Best Child One Time Investment Plan

A 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 2021 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 for your child.

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Best Investment Plans
  • Insurer pays your premiums in your absence

  • Save ₹10k/month and your child gets ₹1 Cr tax free*

  • Save upto ₹46,800 in tax under Section 80(C)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

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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Why Is the Best Child Plan A One Time Investment?

Raising a child is not an easy task. With the rising inflation, you must have good financial backup to save your pockets from burning. Choosing the one-time investment plan for your child’s future will help ensure that they receive sufficient funds for each milestone of life. It is suggested to buy the best child plan one-time investment online at the earliest to avail of the maximum benefits.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Key Highlights

Today the Indian market is flooded with innovative child plans offering diverse features and benefits. The key to making the best decision is to make an informed decision timely. Choosing the best child plan one-time investment ensures that it provides coverage and adequate benefits that give wings to your child's dreams. 

The following are some important points you must consider while choosing a child plan in 2021:

  • The child plans remain suitable for those individuals who have an unsteady cash flow or received the fortune from a fount.
  • The child plan premium is less when compared to any other regular policy premiums. This is so because the policy is bought in cash rather than making the prospective payments as installments.
  • 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 regular plans.

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

Name of the Plan Entry Age Maturity Age (Maximum) Sum Assured
Aditya Birla Sun Life Child’s Future Assured Plan 18 to 65 years 75 years Minimum- Rs 4,00,000
Aegon Life Rising Star Insurance Plan 18 to 48 years  65 years Maximum Cover:  For age less than 45 years -  18 x Annualised Premium    For age above 45 years - 10 x Annualised Premium
Aviva Young Scholar Secure 21 to 50 years 71 years NA
Bajaj Allianz Lifelong Assure 10 to 55 years NA Minimum- Rs 1,00,000
Bharti AXA Life Child Advantage Plan Regular Pay- 18 to 50 years Limited Pay- 18 to 55 years Regular Pay- 71 years Limited Pay- 76 years Minimum - Rs 25, 000
Canara HSBC Future Smart Plans 18 to 60 years (child must be below 18 years of age)  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 to 45 years  NA Minimum- 7x AP
Exide Life New Creating Life Insurance Plan 18 to 45 years 60 years NA
Future Generali Assured Education Plan 21 to 50 years 67 years NA
HDFC Life YoungStar Udaan Classic: For Aspiration - 30 days to 60 years  For Academia and career - 8 to 60 years   Classic Waiver: All options- 18 to 55 years Classic: For Aspiration- 18 years to 75 years   For Academia and Career: 23 years to 75 years   Classic Waiver: All options- 33 years to 75 years NA
ICICI Prudential SmartKid Solution 20 to 54 years 64 years 7x AP
IDBI Federal Life Insurance Dream Builder Plan 21 to 50 years 72 years Rs 2,15,000
IndiaFirst Life Little Champ Plan 21 to 45 years For 7-12 years: 65 years  For 13-14 years: 70 years Minimum - Rs 1,50,000
Kotak Headstart Child Assure 18 to 60 years 70 years NA
LIC – New Children’s Money Back Plan 0 to 12 years  25 years Minimum - Rs 1,00,000
Max Life Future Genius Education Plan 21 to 45 years 66 years For 8 pay Variant- Rs 3,27,000 (min.) For Limited Pay Variant-  Rs 2, 12,000 (min.)
PNB MetLife Smart Platinum 7 to 70 years NA NA
Pramerica Life Rakshak Gold 18 to 60 years  65 years Rs 75,000
Reliance Child Plan 21 to 55 years 65 years Rs 50,000
Sahara Ankur Child Plan 0 to 13 years 40 years For 10 years and below- Rs 15 lakh    For 11 years and above - Rs 24.75 lakh
SBI Life – Smart Scholar 18 to 57 years 65 years   Limited Premium- 10 x AP    Single-Premium- 1.25x  Premium
Shriram Life New Shri Vidya 18 to 50 years 70 years Rs 1,00,000
SUD Life Aashirwaad 18 to 50 years 70 years Rs 4,00,000
TATA AIA Life Insurance Super Achiever 25 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.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

How to Choose the Best Child Plan One Time Investment Plan?

The key is to make an informed decision timely to reap the best benefits. The one-time investment child plans ensure that it provides adequate coverage that gives wings to the dreams of your child. 

The following are some important pointers that every parent must consider while choosing the child plan in 2021:

  1. Take the Decision Timely

    It is prudent to act as early as possible. A timely decision works in your favor and helps you retain adequate coverage until your child is ready for higher education. Moreover, an unsaid rule in the insurance industry states that the earlier you buy insurance, the lower the premium rates are.

  2. Beat the Inflation

    When choosing a one-time investment child plan, make sure that you select an adequate sum assured for guaranteed protection. In case it does not happen, the accumulated corpus may not be sufficient for the days of high inflation. The sum assured decided by you should be inclusive of projected inflation for the coming years.

  3. Waiver of Premium

    Most child insurance companies generally offer the option of waiver of premium. In case your child's plan does not include the feature, you can add it as a rider option. It ensures that if the policyholder passes away, the nominee or child receives the waiver of the premium benefits along with the sum assured. 

  4. Option of Partial Withdrawal

    The partial withdrawal feature act as the safety cushion in case an emergency fund is required. You can get in touch with your insurance company to claim this offer during times of need. It is a crucial feature to add while buying a child plan.

The Bottom Line

The journey of parenthood is not easy rather full of responsibilities where you must take care of your child and fulfill the needs. Choosing an adequate child plan with a one-time investment can assure the financial safety of your child. As it is said, a little saving is never a bad idea.

You can buy the best child insurance plan online, compare the features, quotes, and make a wise decision for the fruitful future of the child.

Written By: PolicyBazaar - Updated: 28 September 2021

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