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Best Child Insurance Plan
It is the best financial plan, investment plan and the most suitable policy for your child as it ensures continued education and a secure future. It makes sure that the child receives all financial aid he requires for an overall development in all the years of growth.
LIC Jeevan Ankur
LIC’s Jeevan Ankur is a conventional with profits plan, specially designed to meet the educational and other needs of your child.
If you are the parent of a child aged up to 17 years, LIC’s Jeevan Ankur is the most suitable insurance plan for you which ensures that your responsibilities are met whether you survive or not and without depending on anyone else.
HDFC Life YoungStar Udaan
HDFC Life YoungStar Udaan is a traditional participating insurance plan.
This plan is ideal for parents who wish to make provision for: Academic expenses that occur prior to college education, specific goals like college fees or marriage expenses etc and All miscellaneous and extracurricular expenses that occur during college/school.
Provision to meet academic expenses of your child.
Provision for miscellaneous and extracurricular expenses that occur during college or school.
Lump sum amount is paid on maturity.
Moneyback benefit can be availed.
There are two death options that you can choose from. Classic option is when the death benefit is paid and after which the policy will terminate. Classic Waiver option is when the death benefit is paid but the policy will continue and the future premiums are waived.
The policy premium payment term is 7, 10 years or policy term minus 5 years.
You can choose the policy term as per your child’s future needs.
Guaranteed additions are paid during the first 5 years of the policy years.
Accrued bonus is payable at maturity.
Tax benefits are available under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Reliance Nippon Life Child Plan
Reliance Nippon Life Child Plan is tailor-made for parents like you, to see your child grow up to achieve all that you dreamt for him, irrespective of life’s uncertainties.
The plan ensures your child receives the guaranteed benefits at key milestones of their life, even in your absence, without the worry of paying future premiums.
Protects your child’s future.
Funds your child’s education.
Supports your child to set up his/her own business.
Helps you focus on your child’s development.
Guaranteed periodic benefits are available.
Maturity benefit includes 25% of the sum assured, bonus and non-negative capital guarantee.
Life cover is offered for the entire policy term.
Tax benefits are available as per the prevailing tax laws in India.
Birla Sun Life Insurance Child Plans
This is a traditional, participating, child plan, which offers assured payouts from time to time.
Birla Sun Life Insurance brings to you plans that are specifically focussed on taking care of your child’s growing needs. From career choices to hobbies and interests, Birla Sun Life Insurance ensures that your kid never misses out on anything due to lack of funds.
Flexibility to choose your sum assured
Freedom to choose your payout option out of two available options. Choose option ‘A’ for a policy term of 16 years or ‘B’ for a policy term of 16 years
Premium payment term is between 5-12 years
Minimum sum assured is 1 lac rupees
Choose frequency of premium payment out of monthly, quarterly, semi-annual and annual
Entry age for availing policy is between 18-55 years
Maximum age at maturity is 75 years
Regular bonus payouts
Terminal bonus can be paid out on maturity of policy or surrender of the same
Death benefit: Nominee will be paid the sum assured in the event of death of policy holder. Assured payouts on scheduled dates continue while fresh premium payment stops
Maturity Benefit: If the insured survives even after completion of maturity then assured bonuses accrued till date are paid out along with terminal bonus if any
Policy doesn’t lapse if you stop paying
premiums after 3 full years of continuous premium payment. It continues on a reduced paid-up basis
Avail a loan of up to 85% of your policy
surrender value against this insurance plan