It is a natural tendency of all parents to start worrying about their child's future the day he/she is born. In a true sense, they want their child to have the world at their feet. Guaranteed return plans for children can help a parent rest assured about financing the future of their child’s education, lifestyle, etc.
Read moreInsurer pays premium in case of loss of life of parent
Create wealth for child’s aspirations
Tax Free maturity amount+
12+ plans available
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*
Getting your child 'everything' that they desire may not seem plausible in today's inflation hit and economically slow environment. In fact, both parents' combined income may not be enough to fulfill their child’s heightened inclination for wants more than needs. Furthermore, one cannot rule out the high cost of living that is constantly rising.
On the back of what life may bring with it in the future, parents are looking for options that provide protection and income if something unexpected happens. People in such a scenario should consider a Guaranteed return plan/traditional insurance plan as one of the most efficient options to not only seek protection against unwanted events but also to gain an extra source of income for planned/unplanned future events so that they are not taken by surprise in times of adversity.
All Parents' concerns are similar; that they want protection for their children and their monetary security for future events.
All parents, therefore, must opt for a Guaranteed Return Plan. As the name suggests, a guaranteed return plan offers assured returns on your investment.
This type of plan is akin to the traditional insurance plans, where the premium is fixed at the beginning of the term, and the returns are also pre-decided.
This plan is not market-linked, which keeps one stress-free without the worry of fluctuating market performance.
Safety concerns of parents are met as they get to plan their child's future with the returns that they will receive.
The returns or guaranteed return would be a bonus along with the return of the premium amount paid and the sum assured.
Such kinds of plans are available at low premiums, and the term is from 10 years to 30 years.
People also read: Child Education Plan
The following table lists some of the insurance policies that you can explore for your children and get assured returns on the same.
Plan Name | Entry Age | Maximum Maturity Age | Minimum Annual Premium | Minimum Sum assured |
Aviva Young Scholar Secure | 21-50 years | 71 years | Rs 50,000/- | 10 times the annual premium |
Bajaj Allianz Young Assure | 18-50 years | 60 years | N/A | 10 times the Annualized premium |
Bharti AXA Life Child Advantage Plan | 18-55 years | 76 years | Depends on Minimum Sum Assured | Rs 25,000/- |
Birla Sun Life Insurance Vision Star Plus | 18-55 years | 75 years | N/A | Rs 1 Lakh |
Edelweiss Tokio Life EduSave | 18-45 years | 60 years | Rs 6,968/- | Rs 2.25 Lakh |
Future Generali Assured Education Plan | 21-50 years | 67 years | Rs 20,000/- | N/A |
The guaranteed plan will help you save money for your child's future expenses like their education, marriage, and many other events. Not to forget, this plan will offer a death benefit to the nominee in case of either of the parents' untimely demise. The child won't suffer as all his needs will be met. Some guaranteed plans give you the option to receive regular returns. You can choose to avail of the returns as per your planning of important events. Income through this plan is tax exempted as per current income tax laws. The premium can be paid monthly, quarterly, annually, and even on a single premium basis according to the company's policy terms.
*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
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Investment
Secure
06 Dec 2023
PNB Education Loan is a financial solution offered by Punjab06 Dec 2023
Axis Bank Education Loan is a tailored financial solution05 Dec 2023
ICICI Bank Education Loan is a financial solution tailored to05 Dec 2023
HDFC Bank offers a variety of education loans for both Indian05 Dec 2023
When it comes to pursuing higher education, the State Bank ofInsurance
Policybazaar Insurance Brokers Private Limited CIN: U74999HR2014PTC053454 Registered Office - Plot No.119, Sector - 44, Gurgaon - 122001, Haryana Tel no. : 0124-4218302 Email ID: enquiry@policybazaar.com
Policybazaar is registered as a Direct Broker | Registration No. 742, Registration Code No. IRDA/ DB 797/ 19, Valid till 09/06/2024, License category- Direct Broker (Life & General)
Visitors are hereby informed that their information submitted on the website may be shared with insurers.Product information is authentic and solely based on the information received from the insurers.
© Copyright 2008-2023 policybazaar.com. All Rights Reserved.