SBI Life Investment Plan For Girl Child

The best investment plan for a girl child is one that allows parentsto save while also accelerating the growth of their savings. The accumulated corpus can be used towards serving the needs of your young daughters when they grow up. SBI Life offers the Smart Scholar scheme for parents of girl child to invest in market-linked instruments and grow a sizeable corpus. 

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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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Child Plans should form an essential component in your financial decision making. These plans can range from traditional savings-based child education plans, child ULIPs, or endowment plans. The ULIPs have a lot to offer in terms of growing your money and creating a decent corpus to fund your daughter’s education or other pursuits.

SBI Life features two child plans - one is a traditional child life insurance product called Smart Champ and the other is a ULIP product called Smart Scholar that parents can use as an investment plan for girl child. Let’s check out this SBI life investment plan for girl child in more detail.

Which SBI Investment Plan To Choose For Your Girl Child?

SBI Life has in its product offerings the SBI Life Smart Scholar plan which is a ULIP specifically designed for children. This product can help young girls realize their dreams and pursue their interests without facing any financial hassle. An important feature of this policy is its dual nature comprising of an insurance component and an investment component. The latter presents an opportunity for young parents to invest in the market and subsequently grow their savings. The acquired returns from market linked instruments can help finance your daughter’s education or their marriage.

About SBI Life Smart Scholar Plan

The SBI Life Smart Scholar is a unit-linked insurance plan (ULIP), wherein a part of the premiums is used for insurance and the other part is invested in equities, debts, bonds, etc., or a combination of all these. The returns generated through these investments are on the higher side as compared to traditional savings options such as FD, PPF, etc. given the risk involved. The risk of investment in such plans is completely borne by the investor. Should there be any market fluctuations, the investor (or the parent in this case) stands a chance to lose or gain money depending on the performance of the funds. However, if you constantly monitor the funds’ performance, you can detect the irregularities yourself and switch between funds accordingly.

Key Takeaways For The Girl Child

This SBI investment plan for girl child offers benefits of market-linked returns, loyalty additions, as well a premium waiver.

  1. Lock-in Period

    The money invested cannot be withdrawn for a period of 5 years. This ensures that the amount remains invested and continues generating returns for a minimum of 5 years.

  2. Premium Waiver

    If the parent dies within the specified policy term, SBI Life waives off future premiums payable. The fund value remains invested and continues accruing returns till the end of the policy term.

  3. Loyalty Additions

    Additional fund units will be allocated to the base fund on completing certain policy years within the policy term. For a policy term of 15 years, loyalty additions are made on completing the 9th, 12th, and 15 years. Likewise, for a policy term of 25 years, the additional units are added on the 10th, 13th, 16th, 19th, 22nd, and 25th years.

Benefits Offered To The Girl Child

Here’s what your child shall receive should any of the following events occur during the policy term.

  1. Death Benefit

    On the death of the life assured (the parent), a lump sum payout is made to the beneficiary (the girl child in this case). The amount is equal to the base sum assured or 105% of the premiums paid till the date of death, whichever is higher.

  2. Maturity Benefit

    The policyholder (the parent) receives a lump sum payout of the accumulated fund value on surviving till the end of the policy term. If the policyholder dies, the girl child receives the payout. In either case, the proceeds can be used to finance the needs of the girl child.

  3. In-built Accident Benefit

    The SBI Life Smart Scholar Plan is one of the best child investment plans given the built-in additional protection. The life assured and in turn, the girl child is protected against deaths or total disabilities arising out of an accident. This feature compensates the involved parties against loss of income.

Important Highlights For The Investor

Here’s why you as a parent should invest in this child investment plan by SBI Life.

  • You have the opportunity to invest in a combination of 9 funds, ranging from low-risk to high-risk.

  • You can withdraw some money from the fund value from the 6th year onwards to finance certain milestones in your daughter’s life.

  • You have the flexibility to switch between the funds per your changing investment needs or expected returns.

  • You can choose to redirect or change the percentage distribution of your premiums towards different funds once every year for free.

  • You can use the SBI Smart Scholar child plan calculator to estimate the premiums against the desired coverage before even buying the policy.

  • You are eligible for tax exemptions under the prevailing tax laws in the country.

Eligibility Criteria - SBI Smart Scholar Investment Plan

Criteria Minimum Maximum
Entry Age (Last Birthday) Parent - 18 years
Child – 0 years
Parent – 57 years
Child – 17 years
Maturity Age (Last Birthday) Parent – NA
Child – 18 years
Parent – 65 years
Child – 25 years
Policy Term (PT) in years 8 25
Premium Paying Term (PPT) in years Single pay Or 5-25 years
Premium Paying Frequency Yearly, half-yearly, quarterly, monthly
Yearly Premium Single pay – 75,000
PPT >=8 yrs.:
Yearly – 24,000
Half-yearly – 16,000
Quarterly – 10,000
Monthly – 4000
PPT 5-7 years:
Yearly – 50,000
Half-yearly – 25,000
Quarterly – 12,500
Monthly - 4500
No limit
Sum Assured Single Pay – 1.25 * Single Premium
Regular Pay – higher of (10*annual premium) or (0.5*term*annual premium) for ages <45 &
Higher of (7*annual Premium) or (0.25*term*annual premium) for ages>45 yrs.
Single Pay – 35Single premium for ages<45 yrs. & 1.25* Single premium for ages >45 yrs.
Regular Pay – 20* Annual premium

Why Should You Choose SBI Life Investment Plan For Girl Child?

The number one reason to invest in a child plan should be the flexibility in the features of the policy and funds available to you. With Smart Scholar, you are not just the policyholder once you buy it but have actual control over which funds to focus on and when and how. This keeps you in sync with the market performances which in turn helps you generate the returns required to reach the desired corpus. Moreover, your girl child is protected with the insurance cover under SBI Life Smart Scholar even if anything untoward were to happen to you. In such cases, your child won't have to worry about keeping the policy in force as the insurer waives off the future premiums payable.

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