Does the SBI Life Child Plan Calculator show the exact premium?

No, the calculator does not display the exact premiums, but only an approximate monthly amount needed to fulfil a goal. The final premium amount depends on underwriting charges, medical requirements and policy terms.

Is the educational cost shown by the SBI Life Child Plan calculator accurate?

No, the calculator only shows approximate educational costs as per the details provided by you. The actual costs depend on the course type and educational inflation.

Can I use the SBI Life Child Plan Calculator to plan long-term financial goals?

Yes, you can use the SBI Life Child Plan calculator to plan your long-term financial goals. The calculator estimates the cost and investment required for your child’s future goals.

SBI Life Child Plan Calculator

Rising education costs can make it difficult to calculate how much you need to invest in a child plan. The SBI Life Child Plan Calculatorsimplifies this. It helps parents estimate the future cost of their child's education by considering factors such as the child's age, education goal and inflation. It also estimates the monthly amount needed to be saved in order to fulfil the goal.

Investing in your child's future:Nothing is more important than securing your child's future

Benefits of investing in child plan

Waiver of Premium benefits

Future Premiums are paid by the insurer upon death of policyholder

Flexible payout options

Your premiums help your child achieve their dreams through lump sum or regular payouts

Wealth Boosters

Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us

Zero Commission

We charge no commission when you buy from us. Also buy online & get extra

Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

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Invest ₹10k/month your child will get ₹1 Cr^# Tax-Free^*

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How to Use Policybazaar’s SBI Life Child Plan Calculator?

You can use Policybazaar’s SBI Life Child Plan Calculator by following these steps:

Step 1: Locate Policybazaar’s SBI Life Child Plan Calculator on this page
Step 2: Enter the name and age of your child in the calculator.
Step 3: Select the educational goal of your child from these options:

MBA
Doctor
Engineering
Other

Step 4: Select the type of college that you want your child to study in. You can select between a premier college, a private college and studying abroad options.
Step 5: Select the rate at which you expect the education costs to grow each year.
Step 6: The calculator will display the following results:

The estimated cost of the academic goal when your child starts their higher education.
The monthly amount you need to save to fund that goal.

Step 7: The next step is to choose the best child plan from the list of SBI Life child plans.

SBI Life Child Plan Calculator Example Calculations

Here are some example calculations using Policybazaar’s SBI Life Child Plan Calculator:

Career	Child’s Age	Type of College	Fees in 2026	Expected Annual Inflation	Fees in Future	Monthly Amount Needed
Engineering	3 years	Private colleges	₹15 lakhs	6%	₹35.9 lakhs (in 2041)	₹7800
Doctor	5 years	Premier colleges	₹25 lakhs	4%	₹41.6 lakhs (in 2039)	₹12,000
MBA	10 years	Private colleges	₹30 lakhs	8%	₹75.5 lakhs (in 2038)	₹25,200
Engineering	3 years	Abroad colleges	₹60 lakhs	4%	₹1.08 cr (in 2041)	₹23,500

Benefits of Using Policybazaar’s SBI Life Child Plan Calculator

Here are some key benefits of using the SBI Life Child Plan Calculator by Policybazaar:

Personalised Quotes: You can get personalised results with the SBI Smart Scholar Returns based on your child’s education goals and type of college.
Compare Plans: You can compare different investment goals for your child by varying the educational inflation rate, course and type of college with the help of the calculator.
Free to Use: The SBI Life Child Plan Calculator is free to use and can be easily accessed online.
Time Efficient: Using the calculator can save your time as it gives quick results, which saves you from the hassle of calculating yourself.

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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 *

Who Can Use the SBI Life Child Plan Calculator?

Here are the people who can use the SBI Life Child Plan Calculator to plan a child’s future:

Parents planning for their child’s higher education in India.
People comparing higher education expenses across different courses.
Parents planning for their child’s higher education in colleges abroad.

Child Plans Offered by SBI Life

The following table lists the child plans that you can choose. This list covers key details such as plan type, returns, premium payment frequency, etc:

Plan Name	Plan Type	Return/Benefit Nature	Premium Payment Frequency	Policy Term
SBI Life Smart Scholar Plus	Individual, non -participating ULIP plan	Market-linked	Yearly, half-yearly, quarterly, monthly, and Single Pay	8 years to 25 years
SBI Life Smart Future Star	Individual, Non-Linked, Participating Life Insurance Savings Product	Bonus-linked	Yearly, half-yearly and monthly	15 years to 25 years (both inclusive)
SBI Life Smart Platina Young Achiever	Individual, Non-Linked, Non-Participating Life Insurance Savings Product	Guaranteed benefits	Yearly, half-yearly and monthly	15 years to 25 years

FAQs

Does the SBI Life Child Plan Calculator show the exact premium?

No, the calculator does not display the exact premiums, but only an approximate monthly amount needed to fulfil a goal. The final premium amount depends on underwriting charges, medical requirements and policy terms.
Is the educational cost shown by the SBI Life Child Plan calculator accurate?

No, the calculator only shows approximate educational costs as per the details provided by you. The actual costs depend on the course type and educational inflation.
Can I use the SBI Life Child Plan Calculator to plan long-term financial goals?

Yes, you can use the SBI Life Child Plan calculator to plan your long-term financial goals. The calculator estimates the cost and investment required for your child’s future goals.

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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^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 investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++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.