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. Furthermore, child plans in the form of ULIPs allow opportunities to significantly maximize your savings. Such child education plans act as one-time investment options that serve to address the different financial needs of a policyholder and his/her kids once the plan matures. 

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Investing in your child's future:A wise decision & a loving choice
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With the comprehensive benefits of child education plans along with wealth creation, can you think of a better deal to ensure a bright future for your child? This article features some of the best child education plans as one-time investment options*. Investing in one of these could prove to be the most sensible decision in financial planning for your child's future.

While the list may not be exhaustive, it should give you an understanding of the kind of child plans to invest in. Read along to make the best investment decision that will ensure a better tomorrow for your child.

How Is the Best Child Plan a One Time Investment?

Raising a child is not an easy task. With rising inflation, you must have good financial backup to save yourself from burning your pockets. Choosing a one-time investment plan for your child’s future will help ensure that they receive sufficient funds for each milestone of life. It is advised to purchase the best child education plan as a one-time investment that protects them after your demise and also creates enough capital to fund their educational pursuits. Potential buyers should invest in one at their earliest to let the power of compounding take effect and maximize their returns. 

Key Highlights

Today the Indian market is flooded with innovative child education plans as one-time investment options offering diverse features and benefits. The key to making the best choice is to make an informed decision timely. Choosing the best one-time investment child plan 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:

  • The child plans’ benefit amount should be sufficient for those individuals who have an unsteady cash flow and payouts manageable in the case of fortune received 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. There are, however, several child education plans that offer the benefit of periodic premium payments as well. 

  • The other highlight is in regards to the taxation benefit 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 education plans – one-time investment options 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 (Parent)
1 day to 15 years (Child)
 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 (Parent)
0 to 12 Years (Child)
71 years Death Benefit: Higher of (10 X Annualised Premium) or (105% of paid premiums)
Bajaj Allianz Lifelong Assure 10 to 55 years NA Minimum- Rs 1,00,000
Bharti AXA Life Child Advantage Plan Regular - 18 to 50 years
Limited - 18 to 55 years
Regular - 71 years
Limited - 76 years
Minimum - Rs 25,000
Canara HSBC Future Smart Plan 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+ Base: 0-50 years
Life Partner: 18-50 years
Child: 18-40 years 
Base: 18-70 years
Life Partner: 23-55 years
Child: 23-55 years 
Minimum: 7 x AP
Exide Life New Creating Life Insurance Plan 18 to 45 years 60 years NA
Future Generali Assured Education Plan 21 to 50 years (Parents)
0-10 years (Child)
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: 18 to 55 years
 For Aspiration- 18 to 75 years
For Academia and Career: 23 to 75 years
 Classic Waiver: 33 to 75 years
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 Minimum -
Entry age < 45 yrs: Higher of (10 X AP) OR (0.5 X Policy Term X AP)
Entry age >= 45 yrs:
Higher of (7 X AP) OR (0.25 X Policy Term X AP)
LIC’s 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
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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 *

How to Make the Best Child Education Plan a One Time Investment?

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 2023:

  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 education 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 premiums. In case your child's plan does not include this 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 premium benefit 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 have while buying a child's education plan.

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The Bottom Line

The journey of parenthood is not easy, but rather full of responsibilities where you must take care of your child and fulfill their needs. Choosing an adequate child plan as a one-time investment can assure the financial safety of your child even after your death. 

You can buy the best child insurance plan as a one-time investment option online, and compare the features, quotes, and make a wise decision to secure your child's prospects.

*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:-
^^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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