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.
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)
Nothing Is More Important Than Securing Your Child's Future
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
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.
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 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.
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:
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.
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.
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.
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 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.
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