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Child Insurance Planning

Best Child Insurance Plans

Insure and give wings to your child’s dreams!

A child plan is a mix of investment and insurance that helps in the financial planning for a kid's future needs. The insurance aspect ensures that a child remains protected in the event of the unfortunate demise of a parent.

Plan Benefits

Questions? You’re covered.

A child education plan is designed to help children follow their educational pursuits in whichever field they choose. These plans come with a life cover and opportunities to maximize savings on the payment of due premiums. The lump-sum amount at the end of the policy term ensures that neither you nor your kid struggles for capital when it comes to financing higher education. 

There are a number of options for you to look at when it comes to saving for your child’s secure future. The following table compares three different types of savings avenues.

The moment your child is born. Buying early not only secures your child’s future but also gives more time to your money invested to grow. This helps in building a bigger corpus and ensures you have adequate funds needed at key milestones of your child’s life.

Adequate sum assured, waiver of premium benefit and pay-out structure are some important considerations which you must take into account before opting for a child insurance plan.

Yes, it does. Premiums paid towards a child insurance plan qualify for tax benefits under section 80C of the Income Tax Act, 1961. Also, the pay-out at maturity is tax exempt under section 10(10D).

Best Child Plans in India

PlansEntry AgeMaximum Maturity AgeMinimum Annual PremiumMinimum Sum assured
AEGON Life Rising Star Insurance Plan18-48 years65 yearsRs 20,000/-10 times of the regular Annualized premium
Aviva Young Scholar Secure21-50 years71 yearsRs 50,000/-10 times the annual premium
Bajaj Allianz Young Assure18-50 years 60 yearsN/A10 times the Annualized premium
Bharti AXA Life Child Advantage Plan18-55 years76 yearsDepends on Minimum Sum AssuredRs 25,000/-
Birla Sun Life Insurance Vision Star Plus18-55years75 yearsN/ARs 1 Lakh
Edelweiss Tokio Life EduSave18-45 years60 yearsRs 6,968/-Rs 2.25 Lakh
Exide Life New Creating Life Insurance Plus18-45 years60 years5 Years PPT: 50,000 p.a; 8 Years PPT: 30,000 p.a; 10 Years: 25,000 pa: 5 PPT: 2,05,020 (Monthly) and 1,85,280 (Annual) ; 8 PPT: 1,78,780 (Monthly) and 1,62,380 (Annual) ; 10 PPT: 1,79,590 (Monthly) and 1,63,120 (Annual)
Future Generali Assured Education Plan21-50 years67 yearsRs 20,000/-N/A
HDFC SL YoungStar Super Premium18-65 years75 yearsRs 15,000/-10 times the annualized premium
ICICI Pru SmartKid Solution20-54 years64 yearsRs 48,000/- Rs 45,000/-
IndiaFirst Happy India Plan18-50 years60 yearsRs 12,000/-Higher of 10 or 7 times the annual premium or 0.5/0.25*term*annual premium
Kotak HeadStart Child Assure18-60 years70 yearsRegular pay – Rs 20, 0005 Pay – Rs.50, 00010 Pay – Rs.20, 000Higher of 10 or 7 times the annual premium or 0.5/0.25*term*annual premium 
Max Life Shiksha Plus Super21-50 years65 yearsRs 25000/-Rs 2.5 Lakh
PNB MetLife College Plan20-45 years69 yearsRs 18,000/-Rs 2,12,040
Pramerica Life Future Idols Gold Plan18-50 years65 yearsRs 10, 800/-Rs 1.5 Lakh
Reliance Life Child Plan20-60 years70 yearsRs 25,000/-Equal to Policy
Sahara Ankur Child Plan0-13 years40 yearsSingle-Premium- Rs. 30,000/-5 times of Single
Premium Paid
SBI Life- Smart Champ Insurance21-50 years70 yearsRs 6,000/-Rs 1 Lakh
SBI Life- Smart Scholar18-57 years65 YearsRs 24,000/-20/7 times the annual premium (regular pay) 1.25 times single premium (single pay)
Shriram Life New Shri Vidya18-50 years70 yearsN/ARs 1 Lakh
Smart Future Income Plan18-55 years80 yearsN/A100 times the chosen monthly income
SUD Life Aashirvad18-50 years70 yearsN/ARs 4 lakh
TATA AIA Life Insurance Super Achiever25-50 years70 yearsRs 24,000/-10 times of the yearly premium
Wealthsurance Future Star Insurance Plan18-54 years64 yearsRs 25,000/-Higher of 10/7 times the annual premium or 0.5/0.25*term*annual premium
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