Max Life Child Plans

Max Life offers a variety of child plans to help secure your child's future and fulfill their educational and other needs. These plans combine the benefits of life insurance with investment options, providing financial protection and wealth creation for your child.

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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

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 are Child Plans?

Child plans are financial products designed to help parents save and invest money for their children's future needs, such as education, marriage, or other expenses. These plans typically offer a combination of investment and insurance components, providing a comprehensive financial solution for the child's future.

Max Life Child Plans

Max Life offers a variety of child plans to help you secure your child's future and meet their educational and other needs. Below are the plans offered by Max Life for children:

Max Life Shiksha Plus Super

Max Life Shiksha Plus Super is a child education Unit Linked Insurance Plan (ULIP) offered by Max Life Insurance. It is a Unit-Linked Non-Participating Individual Life Insurance Plan designed to provide comprehensive coverage for your child's education even if you're not around, while also offering investment options to help grow your savings for their future. 

Here are the features and benefits of the plan:

  • Policy Term Flexibility: Choose between a 10-year term or terms ranging from 15 to 25 years to match your child's educational needs.

  • Comprehensive Coverage: Get life insurance protection for yourself and guaranteed policy continuation for your child's education even in your absence.

  • Investment Choice: Invest in a range of funds, including Government Securities, Corporate Bonds, Money Market Instruments, and Equity, with 8 Fund Options to suit your risk appetite.

  • Investment Strategies: Leverage Max Life's expertise with their investment strategies to optimize your returns from both equity and debt funds.

  • Guaranteed Loyalty Additions: Receive additional units added to your fund value every year from the 11th policy year onwards.

  • Tax Benefits: Enjoy tax deductions on your premiums and potentially on policy proceeds as per prevailing tax laws.

Investment Investment
Secure Secure
Child Banner
Secure your child’s future with or without you
Start Investing
& Get
₹1 Crore*
*Standard T & C Apply

Death benefit payouts:

  • Lump sum: Highest of Sum Assured, 105% of paid premiums, or 0.5 times Policy Term times Annualized Premium.

  • Family Income Benefit: 10% of Sum Assured paid annually for up to 10 years after your death, starting on the next policy anniversary.

  • Funding of Future Premiums: Max Life covers all future premiums after your death, ensuring the policy continues and the fund value is paid at maturity.

  • Bonus: 0.20% annual Guaranteed Loyalty Additions starting from the 11th year, increasing by 0.02% every year thereafter.

Plan at Glance

Criteria Minimum Maximum
Entry Age 21 years 50 years
Maturity Age - For 5 pay: 60 years
For regular pay: 65 years
Premium Payment Term / Policy Term 5 Pay Variant: 10 year Policy Term
Regular Pay Variant: 15 to 25-year Policy Term (Policy Term is equal to the Premium Payment Term)
Minimum Annualised Premium 5 Pay: Rs. 50,000
Regular Pay-
Annual Mode: Rs. 25,000
Non-Annual Mode: Rs. 48,000
Maximum Annualised Premium No Limit
Sum Assured 10 times the Annualised Premium
Maximum Sum Assured No Limit
Minimum Sum Assured 5 Pay: Rs. 5,00,000
Regular Pay-
Annual Mode: Rs. 2,50,000
Non-Annual Mode: Rs. 4,80,000
Premium Paying Frequency Yearly, half-yearly, quarterly or monthly
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 *

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Max Life Future Genius Education Plan

The Max Life Future Genius Education Plan is a child education Unit Linked Insurance Plan (ULIP) offered by Max Life Insurance. It is a Non-Linked Participating Individual Life Insurance Savings Plan that aims to provide financial security for your child's education while offering investment opportunities to grow your savings for their future.

Riders available under this plan:

  • Max Life Term Plus Rider (UIN: 104B026V03)

  • Max Life Accidental Death & Dismemberment Rider (UIN: 104B027V03)

  • Max Life Waiver of Premium Plus Rider (UIN: 104B029V03)

Here are the features and benefits of this plan:

  • Financial Security: Life insurance coverage ensures funds for your child's education even if you're not around. The policy continues with no future premiums due.

