LIC Child Future Plan 185 is a withdrawn with-profit money-back policy on a child's life (UIN 512N242V01), closed to new buyers on 1 January 2014. Our calculator models 25% of the sum assured five years before maturity, 10% a year for four years and 50% plus bonus at maturity. A 4-year-old with ₹5 lakh cover maturing at 25 pays an estimated ₹30,825 a year for 16 years.
Child Future Plan 185 Premium & Maturity Calculator
Your estimate
survival benefits + maturity, incl. estimated bonus; final additional bonus extra
- Premium per instalment
- ₹30,825
- Policy term
- 21 years
- Premium paying term
- 16 years
- Total premium paid
- ₹4,93,200
- Survival benefits (money back)25% at age 20, then 10% a year up to age 24
- ₹3,25,000
- Total bonus (estimated)
- ₹3,99,000
- Estimated maturity amount50% of sum assured + bonuses
- ₹6,49,000
- Sum assured on deathplus bonuses accrued
- ₹5,00,000
- Extended cover (7 years after maturity)
- ₹5,00,000
- Total premium paid₹4,93,20051%
- Net gain₹4,80,80049%
Year-wise premiums and payouts
| Policy year | Child's age | Premium paid | Payout |
|---|---|---|---|
| 1 | 5 | ₹30,825 | ₹0 |
| 2 | 6 | ₹30,825 | ₹0 |
| 3 | 7 | ₹30,825 | ₹0 |
| 4 | 8 | ₹30,825 | ₹0 |
| 5 | 9 | ₹30,825 | ₹0 |
| 6 | 10 | ₹30,825 | ₹0 |
| 7 | 11 | ₹30,825 | ₹0 |
| 8 | 12 | ₹30,825 | ₹0 |
| 9 | 13 | ₹30,825 | ₹0 |
| 10 | 14 | ₹30,825 | ₹0 |
| 11 | 15 | ₹30,825 | ₹0 |
| 12 | 16 | ₹30,825 | ₹0 |
| 13 | 17 | ₹30,825 | ₹0 |
| 14 | 18 | ₹30,825 | ₹0 |
| 15 | 19 | ₹30,825 | ₹0 |
| 16 | 20 | ₹30,825 | ₹1,25,000 |
| 17 | 21 | ₹0 | ₹50,000 |
| 18 | 22 | ₹0 | ₹50,000 |
| 19 | 23 | ₹0 | ₹50,000 |
| 20 | 24 | ₹0 | ₹50,000 |
| 21 | 25 | ₹0 | ₹6,49,000 |
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 Future Plan 185?
LIC Child Future Plan (Table 185) is a with-profit money-back policy that insures a child and returns money in the early years of adulthood, when college fees, professional courses or a wedding usually need funds. It earns bonuses from LIC’s surplus, so the maturity amount grows year by year.
The plan (UIN 512N242V01) was sold alongside Child Career Plan 184 and was withdrawn on 1 January 2014. Existing policies remain fully valid. The calculator above estimates premiums and payouts for anyone still holding one.
Child Future Plan 185 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 185 / 512N242V01 |
| Plan type | With-profit child money-back plan |
| Life insured | The child |
| Entry age | 0 to 12 years (last birthday) |
| 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 |
| Status | Withdrawn from 1 January 2014 |
How the premium is worked out
The premium is a rate per ₹1,000 sum assured that depends on the child’s age at entry, the maturity age and the premium term. Our calculator uses the original rate chart and interpolates for ages in between.
Example 1: a 4-year-old, ₹5 lakh sum assured, maturity at 25 (21-year policy), premiums for 16 years. The yearly premium comes to about ₹30,825, or ₹4,93,200 over the premium term.
Example 2: a 2-year-old, ₹1 lakh sum assured, maturity at 27, premiums for only 6 years: about ₹10,380 a year, just ₹62,280 in total.
Tip: no GST applies to these premiums from 22 September 2025, as individual life insurance is now exempt. The 4.5% and 2.25% you may see on older receipts was the rate before that date.
Survival benefits and maturity value
| When | Payout (as modelled) |
|---|---|
| 5 years before maturity | 25% of sum assured |
| 4, 3, 2 and 1 year before maturity | 10% of sum assured each year |
| On maturity | 50% of sum assured + all bonuses |
In Example 1, using a ₹38 bonus, the child receives ₹1,25,000 at age 20 and ₹50,000 at each age from 21 to 24. At 25, the maturity payment is about ₹6,49,000 (₹2.5 lakh plus ₹3.99 lakh bonus). The total estimated benefit is ₹9,74,000 against ₹4,93,200 paid. In Example 2, ₹62,280 of premium grows to about ₹2,10,000.
Compared with Plan 184, the larger maturity payment makes Plan 185 better suited to one big goal at 23–27, while 184 suits spread-out college costs.
Death benefit and extended cover
- During the policy term: sum assured plus accrued bonuses, with no deduction for payouts already made.
- For seven years after maturity: the sum assured, with no premium payable.
- If the optional premium waiver was taken, the proposer’s death during the premium term stops further premiums without cutting benefits.
Surrender, loan and paid-up value
After three full years of premiums, the policy acquires a surrender value and becomes eligible for a loan. Stopping premiums after that point turns it into a paid-up policy with a reduced sum assured. For an early-exit estimate, use the LIC surrender value calculator.
Should you continue your Plan 185 policy?
In most cases, yes. With the premium term usually finished, the remaining years add bonus without further outgo. Surrendering late in the term gives up a large part of that bonus. Parents choosing a fresh policy today can compare options with the LIC child plan calculator.
How to use this calculator
- Enter the child’s entry age and choose a maturity age.
- Pick the premium term and the mode.
- Enter the sum assured and a bonus rate.
- Review the yearly premium, payout table and total. Figures are estimates; your policy documents are the final word.
Frequently asked questions
Is LIC Child Future Plan 185 still available?
No. Plan 185 was withdrawn from sale on 1 January 2014. Policies already issued continue until maturity with all promised benefits. For a new child policy, compare current LIC plans such as Jeevan Tarun 734 or New Children's Money Back 732.
How is Child Future Plan 185 different from Child Career Plan 184?
Both cover the child, allow entry from 0 to 12 years and mature between ages 23 and 27. Plan 184 front-loads payouts (30% then 15% a year), while Plan 185 pays smaller early instalments and keeps a larger share, with the bonus, for the maturity date.
What survival benefits does Plan 185 pay?
As modelled in our calculator, 25% of the sum assured is paid five years before maturity and 10% in each of the next four years. The remaining 50% is paid at maturity together with the accumulated bonus. Always confirm exact percentages in your policy bond.
What is the death benefit under Child Future Plan 185?
If the child dies during the policy term, the nominee receives the sum assured plus accrued bonuses. Money-back instalments already paid are not deducted. During the seven-year extended cover after maturity, the sum assured is payable.
Was there a premium waiver in Plan 185?
Yes, as an option. If the proposer, usually a parent, had opted for the premium waiver benefit and died during the premium term, future premiums were waived while the child's policy continued with full benefits.
What bonus rate should I use in the calculator?
LIC declares simple reversionary bonus every year per ₹1,000 sum assured. For older money-back plans, ₹34–45 is a reasonable range. The calculator defaults to ₹38 and does not add the final additional bonus, which is discretionary.
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.