LIC's New Children’s Money Back Plan is a participating non-linked money back plan. 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.

1. LIC’s NEW CHILDREN’S MONEY
BACK PLAN
Table No. 832
UIN: 512N296V01

2. New Children Money Back Plan (Table No.832)
Maturity Benefit
Sum Assured along with vested Simple Reversionary Bonuses and Final
Additional Bonus, if Any.
Death Benefit
 Before the date of commencement of risk: Return of premium/s
excluding taxes, extra premium and rider premium, if any.
 After the date of commencement of risk:
a) Basic Sum assured and vested Simple Reversionary Bonuses and
Final Additional Bonus, if any.
b) Where Sum Assured is higher of 10 times of annualized premium or
Absolute amount Assured to be paid on Death.
c) Benefit shall not be less than 105% of the total premiums paid as on
date of death.
LIC’s New Children Money Back Table No. 832 – Benefits

3. New Children Money Back Plan (Table No.832)
Survival Benefit
On completion of ages 18 years, 20 years and 22 years 20% of Basic Sum
Assured on each occasion shall be payable.
Optional Benefit
 Option to defer the Survival Benefit(s): The policyholder will have option to
take the survival benefit at any time on or after its due date but during the
currency of the policy. In case of deferment of a due survival benefit (s) opted
by the policyholder, the Corporation will pay increased survival benefit (s)
equal to
Survival Benefits % * Sum Assured * (Factor applicable to Survival Benefit (s))
This option shall be required to be intimated in writing by the policyholder six
months before the due date of the Survival Benefit to the servicing branch of
policy.
LIC’s New Children Money Back Table No. 832 – Benefits continue

4. Optional Benefit
 LIC’s Premium Waiver Benefit Rider:
a) LIC’s Premium Waiver Benefit Rider is available as an optional rider on the life of
proposer aged between ages 18 to 55 years by payment of additional premium.
b) In case of death of the proposer, the premiums under the basic plan falling due
after the date of death shall be waived. The cost of medical and special reports
shall be borne by the proposer.
c) This rider shall not operate in the event of death of the proposer by his own
hands whether sane or insane within 12 months from the date of issuance of First
Premium receipt or within 12 months from the date of revival.
LIC’s New Children Money Back Table No. 832 – Benefits continue

5. Particulars LIC’s New Children Money Back
Minimum Age at entry 0 year (last birthday)
Maximum Age at entry 12 years (last birthday)
Age at Maturity 25 Years (last birthday)
Policy Term/Premium Paying
Term
[25 - Age at entry] years (last birthday)
Premium mode
Yearly, Half-Yearly, Quarterly or Monthly
mode (through ECS only) or through SSS
mode only
Minimum Basic Sum Assured Rs.100000
Maximum Basic Sum Assured No Limit (In multiples of 10000)
LIC’s New Children Money Back Table No. 832 ~ Eligibility
Conditions and Restrictions

6. LIC’s New Children Money Back Table No. 832 ~ Eligibility
Conditions and Restrictions
Date of commencement of risk under the plan:
In case the age at entry of the Life Assured is less than 8 years, the risk
under this plan will commence either one day before the completion of 2
years from the date commencement of policy or one day before the policy
anniversary coinciding with or immediately following the completion
of 8 years of age, whichever is earlier. For those aged 8 years or more, risk
will commence immediately.
Date of vesting under the plan:
The policy shall automatically vest in the Life Assured on the policy
anniversary coinciding with or immediately following the completion of 18
years of age and shall on such vesting be deemed to be a contract between
the Corporation and the Life Assured.

7. Mode and High Sum Assured Rebates
Mode High Sum Assured Rebates
Yearly 2% of Tabular Premium
Half yearly 1% of Tabular Premium
Quaterly, Monthly and SSS Nil
LIC’s New Children Money Back Table No. 832 ~ Rebates
High Sum Assured Rebates
Basic Sum Assured Rebate (Rs.)
Rs. 1,00,000 to Rs. 1,90,000 Nil
Rs. 2,00,000 to Rs. 4,90,000 Rs. 2 per thousand BSA
Rs. 5,00,000 and above Rs. 3 per thousand BSA

8. LIC’s New Children Money Back Table No. 832 ~ Misc.
Revival:
If premiums are not paid within the grace period then the policy will
lapse. A lapsed policy can be
revived within a period of 2 consecutive years from the date of first
unpaid premium but before
the date of maturity.
Paid-up Value:
If at least three full years’ premiums have been paid and any subsequent
premiums be not duly
paid, this policy shall not be wholly void, but shall continue as a paid-up
policy.
 The Sum Assured on Death under paid–up: policy shall be reduced
to such a sum called “Death Paid-up Sum Assured” and shall be
equal to [(Number of premiums paid/Total Number of premiums
payable) x Sum Assured on Death]

9. LIC’s New Children Money Back Table No. 832 ~ Misc. cont..
Paid-up Value (count…):
 The Sum Assured on Maturity under paid-up policy: shall be
reduced to such a sum called “Maturity Paid-up Sum Assured” and
shall be equal to
[(Number of premiums paid/Total Number of premiums payable) x
(Sum Assured on Maturity plus Total Survival Benefits payable
under the policy)].
 In case of a paid up policy, no future survival benefits shall be
payable. However, if the option to defer the Survival Benefit(s) has
been exercised and payment of such Survival Benefit(s) have not yet
been made, these increased Survival Benefit(s) shall also be paid.
 Rider shall not acquire any paid-up value and the rider benefits cease
to apply, if policy is in lapsed condition.
 The policy can be surrendered provided at least three full years’
premiums have been paid.

10. LIC’s New Children Money Back Table No. 832 ~ Misc. cont..
Policy Loan:
Loan can be availed under the policy provided the policy has acquired a
surrender value and subject to the terms and conditions as the Cororation
may specify from time to time.
Tax:
Taxes, including Service Tax, shall be as per the Tax laws and the rate of
tax shall be as applicable from time to time.
The amount of tax as per the prevailing rates shall be payable by the
policyholder on premiums including extra premium, if any. The amount
of Tax paid shall not be considered for the calculation of benefits payable
under the plan.
Cooling Off Period:
If the Policyholder is not satisfied with the “Terms and Conditions” of
the policy, the policy may be returned to the Corporation within 15 days
from the date of receipt of the policy bond stating the reason of
objections.

11. LIC’s New Children Money Back Table No. 832 ~ Misc. cont..
Exclusion:
Suicide Clause: This policy shall be void
a) If the Life Assured (whether sane or insane) commits suicide at any
time within 12 months from the date of commencement of risk, the
Corporation will not entertain any claim under this policy.
b) If the Life Assured (whether sane or insane) commits suicide within
12 months from date of revival, an amount which is higher of 80% of
the premiums paid till the date of death (excluding any taxes and
extra premium, if any,) or the surrender value shall be payable. The
Corporation will not entertain any other claim under this policy. This
clause shall not be applicable:
1) in case the age of the Life Assured is below 8 years at the time of
revival; or
2) for a policy lapsed without acquiring paid-up value and nothing
shall be payable under such policies.

12. Contact Details
To buy this plan please contact me
Name: Satish Kumar (LIC Life Insurance Advisor)
Contact No.: 9899551897
Service Available: In Delhi NCR Only
To know your premium please visit http://bimacare.blogspot.in