SBI Life Child Plans – A Smart Choice for All Parents

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 more
Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
  • 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*

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

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:

Types of SBI Life Child Plans:

  1. SBI Life – Smart Champ Insurance:

    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:

    • A plan that safeguards the entire family’s financial future.

    • A reliable plan to secure your child’s future.

    • The plan offers tax benefits

    • This plan provides you the flexibility of premium payment.

    • It is an SBI Life Child Plan that offers a one-time investment option

    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.

  2. SBI Life – Smart Scholar Plan:

    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:

    • Provides financial support to your child to safeguard his/her future needs.

    • Premium payment waiver option available for any unfortunate event.

    • The plan regularly adds loyalty to creating wealth.

    • As a unit-linked insurance plan, it offers you the choice to switch funds.

    • Provides seven fund options.

    • The plan provides a partial withdrawal facility from its 6th policy year.

    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.

Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
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 Apply for SBI Life Child Plans:

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:

  1. Offline Mode:

    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.

  2. Online Mode:

    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:

    • Go to the website of SBI Life by typing the following URL: sbilife.co.in

    • Login through valid credentials. If you are not a registered customer, then you should create your valid login id and password and then log in by using these.

    • As soon as you log in, choose a child policy of your type and provide all the required details like your premium payment frequency, the coverage you want, your details, etc.

    • After entering all the required details, the website of SBI Life will determine the amount of premium that you have to pay.

    • You are then required to pay the premium through an online medium like debit card, credit card, or net banking.

    • Upon validation and receipt of all the required data, SBI Life issues the policy.

How Do These Plans Work?

  • This plan provides accidental total permanent disability and life cover throughout the policy term.

  • In case of some eventuality, this plan promises to provide a premium waive-off and instant payment of the sum assured.

  • A unique feature of this plan is 'Smart Benefit', which is paid in installments of four equal amounts at the end of every policy year after your child reaches the age of 18 years.

  • Maturity benefit is paid upon completion of the policy.

  • In case of accidental permanent or total disability, SBI Life pays additional benefits that are equal to the sum assured for accidental benefit.

Summing It Up!

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.

*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:- http://bit.ly/3J20bXZ
^^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.

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan3

Child plans articles

Recent Articles
Popular Articles
Child Education Planner

05 Feb 2024

Ensure your child's dreams come true with a Child Education
Read more
Indian Bank Education Loan

16 Jan 2024

Indian Bank stands tall as a reliable partner in your academic
Read more
Education Loan for Abroad Studies

16 Jan 2024

Pursuing international education is a dream for many aspiring
Read more
Education Loan Without Collateral

16 Jan 2024

An Education Loan Without Collateral is a financial solution
Read more
Canara Bank Education Loan

15 Jan 2024

Canara Bank Education Loan is a comprehensive financial solution
Read more
Top 12 Government Schemes for Girl Child
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
How to Check Post Office Sukanya Samriddhi Yojana Account Balance
The Sukanya Samriddhi Yojana is a savings scheme launched in the year 2015 by Prime Minister Narendra Modi under
Read more
Sukanya Samriddhi Yojana Calculator
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme that aims to create a corpus to
Read more
Prime Minister Schemes For Boy Child
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
Best Child Investment Plans to Invest in 2024
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL