Compare & Buy Best Child Insurance Plan

  • A child insurance policy is designed to meet your child's future financial needs. The need to provide the child with the best of education, to make sure that the cash flows are there at every crucial stage of your child's growth, child plans are essential.
  • Ensures your child's future needs in a better way to stabilize your child's requirements well in advance.
  • Offers flexibility to invest in multiple instrument types depending on your risk profile and requirements
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Best Child Plans From Top Life Insurance Companies

Max Life Insurance Company Limited
HDFC Standard Life Insurance Company Limited
Bajaj Allianz Life Insurance Company Limited
Reliance Life Insurance Company Limited
Aegon Life Insurance Company Limited
Aviva Life Insurance Company India Limited

How To Choose The Best Child Plan In India ?

Today the cost of education is so high that most of the parents are unable to provide their children the level of education they want. If this is the situation today then you can imagine what would be the scenario in future when the inflation will be much higher. A child future plan is designed to meet your child's future financial needs. Child investment plans are essential to meet the needs of providing the child with the best of education and to make sure that the cash flows are there at every crucial stage of your child's growth. For instance, if your child is 4 years old and you plan to provide him higher studies after say, 15 years which costs Rs. 20 lakh today, then you can imagine how much would it cost after 15 years. Therefore, it becomes necessary to invest for your child today in order to have funds available at the time when the actual need arise.
There are two types of Child policies in India- Child ULIPs & Child Endowment Plan. The plan you should select is usually dependent on the amount of coverage you want and the tenure of the policy. PolicyX.com understands your concern as a parent and thus provides you with best insurance plans from leading providers such as Max Life, HDFC Life, Bajaj Allianz, Reliance, etc. You can compare and choose the best child coverage as per your requirement on our portal within minutes.

Advantages of Child Insurance Plans

There are many benefits that you will get after buying a plan. Mentioned below are the major benefits that you will get along with a best plan.

Importance of Child Plans

  • Security: Ensures your child's future needs and allows you to plan in a better way to stabilize your future financially.
  • Multiple needs fulfilled: All future needs of your child whether its education, marriage, or business are covered and looked after
  • Liquidity: You have the provision of liquidizing your plan through partial withdrawals
  • Tax Exemption: You get tax deduction for the premium you pay under Section 80C and any income from the plan is tax-free under Section 10 (10) D of the Income Tax Act
  • Riders: You can buy the riders like accidental death benefit, income benefit and critical illness benefit.

Tips To Consider While Buying Child Insurance Plan

It is advisable for you to calculate the required funds for your child education and marriage before going to buy coverage for children. With this additional information, you would be able to choose the best cover and can decide easily on the related premium amount and the time period of the child life plan. In some products you will get additional benefits such as accident cover, health, etc. You must compare child policies of different insurance companies on our site because with it, you can compare the premium amount per year and the returns presented by different companies.
Make sure to insure your life also. It is beneficial to buy a plan which has a built in clause premium waiver for future. This would guarantee that the plan continues if you are not there to take care of it and your child would be able to receive assured sum amount at maturity. It is advisable for you to check the company's record before purchasing child insurance. Buy the plan in the parent's name instead of a child, since the child anyway has no dependants. But if you are planning to buy the best one in the child's name, then ensure that it has a built-in feature of premium waiver in case of death of the parent. This will protect your child from the burden of heavy premium payments and he will continue to reap the benefits of the plan. Also do a check out the tax benefits of the plan.It is an incredible financial investment planning tool for child education / marriage / unforeseen expenses etc. It assists in meeting the child's monetary needs and provides safety in the form of a life insurance plan.

Child Plans and Riders

For a great future of your ward, you must buy the best child insurance plan. By comparing service and free quotes, you will get the best and affordable child plan that meets your requirements easily. An online policy is a good option, it will assist you in comparing different plans of the top companies. It is worthwhile to look for best plan with riders and related features which make your plan more useful and effective. Riders provide additional benefits at low premiums. Some companies are offering riders as a part of the policy, whereas in few companies it is optional.
Riders provide a more secure and financially stable life to your ward. It is advisable to select a rider, according to your requirements. Don't think about the extra premium that you are paying for riders, consider the benefits that you will get and make your policy more powerful.

Customer Benefit

The most helpful riders are those which make sure that the policy will not terminate in the case where the policyholder dies during the policy period.

Premium Riders

Future premiums are waived off for the child, in case of death of the insured. With the help of it, your child will not have the burden of paying the rest premium amounts.

Critical Diseases

The insurer will pay a lump sum amount for the treatment of your child in case of dreaded diseases that may hamper his future growth.

Accidental Benefits

It is same as above, in this case the insurer will provide a lump sum amount for the treatment of your ward.

Documents Required For Child Insurance Plans:

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