Start financial planning today for your child’s better tomorrow.
As a parent or parent-to-be, the only priority is to secure their child’s present and future by fulfilling their necessities. As we all know, life is full of uncertainties, so it is important to have enough savings that help your child in fulfilling his/her dreams. This requires financial planning for your child’s future at the right age. In such cases, Child Insurance is the one-stop solution for your every problem. While there are several term insurances plans available in the market, but child insurance is one of the right plans for your child.
Insurer pays your premiums in your absence
Invest ₹10k/month and your child gets ₹1 Cr tax free*
Save upto ₹46,800 in tax under Section 80(C)
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Nothing Is More Important Than Securing Your Child's Future
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
Child Insurance policies are guaranteed return plans or endowment or Unit Linked Insurance plans that provide financial protection and security to your child. These plans look after the savings requirements for the child’s future and education. Every parent’s first goal is to ensure that their children to have a successful future and live their lives securely. Child plans help you to save for the higher education of your child. In this, you can build a corpus for the long term and get good returns. Child plan offers unique benefits such as waiver of premium, tax benefits, life coverage, etc.
Let’s understand this with the help of an example: Mr. Ravi has taken a insurance plan of 10 years for his child. He requires to pay a premium depending on his choice of premium payment mode. The payment modes are monthly, half yearly, yearly, or in single pay. If Mr. Ravi dies in the 7th policy year, in such cases his beneficiary/nominee receives all the lump-sum payments. If in case Mr. Ravi survives the entire policy term, then he is eligible to select the use of amounts in equal parts for his child's education or he can also choose to receive a lump-sum amount at the policy end.
Nowadays, child insurance is important, if you want to secure his/her child financially. However, before deciding which is the right option for you, one should be aware of such insurance policies. Let’s discuss some of the points about child insurance plans:
There are three types of child insurance plans available. Here’s a quick laydown:
Child ULIP |
Traditional Plans (Endowment Plan) |
It is a combination of insurance and investment benefits under a single plan. |
It is an insurance cum investment plan. |
Investments are done in the form of equity markets and the returns depend on the market performance. |
In this, the amount of payout is guaranteed |
It provides you an option to make fund switches to the complete investment policy |
The plan does not allow any changes to the policy |
In this, after the lock-in period, you can withdraw the amount. |
There are limitations and penalties in case of withdrawal |
As parents, kids are the most valuable part of their lives and they want to provide the best facilities to them. Parents spend half of their time thinking about their child’s aspirations and the inadequacy of funds might become a hindrance in your child’s dream. It is always better to start saving at the right age for a child’s higher education. Start financial planning today for your child’s better tomorrow. Choose the right cover for child in term life insurance at the right age and time.
Nothing is more important than securing your child's future
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