  • Guaranteed Moneybacks: Receive 4 annual payouts totalling 25% of the Sum Assured in the last four years of the policy term, supporting key education expenses.

  • Investment Flexibility: Choose payment terms (8-year or Limited Pay) and policy terms (13-21 years) to align with your child's graduation year and your budgeting needs.

  • Bonus Options: Customize your returns with three options: Cash, Premium Offset (reduce future premiums), or Paid-up Additions (grow your fund value).

  • Tax Benefits: Enjoy tax deductions on your premiums as per prevailing tax laws.

  • Death Benefit: Immediate lump sum payout upon your passing, ensuring financial stability for your child's education.

  • Maturity Benefit: Receive the Paid-up Additions (accumulated bonus) at the end of the policy term.

  • PUA Withdrawal Option: Access accrued Paid-up Additions partially or fully for unforeseen needs.

  • Discounting and Deferment Options: Adjust money-back payments to match your child's future needs by discounting or deferring them.

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Plan at Glance

Age at Maturity Maximum entry age: 21 years
Maximum entry age: 45 years
Maximum maturity Age 66 years
Policy Term Pick any term from 13 years to 21 years
Premium Payment
Two Premium Payment Term options are available
1. 8 Pay variant  -  8 years or
2. Limited Pay variant -  Complete Policy Term minus 3 years
Premium Payment
You can choose from Annual, Semi-Annual, Quarterly and Monthly Premium Paying Modes.
Minimum Annual
For 8 Pay variant – Rs. 40,000
For Limited Pay variant (Policy Term less 3 years) – Rs. 20,000

Maximum Annual Premium No limit
Sum Assured (SA) Minimum: 8 Pay variant: Rs. 3,27,000
Limited Pay variant: Rs. 2,12,000
(subject to minimum premium limits)
Maximum: No limit, subject to limits determined in accordance with the Board-approved underwriting policy of the Company

How to Buy the Max Life Child Plans PolicyBazaar?

To buy a child plan from PolicyBazaar, follow these steps:

  • Visit the PolicyBazaar homepage and navigate to the "Personal" tab.

  • Click on "Child Plans" from the dropdown menu.

  • Fill out the lead form by providing your name and mobile number.

  • After filling out the lead form, click on the "View Plans" button.

  • Provide details such as your city, income, your age, and your child's age on the next page then click "Continue."

  • You will be directed to the quotes page, where you will find quotes from more than 10 insurers.

  • Next, choose the plan type based on the payment schedule – whether it's a one-time payout or a Monthly Payout Plan.

  • Select the plan that best suits your needs and click on "Get details". 

Following these steps will guide you through the process of purchasing a child plan from Policybazaar.

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Why Choose Child Plans?

  • Security: Child plans provide financial security for your child's future needs.

  • Savings: Encourage disciplined, long-term savings.

  • Investment & Insurance: Combine investment and insurance for comprehensive coverage.

  • Tax Benefits: Offer tax benefits under the Income Tax Act.

  • Maturity Benefits: Funds can be used for the child's education or other needs upon maturity.

  • Flexibility: Allow flexibility in premium payments, investments, and withdrawals.

Frequently Asked Questions

  • What is the difference between Shiksha Plus Super and Future Genius Education plans?

    Shiksha Plus Super emphasizes death benefits and policy continuance, while Future Genius Education features guaranteed moneybacks and bonus options.
  • What are the guaranteed benefits of the Child's Gain Plan?

    It offers guaranteed Sum Assured and Loyalty Additions, along with investment growth potential.
  • What documents are needed to purchase a Max Life Child Plan?

    Age proof, identity proof, address proof, and income proof are typically required.
  • Are there any tax benefits associated with Max Life Child Plans?

    Yes, premiums paid may be eligible for tax deductions under prevailing tax laws.
  • How to pay a premium? What are the modes of payment available?

