Which Companies Offer Triple Benefit Child Plans?

Finding the perfect child plan is no easy task. Parents should create a backup that takes care of all their children’s needs in case of emergencies, especially death. Triple benefit child plans offer you a complete package that financially protects your children. If you are looking for similar options, you should check out these insurance companies and their plans.

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Best Child Saving Plans
  • 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*

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With each child plan comes a standard set of benefits. And the insurance sector in India has way too many options for you to explore. However, to pick the best child plan for your kid, you need more than just insurance protection and savings. You need a plan that covers all the bases when you are not around to guide your child. This is where insurance companies offering triple child benefits can assist you.  

What are the triple benefits of a child plan?

Insurance companies are introducing the following 3 core benefits with their child plans - 

  • Immediate sum assured to the child on the death of a parent

  • Future premiums paid off by insurer to keep the policy in force

  • Full accumulated fund value to the child at the end of the policy term

Some insurers have raised the stakes with another feature on top of the above offerings. This is the monthly income benefit that covers the loss of a regular income after the death of a parent. 

Let’s find out which companies offer triple child benefits with their insurance plans. 

Companies Offering Triple Child Benefits

Here is a list of child plans that combine the triple benefits mentioned above along with information on which companies offer them. 

Insurance Company Name of Child Plan Type of Plan Extra Benefits
Bajaj Allianz Bajaj Allianz Life Smart Wealth Goal -  Child Wealth Variant Unit-linked Insurance Plan Income benefit, partial withdrawal
Bajaj Allianz Future Gain Unit-linked Insurance Plan Top-up premium, withdraw any amount after 5 years, monthly income
Max Life Max Life Online Savings Plan - Child Solution Unit-linked Insurance Plan Multiple withdrawals, 100% of the invested amount returned
ICICI Prudential iPru Smart Kid Unit-linked Insurance Plan Loyalty Additions and Wealth Boosters, partial withdrawal
Edelweiss Tokio Edelweiss Tokio Life Wealth Plus - Rising Star Unit-linked Insurance Plan Future premiums added to fund value on death, partial withdrawal
HDFC Life HDFC Life Click 2 Wealth - Waiver of Premium option Unit-linked Insurance Plan Special additions, Return of Mortality Charges, partial withdrawal
TATA AIA TATA AIA Life Fortune Pro Unit-linked Insurance Plan Top-up sum assured, partial withdrawal

Disclaimer: Policybazaar does not rate, endorse or recommend any specific insurance provider or insurance product offered by any insurer.

Why buy triple benefit child plans?

The importance of such child plans lies in the financial benefits that a child receives after the death of a parent. Given the unit-linked nature of these insurance plans, you can ensure a big corpus for your child through market returns. Most importantly, you can rest assured that your child’s education is fulfilled without any financial struggle in your absence. Your children can also use the funds to start their own ventures and follow their dreams. All these are reasons why any parent should start looking at companies that offer triple child benefits. 

Summing Up

You can buy triple benefit child plans offered by any of the companies mentioned above through Policybazaar as well. It charges zero commission when you make a purchase. You also get the benefit of comparing the different options before buying one that best suits your needs.

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Nothing is more important than securing your child's future

  • Life Cover paid to family to meet immediate expense
  • Future premiums are paid by the Insurance Company

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