Benefits of having a child insurance plan

A child is the greatest blessing of a family and its protection is your number 1 priority since day one. From inculcating good education and high values in them to taking care and nurturing them at every stage in life, parenting comes with a bundle of roles and responsibilities.

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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

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  • 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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But the most important responsibility of yours towards your child is protecting their future and it can be done by investing in a good child insurance plan. A child insurance plan provides a security net for your child even if unfortunately something happens to you and you are not around.

Key benefits of child plan

Here are some reasons why you should consider a child insurance plan and how it will benefit the future of your child.

Waiver of premium benefits

Child insurance plan like other life insurance plans provides full coverage to dependents. The child plan comes with a waiver of premium rider. This means that in case of the death of the parent, all the future premiums will be waived off and the remaining dues will be paid by the insurance company. So, no matter what happens to you in the future, your child is entitled to an amount assured by the company.

Tax benefits

Child plan offers tax benefits to the policyholder under section 80C of Income Tax Act 1961. You can save a lump-sum amount on your total income which makes it a good investment deal as well.

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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 *

Investment + insurance benefits

A child plan provides dual benefits. It not only ensures the future of your child but also is a great plan from an investment point of view. With partial withdrawals, the child plan helps your child at every stage in life. Be it higher studies or marriage, a child insurance plan is the most viable option for your child’s secure future.

Protection against serious illness benefits

A child plan is the best investment plan for the protection of your child if any serious illness trait runs in your family. Get this insurance at your child’s early age when he is absolutely fine and if later god forbids him falls prey to the disease then the money invested in the child plan would be a big saving grace.

Present and future needs benefits

Child plan covers immediate as well as future needs of your child. It provides money to help the family meet regular day to day expenses related to school education and the plan also provides money for higher education or marriage or any other major expense.

Death of parent benefit

In case of your untimely demise, the company offers a waiver on the premium of the child plan and the beneficiary gets a lump-sum amount. The beneficiary is also no longer required to pay the premium of the policy.

Thus, a child insurance plan has a lot of benefits, not only related to your child but also in terms of future investments. Offering a wide range of benefits, a child plan makes sure that your child is never deprived of any kind of basic needs even after you are no longer there to look after your child. A great plan that secures your child future, a child plan is your child’s future saving.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. 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.
#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.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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