ICICI Prudential Child Plan

ICICI Pru Child Plan is a category of investment plan that is designed for the future of your child with a combination of investment and insurance benefits. With flexible premium payment options and a variety of investment funds to choose from, it aims to provide financial stability for your child's education, marriage, and other milestones.

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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

In-built life cover
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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What is the ICICI Pru Child Plan?

ICICI Pru Child Plan is not a single specific plan but rather a range of child insurance plans offered by ICICI Prudential Life Insurance. These plans are designed to help parents save for their child's future and provide financial protection in case of the parent's death or disability.

Features of ICICI Child Plan

  • Waiver of Future Premiums: If the parent passes away, future payments for the plan are waived, ensuring continued coverage for the child.

  • Maturity Benefit: When the plan matures, the child receives a lump sum for future needs like education or marriage.

  • Investment Options: Plans offer either potential for higher returns or guaranteed returns.

  • Premium Payment Options: Choose yearly, half-yearly, or monthly payments to fit your budget.

  • Unit-Linking Options: Invest in market-based funds for potentially higher returns, though with inherent risk.

  • Flexibility in Fund Selection: You can tailor your investment strategy for the market-linked funds as per your risk appetite.

Benefits of ICICI Child Education Plan

  • Death Benefit: If the parent dies, the plan provides a lump sum for the child's financial stability.

  • Tax Benefits: Premiums are tax-deductible, and payouts may be tax-free under specific conditions.

  • Riders: Add optional benefits like accidental death coverage or critical illness benefits.

  • Milestone Benefits: Extra payouts occur at specific stages in the child's life, such as educational milestones or adulthood.

List of ICICI Child Plans in 2024

ICICI Prudential offers a variety of child plans in 2024, each with its own unique features and benefits. Let us learn the details of ICICI Child Education Plans in the following table:

ICICI Pru Child Plan Entry Age Maximum Maturity Age Premium Payment Term (PPT) Policy Term (PT) Minimum Premium (in Rs.) Tax Benefits u/ IT Act, 1961
ICICI Pru Guaranteed Income for Tomorrow (GIFT) Lump Sum Pay: 18 (minus) PT to 60 years; 18 – 80 years
  • Lump Sum: One time; 5/6/7/8/10/12 years, or One-time;
Lump Sum: 10/12/15/16/20 years and 5/10/15 years for One-time; ₹50,000 p.a. Section 80C and Section 10(10D)
ICICI Pru Signature Plan 0 – 60 years 18 – 75 years
  • Limited: 5/7/10 years;
  • Regular: Same as PT
10 – 30 years ₹30,000 p.a. Section 80C and Section 10(10D)
ICICI Pru Smart Kid Plan 20 – 54 years 30 – 64 years Same as PT 10 – 25 years 20 – 49 Years Entry Age: ₹45,000 p.a. Section 80C and Section 10(10D)
Invest More Get More
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 *

People Also Read: ICICI Prudential Nifty Midcap 150 Index Fund

Details of ICICI Pru Child Plan

  1. ICICI Pru Guaranteed Income for Tomorrow (GIFT)

    ICICI Pru Guaranteed Income for Tomorrow (GIFT) is a non-linked, non-participating individual life insurance and investment plan offered by ICICI Prudential Life Insurance. It is a long-term plan that provides guaranteed income for a fixed period or for life, depending on the chosen plan option. It also provides life cover and tax benefits.

    Features of ICICI Guaranteed Income for Tomorrow (GIFT):

    • Guaranteed Income: You get a fixed amount of money either all at once or regularly, regardless of how the market performs.

    • Life Coverage: If you pass away during the policy duration, your chosen beneficiary receives a payout.

    • Tax Benefits: You can reduce your taxes by deducting the premiums under Section 80C. You also get tax benefits on the maturity amount under Section 10(10D). 

    • Policy Options: You can choose between two plans:

      • Income Plan: Pay premiums for a set time and receive guaranteed income for a specific period or for life.

      • Early Income Plan: Start getting income from the second year of the policy.

  2. ICICI Pru Signature Plan

    The ICICI Pru Signature Child Plan is a unit-linked insurance plan (ULIP) that provides both life cover and investment options for your child's future.

