Being a parent is one of the joyous moments of your life, but it comes with a lot of responsibilities as well. Looking after your child and nurturing him/her becomes your motto of life. This requires thoughtful planning so that you can fulfill all the financial needs of your child at various stages of his/her life. Undoubtedly, proper financial planning requires a lot of hard work and SBI Life understands this very well and thus it has introduced some of the Child Plans.
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
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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*
Some of these SBI Life Child Plans require one-time investment only. Availing of an SBI Life Child plan can help you to build the corpus required for the higher education of your children, their marriage, or other emergencies. Let us discuss SBI Life Child Plans here:
It is a non-linked participating child insurance policy that helps you to secure and strengthen the financial future of your child. The benefits of this plan are:
Eligibility:
Parameters |
Eligibility Details |
Entry age |
For Children: 1 year to 13 years and For Proposer or Parents: 21 years to 50 years |
Term of the Policy |
21 years minus the age of the child at the time of policy purchase. |
Maximum Maturity Age |
For Proposers/ parents: 70 years For Children: 21 years |
Premium Payment Term |
Limited or Single Pay |
Premium Payment Mode |
Single Pay, Monthly, Quarterly, Half-Yearly, and Yearly |
Premium Paying Term |
Single or Limited Pay |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C applies.
It is a market-linked insurance policy that provides high returns on your invested money with insurance cover. Mentioned below are key benefits offered by this plan:
Eligibility:
Parameters |
Eligibility Details |
Entry Age |
For Children: 0 years to 17 years For Proposer/ Parents: 18 years to 57 years |
Policy Term |
Eight years to 25 years minus the child's age at entry into the plan. |
Maximum Maturity Age |
For Children: 18 years and at max, it is 25 years For Proposer/ Parents: Minimum age is NA but the maximum age is 65 years |
Premium Payment Term |
Limited Pay or Single Pay |
Premium Payment Mode |
Single Pay, Monthly, Quarterly, Half-Yearly, Yearly |
Sum Assured |
Minimum: Age less than 45 years and age more than 45 years Single Pay: 1.25 times the single premium payment Limited Pay: Higher of [(0.50*term*AP) or (10*AP)] Maximum Age: Under 45 years and More than 45 years Single Pay: 5 times of the single premium, 1.25 times of the single premium Limited Pay: 20*AP |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C applies.
Applying for SBI Life Child Plans is simple and quick. For the comfort of its customers, the State Bank of India has provided many options. You can opt for online mode or can go for offline mode. The steps that you need to follow in both of these options are mentioned below:
You can apply for the SBI Life Child Plan offline by visiting the office of SBI Life or any branch of the State Bank of India. You can also purchase any of these plans through SBI agents or brokers.
You can easily avail of or apply for SBI Life Child Plan online. The online application process of SBI Life Child Plans is very easy and simple. You can apply online by following the below steps and within a few clicks, your policy will be in your email. The steps for purchasing an SBI Life Child plan online are:
The above-mentioned child plan options offered by SBI Life provide the facility of one-time investment. Since these plans give you the facility of single premium payment, however, they offer you dual benefits of insurance and savings. Therefore, such plans can be the best thing that you can opt for for your children. Along with this, if you can crack the best deal with your insurance provider, then you can be the happiest person. To make you understand, a single premium payment child plan can provide you favor or stand out when you compare them with regular premium payment policies.
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