Best Child Investment Plan in India for 2025^~

What is a Child Investment Plan?

A child investment plan is an insurance product designed to secure your child’s future. It combines life cover with investment options to help you save for important milestones like education or marriage. In case of the parent's death, the policy offers a waiver of premium benefit, ensuring that the child still receives the investment plan benefits. These plans also offer regular payouts and can include additional features like riders. Additionally, they provide tax benefits, making them a smart way to invest in your child’s future.

Best Child Investment Plans^≈

Here is a list to help you choose the best investment plan for child future in India:

• ABSLI Wealth Smart Plus-WOP

• Axis Max Life Online Savings Plan - Child Plan

• Bajaj Allianz Smart Wealth Goal V-WOP

• Canara HSBC Life Promise4Growth - Care

• HDFC Life Sampoorn Nivesh - Classic Waiver Benefit

• ICICI Pru Signature Assure - WOP

• Kotak Life E-Invest - Rising Star

• LIC Index Plus

• PNB MetLife Goal Ensuring Multiplier - WOP

• Pramerica Life Smart Invest 1 UP - Dream Builder

• SBI Life-Smart Scholar Plus

• Tata AIA Life Smart SIP - Future Secure

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

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*PPT: Premium Payment Term 
Disclaimer: ≈Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India, refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

Details of the Best Child Education Plans in India in 2025^~:

1. ABSLI Wealth Smart Plus-WOP

   ABSLI Wealth Smart Plus is a non-participating, Unit-Linked Insurance Plan (ULIP) designed to meet a wide range of investment and protection needs. Whether you're planning for retirement, your children's education, or achieving personal financial goals, this plan provides a versatile solution to build wealth strategically while ensuring long-term financial security.

   Key Features:

   • Two Plan Options: Choose between Smart Life Option (coverage till age 75) or Whole Life Option (coverage till age 100) based on your needs.

   • Zero Charges: Enjoy zero premium allocation and policy administration charges throughout the policy term.

   • Investment Flexibility: Select from 5 investment strategies and 19 funds to align with your risk profile and financial goals.

   • Systematic Withdrawal Facility: Easily withdraw from your fund value during the policy term to meet regular financial needs.

   • Tax Benefits: Benefit from tax advantages on premiums paid and benefits received as per prevailing tax laws.

   Read more

2. Axis Max Life Online Savings Plan - Child Plan

   Max Life Online Savings Plan is a non-participating, unit-linked insurance plan that offers both life protection and market-linked returns. This plan provides flexibility to tailor the premium and policy terms according to your needs. It’s designed to help you achieve your financial goals, with the added benefit of easy fund management and low charges.

   Key Features:

   • Flexible Premium & Policy Term: Choose from different terms based on your retirement goals, with options for maturity age between 70-85 years or complete flexibility for 5 to 30 years.

   • Choice of Funds: Select from 14 funds based on your risk appetite or opt for the Dynamic Fund Allocation strategy for market volatility protection.

   • Unlimited Free Switches: Switch between funds as many times as you need without incurring any charges.

   • Zero Charges: Enjoy the benefit of zero premium allocation and policy administration charges. Only mortality and fund management charges apply.

   • Life Protection: Secure your family’s future with life insurance protection while also growing your wealth.

   Read more

3. Bajaj Allianz Smart Wealth Goal V-WOP

   Bajaj Allianz Life Smart Wealth Goal V is a versatile insurance plan designed to offer life cover along with multiple investment strategies. It helps you grow your wealth while providing key benefits like returns on charges and flexible premium payment options. This plan is ideal for those looking to secure their future and enhance their savings with professional fund management.

   Key Features:

   • Life and Investment Cover: Offers life cover along with multiple investment strategies to maximize wealth growth.

   • Return of Charges: Get return of Life Cover charges and Allocation charges for added value.

   • Flexible Payment Options: Choose from single, limited, or regular premium payment options for convenience.

   • Multiple Fund Options: Select from a range of investment portfolios to suit your financial goals and risk profile.

   • Tax Benefits: Enjoy tax benefits under current tax laws for premiums paid and policy maturity proceeds.

   Read more

4. Canara HSBC Life Promise4Growth - Care

   Canara HSBC Life Insurance Promise4Growth is a flexible Unit Linked Individual Savings Life Insurance plan designed to help you meet your changing financial goals. With customizable options, this plan gives you control over both savings and protection, making it ideal for long-term financial planning.

   Key Features:

   • 3 Plan Options: Choose from various options that best match your financial objectives.

   • 4 Investment Strategies: Tailored to your risk appetite and goals for growth.

   • Flexible Premium Payments: Choose between limited or regular premium payment terms.

   • Diversified Fund Portfolio: Invest across 9 different fund options for a well-balanced portfolio.

   • Enhanced Maturity Benefits: Enjoy loyalty additions, wealth boosters, and return of mortality charges to maximize your returns.