    Features of ICICI Pru Signature Plan:

    • Wealth Boosters: Wealth Boosters provided every 5 years starting from the 10th policy year.

    • Lifelong Policy Benefits: Policy benefits can be enjoyed until the age of 99 with the Whole Life policy term option.

    • Systematic Withdrawal Plan: Systematic Withdrawal Plan allows you to regularly withdraw money from your policy.

    • Return of Charges at Maturity: Return of Mortality and Policy Administration Charges upon maturity.

    Investment Investment
    Secure Secure
    Child Banner
    Secure your child’s future with or without you
    Start Investing
    & Get
    ₹1 Crore*
    *Standard T & C Apply
  3. ICICI Pru Smart Kid Plan

    The ICICI Pru Smart Kid Plan is a child savings plan offered by ICICI Prudential Life Insurance. It is a combination of a traditional savings plan and a life insurance policy that provides financial security for your child's future.

    Features of ICICI Pru Smart Kid Plan:

    • In case of the Life Assured's demise:

      • Receive a lump sum payment of Sum Assured to address immediate family liabilities.

      • Enjoy a waiver of all future premiums under the policy, ensuring uninterrupted savings towards your goal.

    • Portfolio Strategy Options:

      • Life Cycle based Portfolio Strategy 2: Tailored balance between equity and debt based on your age.

      • Fixed Portfolio Strategy: Allocate savings in diverse funds of your choice.

    • Premium Payment Flexibility: Pay once, for a limited period, or throughout the policy term.

    • Loyalty Benefits: Earn Loyalty Additions and Wealth Boosters for long-term loyalty.

People also read: Sukanya Samriddhi Yojana Calculator

Summing It Up

The ICICI Child Plan offers a comprehensive solution for securing a child's future, encompassing savings, insurance, and investment components. With its flexible features and tailored benefits, it stands as a reliable choice for parents seeking financial stability and growth for their children.

Child Education Insurance Plan by ICICI Prudential - FAQs

  • Which is the best plan for kids?

    The best plan for kids typically depends on your specific needs and goals. However, some popular options include Child Education Savings Plans, Child Investment Plans, and Child Insurance Plans. It is essential to consider factors like investment returns, flexibility, and the level of insurance coverage provided by each plan before making a decision.
  • Which life insurance is best for a child?

    Some of the popular child life insurance plans in India that consistently rank well include:
  • Which is the best plan for child investment?

    Following are some of the popular and well-regarded investment options for children:
  • What is the child plan of ICICI Bank?

    ICICI Bank offers the following child plans as per your financial planning:
    • Young Stars Savings Account

    • Smart Kid with ICICI Pru Smart Life

    • ICICI Pru Signature for Child

    • ICICI Pru Guaranteed Income for Tomorrow (ICICI Pru GIFT)

  • How can I pay premiums? What are the modes of payment available?

    To enjoy continuity of your policy benefits, it is critical to pay premiums on time. You can pay your ICICI Life Insurance premium through these 11 methods:
    • Net Banking
    • Credit card
    • Bill desk
    • Bank Website Debit Car+ ATM PIN
    • Debit Card
    • Bill junction
    • Infinity
    • E-collect
    • Rupay Debit Card
    • Skypark dropbox
    • MINC Drop Box
    For paying premiums online, you can log in to the e-portal of ICICI Prudential.
    • Step 1: Enter your policy details – policy number and policyholder’s date of birth
    • Step 2: Select your online bank account, debit/ credit card or use the NEFT facility to pay the premium
    • Step 3: Authenticate and confirm your payment details and receive an online confirmation
  • How can I check the policy status for ICICI Prudential child plans?

    You can check the policy status online, or opt for an SMS and e-mail reminder facility.
    You can check ICICI Prudential Life Insurance Policy Status Online as follows.
    • Open the ICICI Prudential Life Insurance website in your browser
    • On the top right side of this page, you will see the customer login section
    • Enter user ID and password to navigate through the process of checking the policy status
    Only registered users can access the portal, so you need to sign up for the service if you haven't yet.
  • What is the policy renewal process for ICICI Prudential child plans?

