Best Child One Time Investment Plan

The child plan comes with the option of the single premium payment that provides the dual benefits of insurance and savings.

Is there any other better deal for the bright future of your child? Well, going with the best child plan one-time investment in 2020 will be the most sensible decision of this year.

In case you are still wondering, read this article and make the best investment decision for a better tomorrow of the child.

Why Best Child Plan One Time Investment?

Bringing up a child is not an easy task. With the rising inflation, one thing for sure is that you need to have good financial planning. Choosing the best child one-time investment plan ensures that the child receives sufficient finances at each important milestones of the life that would help to grow and finances are always taken of.  It is suggested to buy the best child plan one-time investment online and avail the maximum benefits.

Listed below are some of the key highlights of buying the best child plan one-time investment in 2020:

Today the Indian market is flooded with innovative child plans options offering diverse features and benefits. The key to making the best decision is taking an informed decision timely. While choosing the best child plan one-time investment ensures that it provides coverage and adequate benefits that gives wings to the dreams of the child. The following are some important pointers that should be considered by every parent while choosing the best child plan in 2020:

  • The child plans remain suitable for those individuals who have an unsteady cash flow or have simply received the fortune from a fount.
  • Another prime highlight of the plan is that the child plan premium is less when compared to any other regular premiums. This is so because the policy is bought in cash rather than making the prospective payments as instalments.
  • The dates of the future premium payment need not be remembered, which means that you will be spared from the peril of any non-payment, therefore, no massive charge.
  • The other highlight is in regards to the taxation wherein you obtain the advantage of Section 80C in the initial year for the single premium plan against any other regular plans.

The table below highlights the best child plans offered by various insurance companies in India:

Name of the Plans Entry Age Maturity Age (Maximum) Sum Assured
Aditya Birla Sun Life Child’s Future Assured Plan 18 years to 65 years 75 years Minimum- Rs 4,00,000
Aegon Life Rising Star Insurance Plan 18 years to 48 years  65 years Maximum- Less than 45 years of age-  18 times the of AP   More than 45 years of age- 10 times of the AP
Aviva Young Scholar Secure 21 years to 50 years 71 years NA
Bajaj Allianz Lifelong Assure 10 years to 55 years NA Minimum- Rs 1,00,000
Bharti AXA Life Child Advantage Plan Regular Pay- 18 years to 50 years   Limited Pay- 18 years to 55 years Regular Pay- 71 years   Limited Pay- 76 years Rs 25, 000
Canara HSBC Future Smart Plans 18 years to 60 years  NA Below 45 years of age- For 10,15 and 20 years policy term- 10x AP   25 years policy term- 12.5x AP   45 years of age and above- 7x AP
Edelweiss Tokio Life- Wealth Secure+ 18 years to 45 years NA Minimum- 7x AP
Exide Life New Creating Life Regular Pay 18 years to 45 years 60 years Minimum- Monthly- Rs 1,13,766   Yearly- Rs 1,23,995
Future Generali Assured Education Plan 21 years to 50 years 35 years to 67 years NA
HDFC Life YoungStar Udaan Classic- For Aspiration and Academia- 30 days to 60 years   For Career- 8 years to 60 years   Classic Waiver – All the Options- 18 years to 55 years Classic- For Aspiration- 18 years to 75 years   For Academia and Career – 23 years to 75 years   Classic Waiver – All the Options- 33 years to 75 years NA
ICICI Prudential SmartKid Solution 20 years to 54 years  30 years to 64 years 7x AP
IDBI Federal Life Insurance Dream Builder Plan 21 years to 50 years 31 years to 72 years Rs 2,15,000
IndiaFirst Life Little Champ Plan 21 years to 45 years For 7-12 years- 65 years For 13-14 years- 70 years For 7 to 9 years- Rs 1,50,000   For 10 to 14 years- Rs 2,00,000
Kotak Headstart Child Assure 18 years to 60 years 28 years to 70 years Less than 45 Years of Age: 10x AP   0.5 x Policy Tenure x AP   More than 45 Years of Age- 7x AP   0.5 x Policy Tenure x AP   Maximum- 25x AP
LIC – New Children’s Money Back Plan 0 years to 12 years  25 years Rs 1,00,000
Max Life Future Genius Education Plan 21 years to 45 years 66 years For 8 pay Variant- Rs 40,000   For Limited Pay Variant-  Rs 20,000
PNB MetLife Smart Platinum 7 years- 70 years NA NA
Pramerica Life Rakshak Gold For 12 years of Policy Term- 18 years to 53 years   For 15 years of Policy Term- 18 years to 50 years   For 18 years of Policy Term- 18 years to 47 years  65 years Rs 75,000
Reliance Child Plan 20 years to 60 years 30 years to 60 years NA
Sahara Ankur Child Plan 0 years to 13 years 25 years to 40 years Life Assured for 10 years and Below- Rs 15 lakh   Life Assured for 11 years and above- Rs 24.75 lakh
SBI Life – Smart Scholar 18 years to 57 years 18 years to 65 years   Limited Premium- 10 x AP   Single-Premium- 1.25x  Single Premium
Shriram Life New Shri Vidya 18 years to 50 years 28 years to 70 years Rs 1,00,000
SUD Life Aashirwaad 18 years to 50 years 70 years NA
TATA AIA Life Insurance Super Achiever 25 years to 50 years 70 years 10x AP

