- Child Plans
- What Are ICICI’s Girl Child Plans?
- Need For Child Plans For Young Girls
- Types Of ICICI Child Plans
- List Of ICICI Girl Child Plans
- Key Features Of ICICI Girl Child Plans
There is no greater joy than to see your daughters grow up to become leaders in their fields.You can make this a reality with ICICI girl child plans that cater to your savings requirements and insurance needs. The former takes care of your child’s education expenses while the latter keeps them safe financially on your unfortunate demise.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*
Let’s look at the product offerings of ICICI Pru that cover all your requirements through standalone child plans.
ICICI girl child plans are unique insurance cum savings products that allow parents to grow funds for their daughters’ futures. These range from traditional endowment-based child education plans, and ULIPs, to savings accounts such as the Sukanya Samriddhi Yojana. Let’s peruse these options in more detail.
Child plans are protection plans for young children that safeguard their future in the absence of an earning parent. Further, these plans help one to grow a corpus for their kids through investments in market-linked funds via ULIPs. A child education plan can help you save for their education and finance any field they might want to pursue, be it internationally or from a prestigious national university. The best child insurance plan is one that offers comprehensive protection as well as wealth creation opportunities.
ICICI child plans collect a premium amount from the parent for a certain period. This amount pays for insurance protection and investment opportunities. Once this period ends, the child receives a lump sum amount to take care of their needs. On the death of a parent, the policy pays out a death benefit which ultimately can be used to finance their pursuits. Moreover, ICICI waives off future premiums on the death of a parent required to keep the policy in force which ensures that the child is secure throughout the policy tenure.
Women have been making significant strides in every field. Education plays an important role in lifting them up and getting them the opportunities that they deserve. As a parent, it is upon you to secure their futures so that they don’t struggle for finances to achieve their dreams. However, education is not cheap in India. Getting an MBA, an engineering degree, or a medical certification requires lakhs and lakhs of rupees. With inflation burning holes in parents’ pockets, it is imperative to think ahead and plan the finances surrounding your daughter’s education.
A child education plan for your girl child can act as a safety net to fall back on if any misfortune were to befall you. Even if you survive the policy term, such plans inculcate the habit of regular savings and the accumulated sum is paid out to you on the date of maturity. The best insurance plan for your girl child will be one that combines the benefits of insurance and market-linked investments to achieve comprehensive, well-rounded protection.
You have the option to invest in 3 different types of child plans at ICICI Prudential Life Insurance for your daughters. These are:
Girl Child Savings Account - Regular deposits earn interest for a specific tenure to accumulate into a lump sum payout at maturity.
Child ULIPs (unit-linked insurance plans) - Part of the premiums are invested in funds, the performance of which depends on market conditions. The other half goes towards the life insurance cover. The best investment plans for girl child in India offer flexibility in fund options and generate balanced returns based on the risk appetite of the investor.
Child Savings Plan - Traditional savings plan wherein premiums are paid against the desired life cover. At specific intervals, policyholders can enjoy income payouts to fund different milestones in a girl child’s life.
|Name of Scheme||Type of Scheme||Eligibility||Risk Profile|
|Sukanya Samriddhi Yojana||Savings Account||Child age below 10 years
Annual deposit (rs.) 250 - 1,50,000
|ICICI Pru Smart Kid Plan||Child ULIP||Min entry age - 20 years||High risk|
|ICICI Pru Signature Plan||ULIP||Entry Age - 0 to 60 years||High risk|
|ICICI Pru Guaranteed Income for Tomorrow||Savings-based life insurance||Min entry age - 18 minus policy term||Low to moderate risk|
The ICICI Sukanya Samriddhi Yojana account earns an interest of 7.6% per annum.
The deposits can be made for a period of 15 years from the date of opening the account.
Partial withdrawal is only allowed after the girl child reaches the age of 18 years.
The interest earned, the maturity amount and the amount invested are all exempt from taxes.
The policy matures after a period of 21 years from the date of opening the account.
It offers opportunities to create wealth and generate returns through investment across a choice of 11 different types of funds.
All future premiums are waived off in the untimely demise of the parent. The policy however continues to be in force till maturity.
On the date of maturity, the final fund value is paid out as a lump sum to the nominees.
It offers scope to finance educational milestones in a child’s life through partial withdrawals from the 6th policy year onwards.
This one is another ULIP that covers the risk of death of the life assured throughout the policy term, with the possibility to extend coverage to 99 years.
It comes with 4 different investment portfolio that one can choose per their risk appetite.
The ICICI Pru Signature Plan allocates the entire premium amount toward market-linked investments.
The mortality and policy administration charges are returned at maturity.
It offers a systematic withdrawal scheme, by way of which one can withdraw certain sums of money from the fund value to finance a girl child’s educational pursuits.
Wealth boosters are added every 5 years starting from the 11th policy year.
Policyholders can earn guaranteed regular income from the 2nd policy year if they opt for the Guaranteed Early Income benefit.
You have the option to take loans against the policy to fund your daughter’s needs.
You have the option to pay premiums for a limited time but enjoy life cover throughout the policy term.
With ICICI Pru Guaranteed Income for Tomorrow, you can choose to receive a guaranteed income for 5, 7, or 10 years after completing premium payments.
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