Fixed Deposit for Child in HDFC

It becomes imperative to secure the children’s future financially to fulfil their future needs and expenses in the long run. HDFC has come up with insurance plans that have been designed exclusively for your children. Underneath are the features and benefits to help you choose the most viable option at your disposal.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

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  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

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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Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
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We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

HDFC Life Click 2 Wealth – Premium Waiver Option

A unit-linked insurance plan with market-linked returns and life protection for you and your family. 

Key features of the plan:

  • Two charges, one for the fund's management and the second as mortality charge towards life cover.

  • Multiple premium options of single pay, regular pay, and limited pay. 

  • Premium waiver benefit

  • Three plans to choose from (a) Invest Plus Option for Insurance cum Investment, (b) Premium Waiver Option to protect milestones for dependents, and (c) Golden Years Benefit Option for Retirement Planning with Whole Life Cover.    

Premium payments and policy term 

Points to know Invest Plus  Premium Waiver Option  Golden Years Benefit Option
The plan A plan that provides accumulated fund value at maturity. In case of the policyholder's demise, all the future premiums are waived, and the life assured is paid the sum at maturity.  A combination of retirement planning and/or leaving a legacy behind.  
Maximum premium  No limit No limit No limit
Minimum premium Monthly: INR 1,000/-
Quarterly: INR 3,000/-
Half-yearly: INR 6,000/-
Annual: INR 12,000/-
Single: INR 24,000/-
Monthly: INR 1,000/-
Quarterly: INR 3,000/-
Half-yearly: INR 6,000/-
Annual: INR 12,000/-
Single: INR 24,000/-
Monthly: INR 1,000/-
Quarterly: INR 3,000/-
Half-yearly: INR 6,000/-
Annual: INR 12,000/-
Single: INR 24,000/-
Term of the policy 10 to 40 Years 10 to 40 Years 99 minus age at entry 
Maturity age  18-75 Years 18-75 Years 99 Years
Age at entry  30 days to 60 Years 30 days to 60 Years 30 days to 60 Years

Sum assured: 

Premium  Single pay Regular & limited pay Top-Up
Minimum  1.25 x single premium  10 x annualized premium 1.25 x top-up premium
Maximum As per board approved underwriting policy As per board approved underwriting policy As per board approved underwriting policy

People also read: Child Education Plan

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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

HDFC SL YoungStar Super Premium

Valuable financial protection for your child, with yearly payouts to your family in the event of your unforeseen death. It allows investing in various funds and also provides flexible payment preferences as enumerated underneath: 

Choice of premium and level of protection

Minimum: Minimum of INR 15,000/- as premium and a minimum sum assured of 10^annualized premium in case the age is less than 45 years; whereas 7^annualized premium in case of age equal to 45 years and above. 

Maximum: No limit on premium payments and a maximum sum assured of 40^ annualized premiums.

Plan options

  • Life option for death benefits

  • Life & health option for the death benefit in addition to critical illness benefit

Benefit payment preference:

Save benefit Save and gain benefit
HDFC pays the assured sum to the nominee. HDFC pays the assured sum to the nominee. 
Your family will not pay any further premiums, and 100% of the premiums are payable by HDFC towards your policy, and all risk covers will cease. Your family will not pay any further premiums. HDFC will pay 50% of all the future premiums of your policy, and the balance 50% will be paid to the nominee as, and when due on an annual basis, and all risk covers will cease. 
On maturity, the fund value is payable to the nominee. On maturity, the fund value is payable to the nominee.

Choose your investment funds: You can choose among the Income, Balanced, Blue Chip, and Opportunities Fund. Furthermore, you can move your accumulated funds from one fund to another available fund anytime or choose to put your premiums in future in a different fund as per your needs. 

Eligibility: 

Parameter  Life and health option  Life option 
Minimum age to entry 18 Yrs 18 Years 
Maximum age on entry 55 Yrs 65 years 
Maximum age on maturity 65 Yrs 75 Years
Minimum policy period 10 Yrs 10 Years
Maximum policy period 20 Yrs 20 Years 

Receipt of your money:

  • On maturity: The policy matures at the end of the policy term you have chosen, and all your risk cover ceases. You can redeem your balance units at the then prevailing unit price and take the fund value. You can take your fund value in periodical instalments over a period that may extend to a maximum of 5 years.  

  • On death: In case of your demise during the policy term, the benefit payable to your beneficiary will be determined by the benefit payment preference chosen by you. The minimum death benefit will be at least 105% of the total premiums paid.   

  • On critical illness: In case you are diagnosed with any critical illness covered before the end of the policy term, the benefit is determined based on the benefit payment preference.  The death benefit protection ceases immediately.  

  • By partial withdrawal: You can withdraw lump sum amounts from the fund after 5 years of the policy provided, 

    • The minimum withdrawal amount is INR 10,000/-

    • The maximum amount which can be withdrawn is 300% of the original regular premium.

    • After the withdrawal, the fund value should not be less than 150% of the original premium.   

  • On discontinuance: The plan has a grace period of 30 days. You are expected to pay your annual premium throughout the policy term. During the grace period, the policy is considered to be active without any interruption along with the risk cover.

HDFC Life Youngstar Udaan 

A plan designed for parents who are keen to vouch for the academic expenses of their children before a college education or have specific goals in mind like college fees or marriage expenses. 

It has the following features:

  • It is readily available with a short medical questionnaire-based underwriting.

  • The insurance coverage is available throughout the policy term, even after paying premiums for a limited term. 

  • Three distinct maturity options are available.