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

How to Choose the Best Child Plan One Time Investment?

In today's times, having the correct child plan in place is extremely important. The best child plan offers substantial returns and financial coverage that enables your child to fly high and come out with colours of success.

Today the Indian market is flooded with innovative child plans options offering diverse features and benefits. The key to making the best decision is taking an informed decision timely. While choosing the best child plan one-time investment ensures that it provides coverage and adequate benefits that gives wings to the dreams of the child. The following are some important pointers that should be considered by every parent while choosing the best child plan in 2020:

  • Take the Decision Timely: It is prudent to act as early as possible. This is necessary as when you take a timely decision it permits you the benefit of making the prospective years economically even more productive. Besides, timely decision works in your favour and gives you ample time to build and then retain as well with adequate coverage as your child will be ready for advance education.
  • Inflation into Account: When choosing the best child plan one-time investment make sure that you select a sum assured for the guaranteed protection. In case you do not take into account the aspect of inflation, most likely the accumulated corpus will not be sufficient for tomorrow. It is a well-known fact that education expenses have risen tremendously and this is going to be in the coming times as well. Henceforth, the sum assured decided by you should be inclusive of projected inflation for the coming years.
  • Waiver of Premium: Most of the child insurance companies generally offer this option of waiver of premium. In case your child plan does not include this make sure that you avail this feature. The option of waiver of premium ensures that in case the policyholder passes away, the nominee in a child plan it is the child receives the waiver of the premiums existing. This is important as the funds that are meant for the better future of the child and meeting the needs are retained and sum assured is payable to the nominee upon the maturity of the child policy term.
  • The Option of Partial Withdrawal: We live in a world that is full of uncertainties, and therefore is of utmost importance that we are financially prepared for any mishap at any point in time. Therefore, choose the best child plan one-time investment, which offers the feature of partial withdrawals as this will act as the safety cushion in case an emergency fund is required. It is good to be safe than sorry.

The Bottom Line

The journey of parenthood is not easy rather is full of responsibilities. Yes, parenthood is indeed the most beautiful journey as the world encompasses around the little bundle of joy. However, it adds on to your baggage of responsibilities to take care and fulfil the needs of the child.

Make the timely decision of going ahead with the best child plan one-time investment plan and be assured that the bright future of the child is financially secured. As it is about the future of your little one, invest your time and buy the child plan that fulfils your requirements. A little saving is never a bad idea to buy the best child insurance plan online, compare the features and quotes and, take the wise decision for the fruitful future of the child.

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