TATA AIA Child Plans

What are Child Plans?

Child plans are financial products designed to help parents or guardians save and invest money for their children's future needs. These plans offer a combination of savings and insurance benefits aimed at securing a child's future education, marriage, or other significant life events.

• Savings Component: Child plans allow parents to save money regularly over a specified period, which accumulates to meet future financial needs such as education expenses or marriage costs.

• Insurance Protection: Many child plans also provide life insurance coverage for the parent or guardian who is the policyholder. This ensures financial security for the child in case of any unforeseen events that may affect the earning capacity of the parent or guardian.

List of TATA AIA Child Plans

Below is the list of investment plans provided by TATA AIA for children: 

1. Tata AIA Fortune Guarantee Plus 

   • Type: Non-Linked, Non-Participating, Individual Life Insurance Savings Plan

   Key Features:

   • Guaranteed returns: Provides a fixed percentage of the paid premium as guaranteed annual income after maturity for a chosen income period, regardless of the policyholder's survival.

   • Life insurance cover: Offers financial protection to your family in case of your unfortunate demise.

   • Income options: Choose between regular income or regular income with an inbuilt critical illness benefit.

   • Flexible payment terms: Pay premiums as per your convenience in monthly instalments or one-time payments.

   • Income term options: Choose an income term ranging from 20 to 45 years.

   • Benefits: Guaranteed income stream, life insurance cover, tax benefits (under applicable tax laws) and optional rider benefits. 

   • Suitable for: Individuals seeking guaranteed returns and income generation along with life insurance for their family.

   Plan at Glance: 

   Criteria	Regular Income	Regular Income with an Inbuilt Critical Illness Benefit
   Minimum Entry Age	1 years	18 years
   Maximum Entry Age	60 years	60 years
   Minimum Age at Maturity	18 years	23 years
   Maximum Age at Maturity	77 years	70 years
   Income Period	20 to 45 years (in multiples of 5 years). The Policy Term + Income period is within the range of 25 years to 50 years	30 years for 5 pay and 25 years for 10 pay
   Mode of Payment	Annually & Monthly	Annually & Monthly
   Coverage	Single Life & Joint Life (Joint Life for Single Pay option only)	Single Life & Joint Life (Joint Life for Single Pay option only)
   Minimum Premium	Single Pay- ₹5,000 Limited Pay / Regular Pay- ₹24,000 p.a.	Single Pay - ₹5,000 Limited Pay / Regular Pay – ₹24,000 p.a.
   Maximum Premium	No Limit	No Limit

   Investment

   Secure

   

   Secure your child’s future with or without you

   Start Investing

   ₹10,000/Month

   & Get

   ₹1 Crore^*

   VIEW PLANS

   *Standard T & C Apply

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2. Tata AIA Guaranteed Return Insurance Plan

   • Type: Individual, Non-Linked, Non-Participating, Life Insurance Savings Plan.

   Key Features:

   • Guaranteed Returns: Provides a fixed percentage of paid premiums as guaranteed annual income after maturity for a chosen income period, regardless of the policyholder's survival.

   • Life Insurance Cover: Offers financial protection to your family in case of your unfortunate demise during the policy term.

   • Flexible Plan Options: Choose between Endowment (lump sum maturity benefit), Regular Income, or Whole Life Income options.

   • Guaranteed Additions: Under the Endowment option, guaranteed additions accumulate each year, enhancing the total maturity benefit.

   • Flexible Premium Payment Terms: Pay premiums in Single Pay, Limited Pay, or Regular Pay modes with annual, half-yearly, quarterly, or monthly frequencies.

   • Flexible Income Period: Choose an income period ranging from 20 to 45 years under Regular Income options.

   • Joint Life Coverage: Option to cover your spouse under the Whole Life Income plan.

   • Optional Riders: Enhance protection with optional riders like Accidental Death & Dismemberment, Waiver of Premium, Comprehensive Health, and Critical Illness riders.

   • Suitable: This plan is suitable for individuals seeking a life insurance plan that combines guaranteed returns with regular income options and life protection, making it ideal for medium- to long-term financial goals such as education, marriage, or retirement planning.

   Plan at Glance: 

   Criteria	Option 1: Endowment	Option 2: Regular Income	Option 3: Whole Life Income
   Premium Payment Term (PPT)	Single Pay (5-12 yrs) Limited/Regular Pay (5-12 yrs)	Single Pay (5-12 yrs) Limited/Regular Pay (5-12 yrs)	Single Pay (5-12 yrs) Limited/Regular Pay (5-12 yrs)
   Policy Term	5 to 12 years	5 to 13 years	5 to 12 years
   Minimum Entry Age	1 year (subject to min. maturity age 18 years)	18 years	45 years
   Maximum Entry Age	50 to 65 years depending on PPT and Policy Term	50 to 60 years depending on PPT and Policy Term	55 to 65 years depending on PPT and Policy Term
   Minimum Age at Maturity	18 years	23 years	18 years
   Maximum Age at Maturity	77 years (or lower of max age entry + policy term)	70 years (or lower of max age entry + policy term)	Lower of (max age entry + policy term) or 85 years
   Single/Joint Life	Single Life (Joint life only for Single Pay option)	Single Life (Joint life only for Single Pay option)	Single or Joint Life
   Basic Sum Assured	Minimum ₹24,000 p.a. Max. subject to underwriting limits	Minimum ₹24,000 p.a. Max. subject to underwriting limits	Minimum ₹24,000 p.a. Max. subject to underwriting limits
   Premium	Multiples of ₹1,000 No max limit subject to underwriting	Multiples of ₹1,000 No max limit subject to underwriting	Multiples of ₹1,000 No max limit subject to underwriting
   Premium Payment Modes	Single, Annual, Half-yearly, Quarterly, Monthly	Single, Annual, Half-yearly, Quarterly, Monthly	Single, Annual, Half-yearly, Quarterly, Monthly
   PoS Boundary Conditions	Maximum entry age may be lower for certain PPT/Policy Terms	Maximum entry age may be lower for certain PPT/Policy Terms	Maximum entry age may be lower for certain PPT/Policy Terms

   • All ages are as per last birthday.

   • Entry age and policy terms vary based on plan options and chosen premium payment term.

   • Joint life option limited to Single Pay only in Option 1 & 2.

Why Choose Child Plans?

Child plans are specifically designed financial products that offer a combination of insurance and investment benefits modified to meet the future financial needs of a child. 

• Financial Protection: Ensures financial security for children in case of unexpected events.

• Long-term Savings: Helps in disciplined saving for future needs like education or marriage.

• Tax Benefits: Offers tax advantages on premiums and maturity proceeds.

• Flexible Options: Allows customisation based on financial goals and risk tolerance.

• Discipline and Commitment: Encourages regular savings and financial planning.

• Peace of Mind: Provides assurance that children's future needs will be met.

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Applying For 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 the lead form by providing your name and mobile number.

• After filling out the lead form, click 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 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.

Conclusion 

TATA AIA Child Plans offer a comprehensive solution for parents seeking to secure their children's future financial needs. By choosing TATA AIA Child Plans, parents can ensure a stable financial foundation that nurtures their children's dreams and aspirations, providing a pathway to a secure and prosperous future.