Children Plans Growing to a New Phase

ULIPs are in their good time as the equity market is displaying double digit return of 18% in the last fiscal. Selling of ULIP plans does not satisfy the insurers. Now, the agents are catching young parents with the ULIP child plans. In traditional child plans, the general duration is of 15 years whereas after the 5 year lock-in period of ULIPs, individuals with higher risk appetite can also invest for 3 terms in ULIPs. Along with insurance, ULIPs offer participation in equity markets. If any unfortunate event occurs, the nominee is offered the sum assured and the maturity amount is paid at the time of maturity whereas, the future premiums are waived off.

Read more
Maximum returns Offered by Guaranteed

6.5%**

Fixed Deposits

(by SBI bank)

(5-10 Years)

7.1%***

Public Provident Fund

(other popular options)

(15 Years)

We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold
In-built life cover
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns+
+91
Secure
We don’t spam
View Plans
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, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

Premium paid in child ULIPS can be used by policyholder in a SIP or a dynamic fund allocation. And, the premium paid in traditional child plans is generally invested for corpus creation and guarantee payouts in government securities. Senior director and COO of Max Life Insurance, V Viswanand said investing at varied market cycles i.e. paying regular premium for a long term reduces the risk. S Sridharan of FundsIndia informed that interest rates on FDs have been 7.3% on a average in the past 13 years whereas, a traditional child plan offers 6% return.

Insureres are trying to grab more number of customers. Like- Shiksha Plus Super ULIP is launched by MaxLife for school fee support. Viswanand said, this plan further offers 10% of the sum assured along with the lumpsum benefit in case of demise of the parent. And yearly education expenses are taken care by offering maximum 10 and minimum 3 such installments.

Tarun Chugh, MD & CEO, PNB MetLife informed that the 3-4% of their product portfolio constitutes of child-linked plans. The positive outcome from the market and stable government has grown interest in ULIPs.

Child ULIPs are also offered by HDFC Life and ICICI Prudential. These plans are an important growth driver.

* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)
** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).
*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL