LIC Child Fortune Plus (Plan 194, UIN 512L251V02) was a unit-linked child plan on the parent's life, sold from 1 November 2008 to 1 September 2010. The policy runs until the child turns 25. With ₹50,000 a year for a 5-year-old and a 35-year-old parent, the fund is estimated at ₹20.9 lakh after charges at 8% gross return, or ₹13.3 lakh at 4%.
Child Fortune Plus 194 Fund Value Calculator
Your estimate
at 8% gross return, after all charges
- Premium per instalment
- ₹50,000
- Policy term
- 20 years
- Child's age at maturity
- 25 years
- Sum assured on deathpaid on the parent's death; future premiums are then waived and the fund continues
- ₹2,50,000
- Total charges deducted
- ₹66,896
- Approx. return (IRR)
- 6.60%
- Total invested₹10,00,00048%
- Estimated returns₹10,92,55752%
Year-wise fund projection (illustrative)
| Year | Parent's age | Child's age | Premium paid | Charges | Fund value (year end) |
|---|---|---|---|---|---|
| 1 | 35 | 5 | ₹50,000 | ₹16,180 | ₹36,289 |
| 2 | 36 | 6 | ₹50,000 | ₹3,718 | ₹88,599 |
| 3 | 37 | 7 | ₹50,000 | ₹3,737 | ₹1,44,707 |
| 4 | 38 | 8 | ₹50,000 | ₹2,502 | ₹2,06,236 |
| 5 | 39 | 9 | ₹50,000 | ₹2,512 | ₹2,72,245 |
| 6 | 40 | 10 | ₹50,000 | ₹2,518 | ₹3,43,068 |
| 7 | 41 | 11 | ₹50,000 | ₹2,545 | ₹4,19,031 |
| 8 | 42 | 12 | ₹50,000 | ₹2,565 | ₹5,00,517 |
| 9 | 43 | 13 | ₹50,000 | ₹2,577 | ₹5,87,940 |
| 10 | 44 | 14 | ₹50,000 | ₹2,582 | ₹6,81,740 |
| 11 | 45 | 15 | ₹50,000 | ₹2,578 | ₹7,82,390 |
| 12 | 46 | 16 | ₹50,000 | ₹2,600 | ₹8,90,365 |
| 13 | 47 | 17 | ₹50,000 | ₹2,608 | ₹10,06,213 |
| 14 | 48 | 18 | ₹50,000 | ₹2,604 | ₹11,30,523 |
| 15 | 49 | 19 | ₹50,000 | ₹2,587 | ₹12,63,925 |
| 16 | 50 | 20 | ₹50,000 | ₹2,558 | ₹14,07,096 |
| 17 | 51 | 21 | ₹50,000 | ₹2,548 | ₹15,60,730 |
| 18 | 52 | 22 | ₹50,000 | ₹2,517 | ₹17,25,613 |
| 19 | 53 | 23 | ₹50,000 | ₹2,466 | ₹19,02,587 |
| 20 | 54 | 24 | ₹50,000 | ₹2,394 | ₹20,92,557 |
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 Fortune Plus Plan 194?
LIC Child Fortune Plus (Plan 194) is an older unit-linked insurance plan for parents. The parent is the life insured, and the premiums go into a choice of market-linked funds. The goal is a fund that is ready when the child turns 25, for higher studies, a business or a wedding.
The plan (UIN 512L251V02) was launched on 1 November 2008 and withdrawn on 1 September 2010. Policies bought in that window are still running, and the calculator above projects what the fund could look like at maturity after all charges.
Unlike LIC’s traditional child plans such as Child Career Plan 184, there is no bonus and no guaranteed maturity amount here. The payout is whatever the fund is worth.
