Reliance Life Child Plans

Reliance Life Child Plans are investment products offered by Reliance Life Insurance Company specifically aimed at securing a child's financial future. These plans provide a combination of insurance and investment benefits to help parents save and invest for their child's education, marriage, and other important milestones in life.

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 Benefit

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

Investment Will Continue With Or Without You

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

Your Name

+91

Mobile Number

Your personal information is secure with us

By clicking on "View Plans" you agree to our Privacy Policy and Terms of use

Get Updates on WhatsApp

We are rated⁺⁺

9.7 Crore

Registered Consumer

Insurance Partners

4.9 Crore

Policies Sold

What are Child Plans?

Child plans are specialised investment products designed to secure a child's future financial needs. These plans offer a combination of insurance and investment components to provide financial protection and growth opportunities for the child. Child plans include features such as premium waivers in case of the parent's demise, ensuring that the child's financial goals are not compromised. They are structured to provide benefits like education funding, marriage expenses, or any other future financial requirements essential for the child's well-being.

Reliance Child Plan

Reliance offers several child plans to meet the different needs of individuals. Below are the plans offered:

Reliance Nippon Life Milestone Plan

The Reliance Nippon Life Milestone Plan is a non-linked, participating, individual savings life insurance plan. This means it combines saving and life insurance benefits, offering a lump sum payout at maturity alongside life cover for your loved ones.

Here are the key features and benefits of the plan:

Financial Goals:
- Lump Sum Payout at Maturity: Achieve your long-term financial goals, like a comfortable retirement or a child's education, with a guaranteed lump sum amount at the end of the policy term.
Child's Education:
- Secure your child's future: Use the maturity payout to fund your child's education expenses, ensuring they have the resources they need to succeed.
Life Cover:
- Peace of mind for your family: In case of an unfortunate event, your loved ones receive a death benefit, providing them with financial stability during a difficult time.
Tax Benefits:
- Tax-free returns: The maturity benefit and death benefit are potentially tax-free*, helping you maximise your returns.
Retirement Planning:
- Settlement Option for regular income: Choose the settlement option at maturity to convert your lump sum into a regular income stream, providing financial security during your retirement years.
People also read: Sukanya Samriddhi Yojana

Reliance Nippon Life Guaranteed Money Back Plan

Reliance Nippon Life Guaranteed Money Back Plan is a non-linked, non-participating, individual savings life insurance plan designed to offer both savings and protection for you and your family.

Here are the key features and benefits of the plan:

Savings and Liquidity:

Guaranteed Money Back: Receive regular payouts as a percentage of the sum assured during the last 5 years of the policy, regardless of your survival.
Guaranteed Loyalty Additions: Earn guaranteed bonuses of up to 40% of the base sum assured over the policy term.
Guaranteed Maturity Addition: Get an additional bonus of up to 20% of the base sum assured upon policy maturity.

Protection for your family:

Life Cover: The plan offers a minimum life cover of 10 times the annualized premium throughout the policy term.
Accidental Death Benefit: In case of accidental death, your family receives an additional sum assured equal to the base sum assured.
Premium Waiver: If you pass away, all future premiums are waived, and your family continues to receive guaranteed benefits.

Tax Benefits:

Enjoy tax benefits on your investment and returns as per applicable income tax laws.

Flexibility:

Choose your policy term: 15 or 20 years.
Opt for either regular or limited premium payment options.

Plan at Glance

Criteria	Minimum	Maximum
Entry Age	18 years	58 years
Maturity Age	33 years	75 years
Policy Term	15 years	20 years
Base Sum Assured	₹1,00,000	No Limit
Premium Payment Options	Limited Pay/Regular Pay
Premium Payment Frequency	Yearly, Half Yearly, Quarterly and 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 *

People also read: Sukanya Samriddhi Yojana Calculator

How to Buy Child Plans Through 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.

Reliance Life Child Plans - FAQ

What are the benefits of these plans?
Both plans offer:
- Sum assured: Paid upon maturity or death of the life assured (parent/guardian).
- Tax benefits: Premiums qualify for tax deductions, and maturity proceeds may be tax-free.
- Riders: Optional add-ons for additional coverage (e.g., premium waiver).
What are the key differences between the plans?
- Investment type: The Reliance Child Plan is guaranteed, while the Milestone Plan is market-linked.
- Flexibility: Milestone Plan offers investment choices and milestone payouts.
- Returns: The Milestone Plan has the potential for higher returns but carries market risk.
How do I choose the right plan for my child?

Consider your child's age, future needs, budget, risk tolerance, and desired benefits. Consulting a financial advisor is recommended.
How to pay premium? What are the modes of payment available?
RELIANCE LIFE Insurance offers basic 4 modes of premium payment. They are as follows:
- Online- Requires you to login through your client Id and password, select the online medium to pay the premium.
- IVR method- Call on the toll free number 1800 3000 8181 and follow the instructions. Keep handy details of policy number and date of birth.
- Pay at Suvidha Center- This helps to locate the nearest branch office wherein payment can be done via cheque,
- Bill Junction or Bill Desk option- This requires registering oneself in the site and clicking on the Pay Reliance Life Insurance option to authorize the payment.
For online payment mode, the policyholder can pay via;
- Credit Card
- Debit Card
- Netbanking facility
One can also avail Electronic Clearance System (ECS) for paying premium of renewed policies.
How can I check policy status for Reliance Life Child Plans?

