LIC Child Career Plan 184 was a with-profit money-back policy on a child's life, sold from 8 February 2007 until 1 January 2014. It pays 30% of the sum assured plus vested bonus five years before maturity, 15% a year for the next four years and 15% at maturity (age 23 to 27). For a 4-year-old with ₹5 lakh cover maturing at 25, the estimated premium is ₹30,200 a year for 16 years.
Child Career Plan 184 Premium & Payout Calculator
Your estimate
survival benefits + maturity, incl. estimated bonus; final additional bonus extra
- Premium per instalment
- ₹30,200
- Policy term
- 21 years
- Premium paying term
- 16 years
- Total premium paid
- ₹4,83,200
- Survival benefits (money back)from age 20 to 24, first payment includes vested bonus
- ₹7,54,000
- Total bonus (estimated)
- ₹3,04,000
- Estimated maturity amount15% of sum assured + final additional bonus, if declared
- ₹75,000
- Sum assured on deathplus vested bonus if death is before the last 5 years
- ₹5,00,000
- Extended cover (7 years after maturity)
- ₹5,00,000
- Total premium paid₹4,83,20058%
- Net gain₹3,45,80042%
Year-wise premiums and payouts
| Policy year | Child's age | Premium paid | Payout |
|---|---|---|---|
| 1 | 5 | ₹30,200 | ₹0 |
| 2 | 6 | ₹30,200 | ₹0 |
| 3 | 7 | ₹30,200 | ₹0 |
| 4 | 8 | ₹30,200 | ₹0 |
| 5 | 9 | ₹30,200 | ₹0 |
| 6 | 10 | ₹30,200 | ₹0 |
| 7 | 11 | ₹30,200 | ₹0 |
| 8 | 12 | ₹30,200 | ₹0 |
| 9 | 13 | ₹30,200 | ₹0 |
| 10 | 14 | ₹30,200 | ₹0 |
| 11 | 15 | ₹30,200 | ₹0 |
| 12 | 16 | ₹30,200 | ₹0 |
| 13 | 17 | ₹30,200 | ₹0 |
| 14 | 18 | ₹30,200 | ₹0 |
| 15 | 19 | ₹30,200 | ₹0 |
| 16 | 20 | ₹30,200 | ₹4,54,000 |
| 17 | 21 | ₹0 | ₹75,000 |
| 18 | 22 | ₹0 | ₹75,000 |
| 19 | 23 | ₹0 | ₹75,000 |
| 20 | 24 | ₹0 | ₹75,000 |
| 21 | 25 | ₹0 | ₹75,000 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Child Career Plan 184?
LIC Child Career Plan (Table 184) is an old money-back policy that insures the child and pays out money in the years when college and career costs usually arrive. It is a with-profit plan, so it earns yearly simple reversionary bonuses from LIC’s surplus.
LIC launched it on 8 February 2007 and withdrew it on 1 January 2014, when many older products were closed under revised IRDA product rules. If your family holds a 184 policy, it keeps running to maturity. The calculator above helps you check the premium, the payout years and the likely total.
Its twin, Child Future Plan 185, was sold alongside it with the same entry ages and terms but a different payout pattern: smaller early instalments and a larger lump sum at maturity.
Child Career Plan 184 at a glance
| Feature | Details |
|---|---|
| Plan number | 184 |
| Plan type | With-profit child money-back plan |
| Life insured | The child |
| Entry age | 0 to 12 years |
| Maturity age | 23 to 27 years |
| Policy term | 11 to 27 years |
| Premium paying term | 6 years, or policy term minus 5 years |
| Sum assured | ₹1 lakh to ₹1 crore |
| Extended cover | 7 years after maturity, no premium |
| Status | Withdrawn from 1 January 2014 |
How the premium is calculated
LIC charged a fixed amount per ₹1,000 of sum assured, based on the child’s entry age, the chosen maturity age and the premium term. The calculator uses the rate chart from the original plan and fills in ages between the published points. Half-yearly, quarterly and monthly instalments are 51%, 26% and 8.7% of the yearly premium.
