HDFC Life has various plans that serve people of all age groups starting from children to people planning their retirement. Its child savings plans offer double benefits in the form of life insurance protection and creating a corpus for the child’s future. With the HDFC child double benefit calculator, customers get to first calculate the benefits and premium and then purchase their desired policy.Read more
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*
A child plan calculator is an online tool that helps the policyholder analyze the different types of plans available before buying one. When we talk about HDFC Child Double Benefit plan calculator, it helps you calculate the premium for financing the child's future needs related to education, marriage, etc.
The online child plan calculator considers various factors such as interest rates, inflation rate, and the child's current age before calculating the premium rate. The online tool also informs the user about the amount of life cover needed and the total amount that the customer would receive at the end of the policy term.
Here are reasons why you should use a Child Plan Calculator -
The child plan calculator helps the customer compute the premium rate required to meet the child's milestones.
It helps the customer to assess the risk involved in choosing a suitable plan. The customer with a risk appetite can choose a unit-linked plan, whereas the conservative one can select a savings or a term plan as per one's choice.
The customer can recalculate using the child plan calculator and finalize a premium rate that is affordable for him/her in the long term.
The child plan calculator also allows customers to include riders and see how the premium and the benefit amount changes.
The HDFC Child Double Benefit Plan Calculator gives a clear idea about the guaranteed additions as well.
The calculator for HDFC Life child plans is designed to be customer-centric. It is easy to use and accessible online by the users on the insurer's official website and mobile app. The process to use the child plan calculator is as follows:
Fill the online form with personal details.
The calculator will prompt the user to provide the essential details such as the name, date of birth of the policyholder, age of the policyholders' child, dependents.
It may also ask the customer if he/she has any smoking habits. Plans may require the customers to reveal their NRI status.
The customer is redirected to a page where he/she needs to enter the sum assured.
The policyholder is then given the estimate of the premium rate based on the policy term and the premium payment terms chosen.
The policyholder needs to have some basic details handy to utilize the calculator effectively. Some of the mandatory information required by the child plan calculator are as follows:
Names and DOBs of the child and parent
Goal of investment
Premium paying term
Premium paying frequency
Fund option in case of ULIPs
Some of the benefits of buying a child plan are as follows.
If the life insured has died due to unforeseen events, the life insured's nominee will get the death benefit along with guaranteed additions and bonuses.
Under the Classic Waiver Death Benefit Option, the company will waive all future outstanding premiums under the policy. The payouts will continue as scheduled as per the policy term.
The maturity benefit has three options which are given as follows.
Aspiration - Lump sum on maturity
Academia - Five-year payouts comprising 15% of the sum assured every year for the first 4 years and 30% of the sum assured in the 5th year.
Career – 15% of the sum assured every year for the first 5 years and 40% at the time of maturity.
The plan gives the policyholders an option for additional boosters if the premium payment term is 10 years or more.
The HDFC child double benefit plan is a savings cum life cover plan available to the customers at a competitive rate.
The entry age is based on the maturity benefit availed by the policyholder.
The entry age to avail of the aspiration maturity benefit is 0 years.
The entry age to avail of the Academia or career maturity benefit is eight years.
The entry age to avail of all three options is 18 years.
The minimum policy term is 15 years with a maximum of 25 years.
The customer can choose from two policy payment terms – 7 years or 10 years.
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