   Read more

5. HDFC Life Sampoorn Nivesh - Classic Waiver Benefit

   HDFC Life Sampoorn Nivesh is a unique insurance-cum-investment plan designed to help you optimize your investment while providing flexible protection options. With multiple fund choices and a range of benefits, this plan ensures that your financial goals are met with ease and security.

   Key Features:

   • Flexible Investment Term: Choose from 10 to 35 years for a Single Pay plan, or (85 – Age at Entry) for Limited/Regular Pay options.

   • Customizable Premium Payment: Options for Single, Limited, or Regular premium payment to suit your financial situation.

   • Four Benefit Options: Select from four benefit options to align with your protection needs.

   • Accidental Death Benefit: Additional coverage in case of accidental death, for added security.

   • Loyalty Additions: Enhance your fund value with loyalty additions after 10 years of policy term.

   • Fund Flexibility: Choose from 14 fund options and invest according to your risk tolerance.

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6. ICICI Pru Signature Assure - WOP

   ICICI Pru Signature Assure is a life insurance plan that also helps you invest and grow your savings. It combines protection with investment to help you achieve your financial goals. The plan offers features like premium waivers, family income support, and guaranteed maturity benefits, ensuring your goals stay on track even during tough times.

   Key Features:

   • Smart Benefit: If something happens to you, future premiums are waived, and your family gets income support to keep your goals intact.

   • Loyalty Additions: You get extra rewards for staying invested in the plan for the long term.

   • Investment Choices: Grow your money through 23 different funds and add extra savings when needed with the Top-up feature.

   • Systematic Withdrawals: You can withdraw monthly for extra income using the Systematic Withdrawal Plan (SWP).

   • Guaranteed Maturity Benefit: At the end of the policy, you’ll get back at least 100% of the premiums you paid.

   Read more

7. Kotak Life E-Invest - Rising Star

   Kotak e-Invest is a flexible Unit Linked Life Insurance Plan (ULIP) that can be tailored to meet your unique financial needs. Whether it's for protection, investment, child’s future, or retirement planning, this plan is designed to offer comprehensive coverage and investment growth.

   Key Features:

   • 100% Premium Allocation: Your entire premium is invested without any deductions.

   • Yearly Additions: Starting from the 6th policy year, you receive yearly additions that enhance your fund value.

   • Rising Star Option: Provides triple protection for your child’s future, including a lump sum payout, monthly income, and policy continuation if the parent passes away.

   • Retire Rich Option: Offers coverage up to age 99, along with a retirement income and an Income Booster to secure your post-retirement lifestyle.

   • Investment Flexibility: Choose from two investment strategies to suit your risk profile.

   Read more

8. LIC Index Plus

   LIC Index Plus is an individual life insurance plan that combines life insurance cover with savings, offering financial protection along with investment growth. Though it's a non-participating plan, it provides guaranteed additions and flexibility to suit your specific needs.

   Key Features:

   • Refund of Mortality Charges: Refunds mortality charges on survival till maturity, excluding extra charges due to underwriting decisions or tax levies.

   • Guaranteed Additions: Percentage of your annual premium is added to your unit fund at specified intervals, boosting your savings.

   • Investment Flexibility: Choose from various investment funds according to your risk appetite, and decide the sum assured and premium amount.

   • Partial Withdrawals: Allows partial withdrawals to meet liquidity needs during the policy term.

   • Enhanced Coverage: Opt for LIC’s Linked Accident Benefit Rider to enhance your coverage

   Read more

9. PNB MetLife Goal Ensuring Multiplier - WOP

   PNB MetLife Goal Ensuring Multiplier (GEM) is a Unit Linked Insurance Plan (ULIP) designed to combine life insurance coverage with wealth creation. It helps you systematically invest in a diverse range of funds, ensuring both long-term financial growth and protection for your loved ones. This plan rewards loyalty, provides options for a premium waiver in case of critical illness, and allows you to dream big while securing a bright future.

   Key Features:

   • 17 Diverse Funds: Choose from a wide range of funds to suit your investment needs and risk appetite.

   • Tax Benefits: Avail tax benefits under Section 80C and Section 10(10D) for premium payments and maturity proceeds.

   • Waiver of Premium: Premium waiver in case of death or critical illness, ensuring continued coverage.

   • Flexible Premium Payment: Choose to pay premiums for a limited period or throughout the policy term for greater convenience.

   • Smart Child Option: A specialized option designed to secure your child’s financial future.

   • Return of Charges: Get a return on fund management charges, premium allocation charges, and mortality charges over the policy term.

   Read more

10. Pramerica Life Smart Invest 1 UP - Dream Builder

    Pramerica Life Smart Invest 1 UP is a Unit Linked Insurance Plan (ULIP) designed to help you achieve your long-term financial goals while securing your family’s future. This plan offers the flexibility to adapt to your financial needs and ensure your loved ones are financially protected, even in your absence.