    Online Policy Renewal facility is available to all ICICI Life Insurance customers. The process is as follows;
    • Step 1: Login into the website with your Client ID and password.
    • Step 2: Select the policy due for renewal payment. Click Pay Renewal Premium Now
    • Step 3: Choose payment option- NEFT, Credit Card/Debit Card
    • Step 4: Authenticate and confirm your payment details and print out the payment receipt
  • What is the company's process to settle the claim for ICICI Prudential child plans?

    Step 1: Complete the claim form through -
    • Email - lifeline@iciciprufile[dot]com
    • Phone-Call a claim care
    • Online claim
    • From branch office
    Step 2: Form Evaluation
    • The Claim Care department examines the claim and if any essential documents are missing, the team immediately notifies the policyholder of the same. The team keeps the claimant up-to-date on the process via Emails and Letters.
    Step 3: Claims Processing
    • On receipt of all the essential documents, the Claims department processes the application within 12 calendar days, if no investigation is needed for checking the claim made.
    • For quick access to claim funds, ICICI Life Insurance transfers funds directly into the beneficiary's bank account.
    • In case of cashless hospitalization, you need to produce relevant medical bills and reports, issued by the attending physician.
    Upon completion of these documents, submit them to your nearest ICICI branch.
  • What is the policy cancellation process for the child education insurance plan offered by ICICI Prudential?

    You need to keep your policy for a minimum of 3 years before you can cancel it to enjoy surrender benefits. You need to fill a surrender form at any of the ICICI Prudential Life branches and submit your policy documents. The cancellation process will take 30 days to complete and the surrender value funds will be directly transferred to your bank account.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^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.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#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.

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Child Plan 2
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ICICI Prudential Child Plans Reviews & Ratings

4.4 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Ichalkaranji, March 31, 2021
Happy customer
I am one of the happiest customer of policybazaar as they provided with icici prudential child insurance policy at best prices. It has been a great coverage for me and my child. Great work.
Badlapur, March 30, 2021
Great coverage
My child has got a great coverage for his child insurance plan. It was brought from the website of the policybazaar and it was the plan of icici prudential. Such good plan from website of the policybazaar at low premium rates.
Katghodi, March 16, 2021
Future planning
I have already started thinking about the future of my child’s future. I want him to get the best education and that is the only reason I bought this icici prudential child insurance plan. Thanks policybazaar.
Azamgarh, March 09, 2021
Easy premiums
I bought this icici prudential life insurance plan from the policybazaar. It is easy to pay for the premium amount and I always make the payment online. I like policybazaar and icici prudential team.
Madhuban, October 10, 2016
Want to buy child insurance policy, go for icici prudential life insurance. Services are really good which is given by the entire members of the company. Online renewal make easy through online portal service. Policy coverage are good and claiming process is easy.
Dimapur, August 24, 2016
Child Insurance Plan
My child has safe future now because i buy him a child insurance plan from icici prudential life insurance. The insurance plan has full coverage and claiming is very simple because of good service given by the executives and staff members.
Nasik, April 15, 2016
I own icici prudential life child insurance policy plan which is an average one. The service is fast and the policy coverage is approx. 77%. The claims are okay but the claiming process is bit lengthy. Executives and staff members are doing great work with good response. Okay policy and good for tax saving. Good for middle class person.
Pilani, April 15, 2016
The best child policy plan i bought from icici prudential life insurance and the policy plan is awesome. The policy coverage is 84% and the claims are 41 L after policy get mature. The investment is low and the returns are high. Good future plan with tax protection. Service you provided is very quick and on time till now.
Firozabad, April 15, 2016
Service Is Bit Slow
I had child policy plan for my child through icici prudential life insurance child plan. The policy is nice, Good policy coverage ~89% and claiming amount is Rs.43 L after policy get mature. But the service is bit slow, please improve it. And the behaviour of the executives and staff members are nice. Good future investment with saving tax too.
Jalpaiguri, April 15, 2016
I found awesome child policy plan from icici prudential life insurance. The claim is high and the policy coverage is 91%. Service you provided is fast and very quick. Daily updates are mail and texted to me. The policy is good for future investment and it saves taxes also.
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