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.

What is Child Education Plan?

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.

What is the right time to buy a child investment plan?

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.

How to choose the right child insurance plan?

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.

Does a child insurance plan provide any tax benefits?

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

Plans	Entry Age	Maximum Maturity Age	Minimum Annual Premium	Minimum Sum assured
AEGON Life Rising Star Insurance Plan	18-48 years	65 years	Rs 20,000/-	10 times of the regular Annualized premium
Aviva Young Scholar Secure	21-50 years	71 years	Rs 50,000/-	10 times the annual premium
Bajaj Allianz Young Assure	18-50 years	60 years	N/A	10 times the Annualized premium
Bharti AXA Life Child Advantage Plan	18-55 years	76 years	Depends on Minimum Sum Assured	Rs 25,000/-
Birla Sun Life Insurance Vision Star Plus	18-55years	75 years	N/A	Rs 1 Lakh
Edelweiss Tokio Life EduSave	18-45 years	60 years	Rs 6,968/-	Rs 2.25 Lakh
Exide Life New Creating Life Insurance Plus	18-45 years	60 years	5 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 Plan	21-50 years	67 years	Rs 20,000/-	N/A
HDFC SL YoungStar Super Premium	18-65 years	75 years	Rs 15,000/-	10 times the annualized premium
ICICI Pru SmartKid Solution	20-54 years	64 years	Rs 48,000/-	Rs 45,000/-
IndiaFirst Happy India Plan	18-50 years	60 years	Rs 12,000/-	Higher of 10 or 7 times the annual premium or 0.5/0.25termannual premium
Kotak HeadStart Child Assure	18-60 years	70 years	Regular pay – Rs 20, 0005 Pay – Rs.50, 00010 Pay – Rs.20, 000	Higher of 10 or 7 times the annual premium or 0.5/0.25termannual premium
Max Life Shiksha Plus Super	21-50 years	65 years	Rs 25000/-	Rs 2.5 Lakh
PNB MetLife College Plan	20-45 years	69 years	Rs 18,000/-	Rs 2,12,040
Pramerica Life Future Idols Gold Plan	18-50 years	65 years	Rs 10, 800/-	Rs 1.5 Lakh
Reliance Life Child Plan	20-60 years	70 years	Rs 25,000/-	Equal to Policy
Sahara Ankur Child Plan	0-13 years	40 years	Single-Premium- Rs. 30,000/-	5 times of Single Premium Paid
SBI Life- Smart Champ Insurance	21-50 years	70 years	Rs 6,000/-	Rs 1 Lakh
SBI Life- Smart Scholar	18-57 years	65 Years	Rs 24,000/-	20/7 times the annual premium (regular pay) 1.25 times single premium (single pay)
Shriram Life New Shri Vidya	18-50 years	70 years	N/A	Rs 1 Lakh
Smart Future Income Plan	18-55 years	80 years	N/A	100 times the chosen monthly income
SUD Life Aashirvad	18-50 years	70 years	N/A	Rs 4 lakh
TATA AIA Life Insurance Super Achiever	25-50 years	70 years	Rs 24,000/-	10 times of the yearly premium
Wealthsurance Future Star Insurance Plan	18-54 years	64 years	Rs 25,000/-	Higher of 10/7 times the annual premium or 0.5/0.25termannual premium

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