Plan 194 at a glance
| Feature | Regular premium | Single premium |
|---|---|---|
| Parent’s entry age | 18 to 55 | 18 to 55 |
| Child’s entry age | 0 to 10 | 0 to 17 |
| Policy term | Until the child is 25 or the parent is 75 | Same |
| Minimum premium | ₹1,000 a month | ₹40,000 |
| Sum assured | 5 × annual premium | 1.25 × single premium |
| Funds | Bond, Secured, Balanced, Growth | Same |
| Status | Withdrawn from 1 Sep 2010 | Withdrawn |
How the calculator projects the fund
Each year, the calculator adds the premium, takes out the charges and grows the balance at your chosen return minus the fund management charge:
- Premium allocation charge: about 29% of the first-year regular premium, 5% in years 2 and 3, and 2.5% after that. Single premiums lose about 4.25%.
- Administration charge: ₹60 a month in year 1, then ₹20 a month rising 3% a year.
- Mortality charge: on the sum assured plus the premiums still to come, because LIC pays those if the parent dies.
- Fund management charge: 0.5% (Bond) to 0.8% (Growth) a year.
Worked example: a 35-year-old parent pays ₹50,000 a year for a 5-year-old child in the Balanced Fund. The policy runs 20 years and ₹10 lakh is invested in total. At an 8% gross return, the fund is estimated at ₹20,92,557, an IRR of about 6.6% after ₹66,896 of charges. At 4%, it would be about ₹13,27,713. A single premium of ₹1 lakh for the same child grows to about ₹3,68,900 at 8%.
Tip: no GST is charged on individual life insurance premiums from 22 September 2025. The service tax on charges shown in older policy statements belongs to the earlier tax regime.
Life cover and premium waiver
If the parent dies during the term, the nominee receives the sum assured straight away. Future premiums are waived, and the policy continues so the child still gets the fund value at maturity. This built-in waiver is the main thing that separates a child ULIP from an ordinary investment.
Flexibility: switches, withdrawals and surrender
- Four free fund switches every year; ₹100 per switch after that.
- Partial withdrawals after three years.
- Surrender after three years, with no surrender charge.
- No policy loan.
Is it worth continuing?
Most of the heavy first-year charges are already behind existing policyholders, so the remaining years are relatively cheap. Moving from Growth to Bond or Secured a few years before the child’s 25th birthday protects the fund from a late market fall. To compare against other market-linked options, try the LIC ULIP plan calculator or the LIC child plan calculator.
How to use this calculator
- Enter both ages and choose regular or single premium.
- Enter the premium and select a fund.
- Try 4% and 8% returns to see a cautious and a normal case.
- Check the fund table year by year. Actual values depend on NAVs, so treat all results as estimates.
Frequently asked questions
What is LIC Child Fortune Plus Plan 194?
It is a unit-linked insurance plan (ULIP) that insures a parent and invests the premiums in market-linked funds for a child's future. If the parent dies, LIC pays the sum assured and keeps the policy running for the child without further premiums.
Can I still buy Child Fortune Plus 194?
No. LIC withdrew Plan 194 on 1 September 2010, just before ULIP rules were tightened. Existing policies continue until the child turns 25. Parents looking for a market-linked plan today can compare LIC SIIP 752 or current child plans.
When does Child Fortune Plus 194 mature?
The policy matures when the child reaches 25 or when the parent reaches 75, whichever comes first. For a child aged 5 at entry and a parent aged 35, that means a 20-year policy.
What charges apply in Plan 194?
The main charges are a premium allocation charge (about 27.5–29% in year 1, 5% in years 2–3 and 2.5% after for regular premium; about 4% for single premium), a policy administration charge, mortality charges and a fund management charge of 0.5–0.8% a year.
What happens if the parent dies during the policy term?
The nominee receives the sum assured, which is 5 times the annual premium for regular premium or 1.25 times the single premium. Future premiums are waived and the policy continues, with the fund value paid at maturity.
Can I switch funds or withdraw money early?
Yes. Four fund switches a year are free and later switches cost ₹100 each. Partial withdrawals are allowed after three years, and the policy can be surrendered after three years without a surrender charge.
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.