  • Manifold premium options.

  • Participating in a money-back and endowment plan with multiple options.

Premiums: Multiple premium options are available annually, half-yearly, quarterly, or monthly. The minimum limits specified are as under: 

Period Minimum instalment premium Maximum instalment premium
Annual  INR 24,000/- (+ applicable taxes)  No limit
Half-yearly INR 12,000/- (+ applicable taxes) No limit
Quarterly INR 6,000/- (+ applicable taxes) No limit
Monthly INR 2,000/- (+ applicable taxes) No limit

Policy Term: The minimum policy term is 15 years with a maximum of 25 years. Furthermore, the term can range from 7 years, 10 years, or the policy term minus 5 years. 

Eligibility criteria: 

Eligibility criteria Death benefit options Maturity benefit options Minimum Maximum
Age at Entry  Classic Option 1: Aspiration 0 Years (30 days) 60 Years
Classic Option 2: Academia 8 Years 60 Years
Classic Option 3: Career  8 Years 60 Years
Classic Waiver All options  18 Years 55 Years
Age at Maturity  Classic Option 1: Aspiration 18 Years 75 Years
Classic Option 2: Academia 23 Years 75 Years
Classic Option 3: Career  23 Years 75 Years
Classic Waiver All options  33 Years 75 Years

Death benefits: The policy offers two different options as per your requirements; the same has been enumerated underneath: 

Classic death benefit option: The death benefit shall be higher of (a) Sum assured on death and (b) 105% of the total premium paid.

  • Where the sum assured on death shall be higher of (a) Sum assured on maturity and (b) 10 times annualized premium for entry age up to 50 years and 7 times annualized premium for entry age greater than 50 years.  

  • Furthermore, accrued guaranteed additions, accrued reversionary bonuses, interim bonuses, and terminal bonuses would be payable. 

Classic waiver death benefit option: The benefit shall be higher of (a) Sum assured on death and (b) 105% of the total premium paid.

  • Where the sum assured on death shall be the higher of (a) sum assured on maturity and (b) 10 times annualized premium for the entry age up to 50 years and 7 times annualized premium for entry age greater than 50 years.     

Maturity Benefits: At the time of maturity, the policy provides benefits such as reversionary bonus, interim bonus, and terminal bonus, along with accrued guaranteed additions, last guaranteed payout for money-back options, or sum assured on maturity for endowment option.     

Maturity benefits options: There are three maturity benefit options available which are of   two types: 

(a) Endowment option (Option 1) – whereby a lump sum is paid at maturity. The option is termed Aspiration.

(b)Moneyback options (Option 2 & 3) – These options are termed as Career and Academia, whereby the payouts are offered in the last 5 years before maturity.      

  1. Option 1: Aspiration

    Year of Payout Lump-Sum Paid at maturity
    How Much?  100% of sum assured + GA (25% of sum assured)
    How can the payouts be used?  A lump sum that can be used to pay for marriage expenses or starting up a business venture. 
    Guaranteed payout amount for INR 5 Lakhs of sum assured on maturity INR 6,25,000/-
  2. Option 2: Academia

    Year of payout How much? How can the payouts be used? The guaranteed payout amount for 5 Lakhs of sum assured on maturity
    At maturity  15% of SA + GA (25% of SA) Further education  INR 2,00,000/-
    1st year before maturity  15% of SA Course fee or hostel expenses INR 75,000/-
    2nd year before maturity 15% of SA Course fee or hostel expenses INR 75,000/-
    3rd year before maturity 15% of SA Course fee or hostel expenses INR 75,000/-
    4th year before maturity 15% of SA Course fee or hostel expenses INR 75,000/-
    5th year before maturity 30% of SA For professional course INR 1,50,000/-
  3. Option 3: Career 

    Year of payout How much? How can the payouts be used? Guaranteed payout amount of INR 5,00,000/- of sum assured on maturity
    At maturity  40% of sum assured + GA (25% of SA) Further education abroad, marriage expenses, or higher post-graduation studies INR 3,25,000/-
    1st year before maturity  15% of sum assured Graduation INR 75,000/-
    2nd year before maturity 15% of sum assured Graduation INR 75,000/-
    3rd year before maturity 15% of sum assured Graduation INR 75,000/-
    4th year before maturity 15% of sum assured Higher secondary or junior college INR 75,000/-
    5th year before maturity 15% of sum assured Higher secondary or junior college INR 75,000/-

FAQ's

  • Why should you invest in child policies?

    The college fees of your children can be a huge burden. Private schools are expensive, and the foreign university fees are touching the skies. Further, marriage expenses can dry your savings. This is where investing in a child policy becomes all the more important. 
  • How much should you be saving for your child’s future? 

    The amount you need to save for your child’s future is subject to several factors, such as their aspirations, expectations, future goals, and dreams.
  • What are the documents required for purchasing the plan?

    • Proof of age can be a passport copy, birth certificate, or your education mark sheets
    • Proof of identity: KYC documents such as Pan Card, Aadhaar Card, Driving License, Voter Id
    • Proof of income like salary slips, Form 16, Income Tax Returns
    • Proof of address: Any document like passport, driving license, Aadhaar card
  • How to select the right child insurance plan? 

    Compare all the available options subject to your requirements and expectations. Work with an expert to determine and clarify all the terms and conditions the policy is subject to and then make your purchase.
  • Do the policies provide income tax benefits? 

    Yes, the premiums paid are allowed as deduction under Section 80C of the Income Tax Act, 1961, subject to a limit of INR 1,50,000 only.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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