Amritbaal Plan 774
Amritbaal Plan 774: LIC of India new children plan going to launch on 1st. October 2024 which name is LIC Amritbaal Plan 774 (Table no 774) is a Gauranteed Additions plan. LIC Amritbaal Plan 774 is a limited premium and single premium payment policy. LIC ‘Amritbaal Plan 774′ is specially designed for various financial needs of children through limited premium and single premium payment option.
Every parent in India dreams of giving their child the best education, a secure career, and a happy married life. But with the rising cost of higher education (MBA, MBBS, Engineering) and wedding expenses, planning for your child’s future has become more important than ever.
To address this, LIC has launched the Amritbaal Plan (Plan No. 774) – a guaranteed child savings + insurance plan that ensures financial security for your child’s education, career, and marriage, even if something unexpected happens.
👉 In this detailed guide, we’ll cover:
- What is LIC Amritbaal Plan 774?
- Features & Benefits with Tabular Data
- Premium & Payout Examples
- Analyst Opinions & Investor Insights
- Real-Life Scenarios for Parents
- FAQs for Google Search Optimization
- Final Expert Verdict
What is LIC Amritbaal Plan 774?
The LIC Amritbaal Plan 774 is a non-linked, non-participating, individual savings plan launched specifically for children.
It is a guaranteed return child policy that provides:
- Guaranteed lump sum maturity benefits for education & marriage.
- Insurance protection for the child.
- Optional rider – Premium Waiver, ensuring plan continues even if parent dies.
- Flexibility in choosing maturity age for the child (like 18, 21, 25 years).
This makes LIC Amritbaal one of the most reliable child investment options in 2025.
Key Features of LIC Amritbaal Plan 774
| Feature | Details |
|---|---|
| Plan Type | Child Insurance + Guaranteed Savings |
| Plan No. | 774 |
| Eligibility (Child’s Entry Age) | 30 days – 13 years |
| Maturity Age | 18 – 25 years |
| Policy Term | (Maturity Age – Entry Age) |
| Premium Payment Term | (Policy Term – 5 years) |
| Minimum Sum Assured | ₹2,00,000 |
| Maximum Sum Assured | No Limit (multiples of ₹10,000) |
| Premium Payment Mode | Yearly, Half-Yearly, Quarterly, Monthly |
| Loan Facility | Available |
| Surrender Value | Available after 2 years |
| Rider Option | Premium Waiver Benefit Rider |
Benefits of LIC Amritbaal Plan
1. Guaranteed Maturity Benefit
- At the chosen maturity age (18–25 years), child receives Sum Assured + Guaranteed Additions.
- Perfect for college fees, higher education abroad, or marriage expenses.
2. Death Benefit
If the child (Life Assured) dies during the policy term:
- Death Sum Assured + Accrued Guaranteed Additions is paid.
If the parent (policyholder) dies, with Premium Waiver Rider, premiums are waived but policy continues.
3. Guaranteed Additions
- LIC Amritbaal offers ₹80 per ₹1,000 Sum Assured per year as Guaranteed Additions (from 6th policy year onwards).
- This significantly increases maturity value.
4. Tax Benefits
- Premiums eligible under Section 80C.
- Maturity & death benefits generally tax-free under Section 10(10D).
Example – LIC Amritbaal Premium & Benefits
Case Study: Mr. Rajesh buys Amritbaal Plan 774 for his 5-year-old son.
- Sum Assured: ₹10,00,000
- Policy Term: 20 years (Maturity at 25 years)
- Premium Payment Term: 15 years
- Annual Premium: ~₹48,000 (approx.)
Payout Illustration
| Child’s Age | Event | Benefit |
|---|---|---|
| 5 | Plan starts | – |
| 6–25 | Guaranteed Additions | ₹80,000 yearly |
| 25 | Maturity | ₹10,00,000 + Guaranteed Additions (₹16,00,000) = ₹26,00,000 |
👉 Total investment ~₹7.2 lakh, maturity ~₹26 lakh (guaranteed).
Investor Scenarios
Scenario 1 – Education Funding at 21
Parents choose maturity at 21 years for higher education abroad. Corpus of ₹20–25 lakh helps cover MBA/Engineering fees.
Scenario 2 – Marriage Planning at 25
Parents choose maturity at 25 years. Corpus of ₹25–30 lakh ensures smooth marriage expenses.
Scenario 3 – Security with Premium Waiver
If father dies at age 40 (when child is 10), premiums waived but policy continues. At 25, child still receives ₹25 lakh maturity.
Analyst Insights & Expert Reviews
- Insurance Analysts: “LIC Amritbaal is ideal for conservative parents who want guaranteed returns instead of market risk.”
- Financial Planners: “Guaranteed additions make this plan strong for long-term child goals. It beats fixed deposits in return + insurance combo.”
- Investor Viewpoint: “Though IRR is ~5.5–6.5%, the security of guaranteed payout makes it worth it for child’s future.”
Real-Life Examples
Example 1 – Education Abroad
Mrs. Meena invests ₹15 lakh SA for her daughter at age 3. At 21, maturity value is ₹40–45 lakh. She uses it for her daughter’s MBA in USA.
Example 2 – Son’s Marriage
Mr. Sharma takes ₹12 lakh SA for his son at age 7. At 25, maturity corpus ~₹30 lakh is used for marriage + business setup.
Comparison – Amritbaal vs Other LIC Child Plans
| Plan | Payout Type | Best For | Returns |
|---|---|---|---|
| Amritbaal 774 | Guaranteed lump sum + Additions | Education, Marriage | High security, 5.5–6.5% |
| Jeevan Tarun 934 | Flexible money-back 20–24 + maturity at 25 | Step-wise college fees | 5–6% + Bonus |
| Children’s Money Back 932 | Fixed % payout at 18, 20, 22, 25 | Milestones | 5–6% |
Strengths & Limitations
Strengths ✅
- Guaranteed lump sum (safe investment).
- Premium Waiver Rider ensures child’s future.
- Tax-free maturity.
- Better than FD/PPF in combined safety + insurance.
Limitations ❌
- Moderate IRR (5.5–6.5%).
- Not suitable for aggressive investors seeking 10–12% returns.
- No survival payouts before maturity.
FAQs – LIC Amritbaal Plan
Q1. What is the maturity age in LIC Amritbaal Plan?
👉 Between 18–25 years (chosen by parents).
Q2. Is LIC Amritbaal better than Jeevan Tarun?
👉 Amritbaal gives guaranteed lump sum, Tarun gives flexible payouts.
Q3. Can I take a loan under Amritbaal?
👉 Yes, after 2 years of premium payment.
Q4. What if parent dies?
👉 With Premium Waiver Rider, premiums waived & child still gets maturity.
Q5. Is it tax-free?
👉 Yes, under Section 80C & 10(10D).
Final Thoughts – Should You Buy LIC Amritbaal Plan?
The LIC Amritbaal Plan 774 is a must-consider child plan in 2025 for Indian parents who want:
- Guaranteed lump sum at maturity.
- No market risk.
- Premium waiver safety for parents.
It may not match equity returns, but it provides peace of mind, guaranteed growth, and tax benefits.
👉 If your top priority is your child’s education, marriage, and financial security, LIC Amritbaal is one of the best LIC child plans available in 2025.