Worked example: a 4-year-old with ₹5 lakh sum assured and maturity at 25 has a 21-year policy. With premiums for 16 years (term minus 5), the yearly premium is about ₹30,200, or ₹4,83,200 in total. If the parent chose the 6-year option instead, the premium rises to about ₹59,675 a year, but the total outgo falls to ₹3,58,050.
Tip: premiums here carry no GST. Individual life insurance premiums are GST-exempt from 22 September 2025. Old receipts show 4.5% in the first year and 2.25% later, which applied before that date.
Survival benefits and maturity
This is where Plan 184 differs from a plain endowment. The money comes back in six instalments:
| When | Payout |
|---|---|
| 5 years before maturity | 30% of sum assured + vested bonus |
| 4, 3, 2 and 1 year before maturity | 15% of sum assured each year |
| On maturity | 15% of sum assured + final additional bonus |
That adds up to 105% of the sum assured, plus bonus. For the example above, using a ₹38 bonus per ₹1,000, the first payment at age 20 is about ₹4,54,000 (₹1.5 lakh plus ₹3.04 lakh bonus), followed by ₹75,000 at each age from 21 to 25. The total estimate is ₹8,29,000 against ₹4,83,200 paid. Change the bonus field to see a cautious or optimistic case; LIC’s final bonus is not included.
Death benefit
- Death before the last five years: sum assured plus vested bonus.
- Death in the last five years: sum assured plus any final additional bonus.
- Death during the seven-year extended cover: sum assured.
Survival benefits already paid are not deducted from the death claim.
Loans, surrender and paid-up value
Surrender value is available after three full years of premiums, and a policy loan can be taken against it. If premiums stop after three years, the policy becomes paid-up with a reduced sum assured. Use the LIC surrender value calculator for a rough exit estimate.
Who holds this plan today, and what to consider
Most 184 policies are now in or near the payout phase. If yours is, plan the instalments against actual fee dates and avoid surrendering in the final years, when most of the value sits in bonus. New buyers should look at current products; our LIC child plan calculator compares options side by side.
How to use this calculator
- Enter the child’s entry age and pick the maturity age.
- Choose the premium paying term and the mode.
- Enter the sum assured and, if you wish, a different bonus rate.
- Read the yearly premium, the payout table and the total estimated benefit. All figures are estimates, so check your policy bond for exact amounts.
Frequently asked questions
Can I still buy LIC Child Career Plan 184?
No. LIC stopped selling Plan 184 on 1 January 2014. Existing policies continue with all their benefits. Parents looking for a new child policy today can compare LIC's current child plans such as Jeevan Tarun 734 or Amritbaal 774.
When are the survival benefits paid in Child Career Plan 184?
The first payment of 30% of the sum assured, together with the bonus vested till then, comes five years before maturity. After that, 15% is paid every year for four years, and the final 15% is paid on the maturity date along with any final additional bonus.
What is the premium paying term of Plan 184?
You could choose either a short 6-year premium term or a term equal to the policy term minus five years. With a 21-year policy, the second choice means 16 years of premiums, which keeps each yearly premium roughly half of the 6-year option.
What happens if the child dies during the policy term?
The nominee receives the sum assured plus vested bonus if death happens before the last five policy years. Within the last five years, the sum assured and any final additional bonus are paid. If death happens before risk cover starts, premiums are refunded as per policy terms.
What is the extended cover in Child Career Plan 184?
After the policy term ends, the child stays covered for seven more years without paying any premium. If death occurs during this extended period, the sum assured is paid to the nominee.
Is the maturity of Child Career Plan 184 tax-free?
Usually yes, under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). Policies issued before 1 April 2012 qualify if the yearly premium stayed within 20% of the sum assured; later ones need it within 10%. The 6-year premium option can cross 10% at older entry ages, so check your policy with a tax adviser.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.