unbroken Legacy Since 1990: Decades of flawless service guiding children from their first policy day to final maturity.
- Authorized Premium Point: Pay your premiums securely and receive immediate, official receipts.
- Expert Claim & Loan Processing: We ensure survival benefits hit your bank account exactly when needed for college admission.
Call For Priority Action: 9414536577
WhatsApp Your Query: +91 9799-771-577
Visit Our Main Office: Main Bus Stand Road, Near Ambedkar Chowk, Bhadra - 335501
(We proudly serve the entire 25 KM radius including Dabri)
Frequently Asked Questions (FAQs)
1. Is LIC's New Children's Money Back Plan 932 still available?
No. The Life Insurance Corporation of India launched this specific policy on February 1, 2020, and officially discontinued it for new sales on January 1, 2025. However, all existing policies remain fully active and their benefits are fully guaranteed.
2. When will my child receive the Survival Benefits under this plan?
On the Life Assured surviving on each of the policy anniversary coinciding with or immediately following the completion of ages 18 years, 20 years and 22 years, 20% of the Basic Sum Assured on each occasion shall be payable, provided the policy is in-force.
3. What exactly does the child receive at the maturity age of 25?
On Life Assured surviving the policy term, provided the policy is in-force, "Sum Assured on Maturity" along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. The Sum Assured on Maturity is strictly equal to 40% of the Basic Sum Assured.
4. What happens if the parent paying the premium unexpectedly passes away?
If the LIC's Premium Waiver Benefit Rider was opted for, on death of Proposer, payment of premiums in respect of base policy falling due on or after the date of death till the expiry of rider term shall be waived. The policy continues normally, protecting the child.
5. How much loan can I get for my child's urgent needs?
Loan can be availed under the policy provided, atleast two full years' premiums have been paid. For an in-force policy, you can receive a loan of up to 90% of the active Surrender Value.
6. Where can residents of Dabri safely pay their LIC premiums?
Families residing in Dabri (PIN: 335503) can securely pay their premiums and update their policy documents at Ashuram Insurance Expert, the authorized local Premium Point located near Ambedkar Chowk in Bhadra.