Child Insurance Plans
What is Child Insurance Plans?
A child plan is an insurance policy designed to help you accumulate a financial corpus for your child's future over a specified policy term. Upon maturity, the plan provides a lump sum amount that can be used for your child's education fees, wedding expenses, or any other primary goal you may have. Additionally, the child plan offers life insurance, ensuring financial security for your child in case of any unforeseen circumstances during the policy term. These benefits make a child plan a crucial investment for securing your child's future. It is advisable to purchase a child education plan as early as possible to allow your money more time to grow and yield better returns, ensuring you can meet your child's educational and future needs when the time arrives.
Features of Child Insurance Plans
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Financial Corpus for Child’s Future
Child plans help accumulate a fund over time, which can be used to cover your child's educational or marriage expenses.
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Premium Waiver Benefit
In the event of the policyholder's death during the policy term, future premiums may be waived, allowing the insurer to continue funding the policy. The child will still receive the full maturity benefit.
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Flexible Payment Options
Premium payments can be made monthly, quarterly, semi-annually, or annually, offering flexibility to suit the policyholder's financial situation.
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Payout Options
The plan may provide a lump sum amount or periodic payouts, which can be used to meet major expenses like education fees, wedding costs, or other important financial goals for your child’s future.
Explore our Insurance Solutions
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Child Plans
HDFC Life Sanchay Plus
UIN: 101N134V24
Looking for safe financial instrument which provides alternate source of income.
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- Guaranteed1 Income4 for period of 25 or 30 years
- Get Back Premiums as Guaranteed1 Lumpsum Benefit4 on maturity
- Life Cover to protect your family
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Child Plans
HDFC Life Click 2 Achieve- Smart Student
UIN: 101N186V02
A Non-Linked, Non-Participating, Individual Savings Life Insurance Plan that offers flexibility to customize the benefits.
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- Guaranteed1 Benefits
- Flexibility in choice of benefits
- Increasing upto 10% p.a
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1. Provided all due premiums have been paid and the policy is in force.
2. Applicable for life long and long term income option.
3. Tax benefits are subject to provisions as per Income Tax Act, 1961. Tax laws are subject to changes.
4. This applies to Income Variant, whereby guaranteed income is paid on survival of Life Assured during the policy term, provided all due premiums are paid during the premium payment term.
5. ROP – Return of Premiums. This applies to Income variant, whereby all base premiums are returned to policyholder on survival of Life Assured at maturity, provided all due premiums are paid during the premium payment term.
6. Quantum of benefits is guaranteed irrespective of the experience.
7.Loyalty addition would be added to the fund starting from 10 Policy Anniversary for the other than ‘Single Premium’ policies paying Annualized Premium of ₹ 1,00,000 at least and for all the Single Premium paying policies.
8. As per Income Tax Act, 1961. Tax benefits are subject to changes in tax laws
9. Available under Level Cover with Capital Guarantee and Decreasing Cover with Capital Guarantee plan options.
10. With unlimited free Switching. Available under Level Cover and Decreasing Cover.
Frequently Asked Questions
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A child insurance plan is a policy designed to secure a child’s future by providing financial support for education, marriage, or other life goals in case of the parent’s untimely death.
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- Child Endowment Plans: This plan combines life insurance with savings for future goals.
- Child ULIPs (Unit Linked Insurance Plans): This plan offers investment options alongside life cover.
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Child insurance plans usually end when the child reaches adulthood (18 Years) or
when the policy term is completed. -
A child insurance plan provides financial security for a child’s future. It typically
covers life insurance for the parent, ensuring the child receives a lump sum in case
of an untimely demise. It also includes benefits like maturity payouts, education
funding, partial withdrawals, and waiver of premium, ensuring financial goals are met
even if the parent is no longer around.
Insights about the market.
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