    The Max Life Insurance company Ltd. offers 6 modes of premium payment namely:
    • Online Payment

    • ECS


    • IVR

    • Credit card Instructions

    • Direct Debit

    • EBPP

    • Payment at Axis Bank Branch

    • Payment at Axis Bank ATM

    • Your bank branch

    • Sky pack Drop boxes

    For the online payment mode, the policyholder can pay via:

    • Credit Card,

    • Debit Card

    • Net banking

  • How can I check policy status for Max Life child plans?

    Registered users can check policy status online. Login with your username and password on the LOGIN tab give on the company’s home page
  • What is the policy renewal process for Max Life child plans?

    For policy renewal online follow these 3 easy steps

    Step1: Enter your Client ID and Date of Birth to login into e-portal

    Step2: Enter the policy details and payment method (Debit/Credit Card or Net Banking)

    Step3: Save/print premium deposit receipt on successful payment intimation

    Alterantively, you can pay via cash/cheque at any of the nearest branch.

  • What is the company’s process to settle claim for Max Life child plans?

    For claim settlement the nominee can visit the nearest branch with all the policy documents and the revlant claims form. The claims are settled within 10 working days from collection of all necessary documents for claim settlement.
  • What is the policy cancellation process for Max Life child plans?

    For cancellation you need to visit the nearest branch in person with policy documents and surrender form. Upon successful proceedings, the refund will be directly apid in 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:-
#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.

Child Plan


Child Plan


Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan 2
Average Rating
(Based on 29 Reviews)

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Max Life Child Plans Reviews & Ratings

4.1 / 5 (Based on 29 Reviews)
(Showing Newest 10 reviews)
Maandhata, March 31, 2021
Various facilities available
I have availed various facilities when I bought a child plan for my 4 years old daughter. It is for her benefits. It will definitely her future goals and needs. I bought the max life insurance policy. Thanks team.
Perumbalur, March 30, 2021
Choose the best
I found various good plans into the website of the policybazaar and I bought the max life child insurance policy. I have chosen the best plan which has fulfilled my requirements and needs of my child. Great work.
Padubidri, March 16, 2021
Simple to buy
It is very simple to buy a max life child insurance plan from the policybazaar. I bought this plan 2 years ago and can see substantial increase into the same. A best and required plan. Kudos team.
Atabira, March 09, 2021
Fulfil the dream
My child’s dream would be fulfilled by taking the child plan. He wants to be a great scientist and have big dreams. I bought this plan because a lot of expensive education has taken place. But with the child plan it will be easy for me to secure his education. Thanks team and it was the plan of max life.
Howrah, October 14, 2016
Awesome Services
Now, the future of my child is secure with child insurance policy which i buy from max life insurance company. Service given by the staff of the company is fabulous and on time. Executives facilitate the service to customers 24X7.
Ahmednagar, August 24, 2016
Nice Insurance Plan
Max life child insurance plan is very good in coverage and paybacks. Service facilitated by you guys is fantastic. Policy premium is less and claiming is simple because of executives who provides each and every help.
Sitapur, July 26, 2016
Max child policy
Max child insurance policy i have purchase in very low premium. Policy has many benefits like it covers maximum expenditure which spend for my child in future, after the policy get mature. Claiming is simple and sanctioned easily. I must say service is fantastic.
Bikaner, July 11, 2016
Child Care
The child insurance policy i purchase for my girl is good. The future of her is secure now with this insurance policy. Huge rewards in less investment. Policy coverage and claims are high but the premium is less which is a good thing.
Alibag, June 29, 2016
Good Child Policy
My child insurance plan is superb which I bought for my child. The policy coverage is high and claims are better. Service is perfect provided by the company members. The online service is also good which is easily access by anyone.
Srinagar, April 20, 2016
Perfect Policy
Superb child policy plan which provided by max life insurance. The policy coverage is 93% and the claims are ~Rs.42 L after policy ends. The investment is ~Rs.18 K quarterly per year till policy end. Services are great and fast too. Great work guys. Good future investment with tax saving.
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