For checking the policy you must register first on e-portal. After generating the password, login to your account. Then click on the ‘Policy Details’ tab to get the status of the desired policy number.
What is the policy renewal process for Reliance Life Child Plans?
Renewal of policy can be done by two modes:
- Online
- Electronic Clearance System(ECS)
For Online renewal process, login to your account and click on the required renewal tab after selecting the payment mode. Payment can be done via cheque or through net banking.

For renewing the policies using Credit Card Mode, fill in the required mandatory form along with photocopy of Credit card. Within a period of 10 days, the credit card information will be registered for renewal process.

ECS facility can be availed by filling in the desired form and submitting the required documents. The bank will process the information within 30 days of receipt of the same. In case the premium renewal date falls on a holiday, the amount will be debited on the next working day.
What is the company’s process to settle claim for Reliance Life Child Plans?

The company guarantees 12-day claims settlement policy. You must attach the correct documents with the claims form and send it to the nearest branch office in your city. To find the relevant documents for the particular claim, please visit the Claims Overview Section.
After receiving the particular documents and completion of the verification process, the cheque will be dispatched to the nearest branch within 3 working days. From there one can collect the cheque after verifying the identity proof.
What is the policy cancellation process for Reliance Life Child Plans?

The policy cancellation process requires the customer to submit a duly filled surrender form along with relevant documents in any branch. Upon receiving and verification of the documents, the policy is deemed cancelled as per bank accounts record.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶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 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.

Insurers Offering Child Plans

Tata AIA

Aditya Birla Sun Life

Bajaj Allianz

Axis Max Life

HDFC Life

ICICI Prudential

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

PNB MetLife

SBI Life

Aviva

Bandhan Life

Canara HSBC

IDBI Federal

IndiaFirst

Pramerica Life

Sahara Life

Shriram Life

Star Union

View more insurers

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Average Rating

4.1 / 5

(Based on 21 Reviews)

Write a Review

Calculators

Show More Calculator

Child plans articles

Reliance Life Child Plans Reviews & Ratings

4.1 / 5 (Based on 21 Reviews)

(Showing Newest 10 reviews)

Omesh

Bangalore, January 16, 2025

★★★★★

Damn Good

I purchase reliance life child plan. The policy coverage is 88% and the claims are good with low premiums. Service you provided is very quick and the behaviour of the executives and staff members is nice. Good future investment and it reduces taxes also. Nice policy plan.

Pariniti

Palwal, January 16, 2025

★★★★★

Great Deal

I had reliance life child policy plan for my child. The policy is nice, Good policy coverage ~93% and claiming amount is Rs.44 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.

Karan

Dhampur, January 16, 2025

★★★★★

Reliance child plan

The child insurance policy which i have buy for my son is very good with many benefits. Reliance life insurance provides the best services which is fast and on time. Perfect claiming process and coverage is high approx. 90%.

Jiten

Ghaziabad, January 16, 2025

★★★★★

Excellent Policy

I found awesome child policy plan and i buy it from reliance life insurance. The claim is high and the policy coverage is 92%. 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.

Apoorva

Purwa, January 16, 2025

★★★★★

Superb Policy

The best child policy plan i bought from reliance life insurance and the policy plan is awesome. The policy coverage is 93% and the claims are 39 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.

Sandeep

Jarmundi, January 16, 2025

★★★★★

Perfect Plan

I purchase reliance life child plan and i took the policy plan. Policy coverage is good 89% and the payback amount is 37 L when policy ends. Claims are easily get due to great services facilitate by executives of the company. Nice future investment and it saves taxes also.

Faisal

Thrissur, January 16, 2025

★★★★★

Nice Child Plan

I purchase child policy plan by reliance life insurance. Policy coverage is 92% and the claims are high. Premium is low and the services are fast and with great response from executives and staff members of the company. Good future investment and it saves taxes too. I'm happy with my policy plan.

Kunal

Delhi, January 16, 2025

★★★★★

Awesome Policy

The best child policy plan i bought from reliance life insurance and the policy plan is awesome. The policy coverage is 93% and the claims are 44 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.

Tushar

Honnali, January 16, 2025

★★★★★

Really Nice Plan

I own child policy plan which i buy from reliance life insurance. Policy have various benefits but the policy coverage is the best ~93% is covered in the policy. Claims are high and the premiums are low. Service is good. Nice future investment which saves tax also.

Lokesh

Dankaur, January 16, 2025

★★★★★

Normal Plan

I purchase child policy plan by reliance life insurance. Policy coverage is 91% and the claims are high. Premium is low and the services are fast and with great response from executives and staff members of the company. Good future investment and it saves taxes too.

Write a Review

Read All Reviews