    Key Features:

    • Guaranteed Additions: Get up to 10% of the premium paid in the first policy year, with extra benefits for female policyholders.

    • Zero Charges: No premium allocation or policy administration charges throughout the policy term.

    • Plan Options: Choose between Wealth Builder for wealth accumulation and Dream Builder for securing your family's future with regular income.

    • Return of Mortality Charges: Get back the mortality charges if you survive the policy term.

    • Flexible Fund Management: Enjoy unlimited switches and premium redirections to optimize your investments without extra cost.

    Read more

11. SBI Life-Smart Scholar Plus

    SBI Life Smart Scholar Plus is a Unit Linked Insurance Plan designed to help parents secure their child’s future. Whether it's for higher education, marriage, or any other significant milestone, this plan provides the flexibility and protection you need while allowing your money to grow with market-linked returns.

    Key Features:

    • Dual Protection for Your Child's Future: Provides lump sum benefits and ensures policy continuity with the inbuilt Premium Payor Waiver Benefit in case of the Life Assured’s unfortunate demise.

    • Accident Benefit: Covers Accidental Death and Accidental Total & Permanent Disability, offering additional financial security.

    • Loyalty Additions: Additional units are allocated periodically to boost your investment, rewarding long-term commitment.

    • Enhanced Wealth Creation: Choose from 10 diverse fund options to grow your savings according to your risk appetite.

    • Liquidity Options: Partial withdrawals available to meet any unplanned expenses during the policy term.

    Read more

12. Tata AIA Life Smart SIP - Future Secure

    Tata AIA Smart SIP is a non-participating, unit-linked life insurance plan designed to build systematic wealth for you and your family. It combines life cover with market-linked returns, offering a lump sum benefit at maturity and extra security in case of unforeseen events. This plan helps safeguard your family’s financial future while providing flexibility and growth through various investment options.

    Key Features:

    • Financial Protection: Life insurance cover combined with market-linked returns for wealth accumulation.

    • Waiver of Premium: Option to waive premiums in case of unforeseen circumstances, ensuring continued coverage.

    • Fund Enhancements: Zero premium allocation charges and additional unit allocations for female customers.

    • Multiple Investment Strategies: Choose from various funds and strategies based on your risk profile and goals.

    • Tax Benefits: Avail tax benefits as per current tax laws for premiums paid and maturity proceeds under Section 80C and Section 10(10D).

    Read more

Important Milestones You Need To Plan For Your Child 

• Early Education Expenses: Planning for school fees, skill development, and extracurricular activities from early years helps manage rising costs effectively.

• Higher Education: Funding college or professional courses, including expensive degrees like engineering, MBA, or studying abroad, is a major milestone requiring substantial investment.

• Marriage Expenses: Marriage is one of the most significant financial events, often requiring long-term wealth creation through systematic investments to cover costs.

• Skill Development and Hobbies: Investing in your child’s talents and skills beyond formal education supports holistic growth and future opportunities.

• Other Milestones: This can include starting a business, buying a first home, or other personal goals where financial support might be needed.

Starting early and investing regularly in child investment plans helps accumulate adequate funds to meet these milestones while benefiting from compounding and tax advantages. 

Benefits of Child Investment Plans

• Tax Deductions on Premiums: Premiums paid towards child investment plans, including ULIPs, qualify for tax deductions up to ₹1.5 lakh per year under Section 80C of the Income Tax Act, reducing your taxable income.

• Tax-Free Maturity Amount: The maturity proceeds received from child plans are exempt from tax under Section 10(10D), ensuring the full corpus is available for your child’s needs.

• Life Cover for Financial Protection: In case of the policyholder’s death, the nominee receives the life cover amount immediately, and future premiums are waived, ensuring uninterrupted policy benefits for the child.

Key Factors to Consider Before Investing in the Best Child Plan

Investing in a child plan is a crucial step to securing your child's future. Here are some of the key factors to keep in mind before investing in the best child investment plan:

• Child's Future Needs: It is important to assess your child’s future financial needs, such as education and marriage, to ensure the plan covers these milestones.

• Investment Horizon: Choose a plan that aligns with your child’s future milestones, ensuring the duration fits your financial goals.

• Premium Affordability: Ensure the premium amount is affordable and doesn’t affect your day-to-day finances. The plan should be manageable throughout the term.

Other Investment Options For a Child's Investment 

• Children’s Gift Mutual Funds: These invest in a balanced mix of equity and debt, aiming for long-term capital growth with moderate risk. They usually have a lock-in until the child turns 18, which is ideal for education or marriage funding.

• Systematic Investment Plans (SIPs): SIPs allow small, regular investments in mutual funds, promoting disciplined investing and benefiting from rupee cost averaging and compounding over time.

• Fixed Deposits (FDs): Bank FDs offer guaranteed returns with low risk, suitable for short-to-medium-term goals, especially when equity markets are volatile.