Child Plan

watch As a parent, you might dream of a bright future of him/her and investment is a vital step in doing so. Parents generally focusing on the major goals for their child such as marriage, education and a comfortable lifestyle as well. All these goals have different requirements, so it is essential to think about each separately and find the needful investment plan that can suit these requirements as well. For a bright future of your child, it is vital to think about the investment proposals as soon as possible.

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follow site Before investing everyone wants to be sure about the returns and the benefits that they will get in the future. Many questions arose in their minds at that time such as what would be the risks and benefit percentage? How will it help them?

Importance of Child Plans

The life of a parent is full of executing important duties towards the child. Right from raising the kid from infancy to seeing him/her relax with their very own families -there are important matters one needs to attend to. Parents take care of everything related to the child and want to make sure that their child's every want is looked after with none compromised.

Child Plan

Child Plan

Child Plan is insurance cum investment plan that serves two purposes - Financially secure your child's future & finance the turning points in his/her life such as higher education and marriage. So, like a double-edged sword, the best child plan is designed to protect the future of your child in case of your unfortunate demise and at the same time, builds a corpus over a term to be utilized to finance prime moments in his/her life.

Compare Best Child Insurance Plans in India

A wise mom once said, "Your child will keep building castles in the air; you better start buying bricks for the castle today." Loving your child is what comes naturally but as a responsible parent, you have certain obligations towards your child. Getting a child plan is one such obligation; in fact, the most important one. If you are reading this, you've already proved that you are a concerned parent finding ways to secure your child's future. Let us help you out in understanding what exactly a child plan is and the need to go for the best one.

Child Education Plan

Child education plan gives you various benefits such as life cover, building a corpus for the child's future needs and the option of adding specific riders. Go ahead and invest in an education plan, but always compare quotes before you finally sign on the dotted line. 

Plan Name Plan Features Entry Age - Min/Max Maturity Age - Min/Max PT & PPT Plan Benefits Sum Assured in case of Death
Smart Kid Solution with ICICI Pru Smart Life
  • Loyalty Benefits inform of Wealth Booster & Loyalty Additions.
  • Select from Fixed portfolio Strategy or LifeCycle based Portfolio Strategy, based on your risk appetite
  • Accidental Death Benefit rider offered with this plan
  • Partial Withdrawls allowed after 5 yrs of policy term.
  • Tax deduction is available under sec 80(C) when Sum Assured is atleast than 10 times Annual premium.
20 - 54 Years 64 Years PT: 10 - 25 Years
PPT: Same as policy term
Maturity Benefit:On maturity of the policy, you will receive the Fund Value with the option to take it as Lumpsum or in form of periodic installments. Death Benefit:The Lump Sum benefit is paid whch is higher of the two amounts:
• Sum Assured
• Minimum Death Benefit *Smart Income Benefit: Incase of Death the company pays remaining premium installments during policy term & fund value is paid to nimminee.
For entry age below 45:
Higher of
10 * Annualized premium
or
0.5 * policy Term * Annualized premium

For entry age equal or above 45:
Higher of
7 * Annual Premium
and
0.25 X Policy term X Annual Premium *Minimum Death Benefit = 105% of the total premiums paid including Top-up premiums, if any.
Aegon Life iMaximize Insurance Plan - Benefit option II
  • No premium allocation charge
  • You can choose from 3 Unit linked funds viz. Blue Chip Equity Fund, Debt Fund, and Secure Fund as per your investment objectives.
  • Option to boost your Fund Value through Top-Ups
  • Tax deduction is available under sec 80(C) only when Sum Assured is atleast than 10 times Annual premium.
18 - 50 Years 65 Years PT: 15, 20, 25 Years
PPT: 10, 15 Years or equal to PT
Maturity Benefit: You receive the Total Fund value (including the Top-Up Fund Value) as on the maturity date. Death Benefit * Option 2: The nominee receives the Maximum of Sum Assured or 105% of all premiums paid immediately. Company will pay all future premiums & pay fund value at end of policy term.An amount equal to the Annualised Premium will also be paid paid to the beneficiary at the start of every Policy year. For entry age below 45:
Higher of
10 * Annualized premium
or
0.5 * policy Term * Annualized premium

For entry age equal or above 45:
Higher of
7 * Annual Premium
and
0.25 X Policy term X Annual Premium
HDFC SL Young Star Super Premium
  • Yearly payments to your family in case of your unfortunate demise
  • Flexible Benefit Payment Preferences – Save Benefit or Save-n-Gain Benefit
  • Opportunity to invest in a choice of funds
  • Tax deduction is available under sec 80(C) when Sum Assured is atleast than 10 times Annual premium.
18 - 65 Years 75 Years PT: 10 - 20 Years Maturity Benefit: At the end of the policy term, you will receive the accumulated value of your funds. Death Benefit: * Save Benefit Option: The Sum Assured shall be paid to beneficiary immediately ,The company shall pay all future policy premiums & pay the fund value to the beneficiary at end of policy term. * Save n Gain Option: The Sum Assured shall be paid to beneficiary immediately. 50% of future policy premiums shall be paid by the insurer, the fund value shall be paid at end of policy term & 50% of the all future premiums shall be paid to beneficiary on an annual basis. Min:
For age less than 45 Years:
10 * Annualized premium
For age equal to 45 Years and above:
7 * Annualized premium
Max: 40 * Annualized premium
HDFC LIFE Young Star Udaan - classic waiver (traditional plan)
  • Participating endowment and moneyback plan with multiple options
  • 3 maturity benefit optons that will help you achieve key milestones of your child's aspiration.
  • Flecibility to choose from a wide range of Policy and premium payment term
  • Tax deduction is available under sec 80(C) when Sum Assured is atleast than 10 times Annual premium.
18 - 55 Years 33 - 75 Years PT: 15 - 25 Years
PPT: 7, 10 Years, Policy Term minus 5 Years
Maturity benefit options:
Option 1(Aspiration): 125% of sum assured
Option 2(Academia): 130% of sum assured
Option 3(Career): 140% of sum assured Death Benefit Option: It shall be higher of Sum Assured on Death or 105% of premiums paid.

For age less than 50 Years:
10 * Annualized premium
For age equal to 50 Years and above:
7 * Annualized premium
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