SBI Child Plans
SBI child plan encourages you to arrange your finances so that your child's future dreams are never a burden on your ...Read More
The headline features and policy mechanics, at a glance.
Affordable premium options starting from entry-level to comprehensive whole-life protection.
Industry-leading approval rate on eligible life insurance claims in the most recent fiscal year.
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
Choose from level cover, increasing cover, and return-of-premium variants.
Branch offices and claim service centres across India for easy policy servicing.
SBI child plans, offered by SBI Life, one of the leading life insurance companies in India, is a joint venture between BNP Paribas Cardif and State Bank of India (India's largest bank). The company began its operations in 2001 with a vision to present insurance solutions that suit customers' requirements. SBI Life understands the importance of building a financial corpus and believes in giving wings to your child's dreams. The company offers a multitude of child plans to provide you with financial assistance to fulfill life goals such as your child's education, marriage, and other responsibilities.
The SBI child plan encourages you to arrange your finances so that your child's future dreams are never a burden on your pocket. Proper financial planning is an essential part of raising a child, and SBI Child insurance plans prepare you for the same.
Availing an SBI Life Child Plan will help you build the financial corpus needed for education, emergencies, marriage, etc. Investing in an SBI Life Child Insurance Plan is a smart financial decision that helps you secure the future financial needs of your children.
SBI Child Plans ensure to look after your investment needs by offering:
Smart Bonus
Death Benefits
Educational Support
Tax Benefits
Good Solvency Ratio: SBI Life Insurance has a Solvency Ratio of 2.33 as per the IRDAI annual report 2022-23.
Highest Claim Support: As per the IRDAI annual report of 2022-23, the claim support of SBI Life Insurance is 93.09%.
Annual Premiums: As per the annual report of IRDAI 2022-23, the annual premium of SBI Life Insurance is Rs. 50,254.17 Cr.
PAN India Presence: SBI Life has a PAN India Presence with over 970 branch offices across India.
There are multiple benefits of SBI Life Child Plans. Read below to understand the advantages provided by the insurer.
SBI Life Child Plans support the policyholder's child on the educational front, allowing them to complete their education without facing any hurdles.
SBI Life Child Insurance plans offer a death benefit, which ensures that the policyholder's family does not suffer any financial problems in the absence of the policyholder.
SBI Life Child Plans offer smart bonuses and additional benefits over the sum assured for a greater income.
Child Plans have in-built rider benefits that ensure a child does not suffer in case of accidental death or accidental total and permanent disability of the policyholder.
Child Plans allow policyholders to claim Tax Benefits under Section 80C of the Income Tax Act, 1961, on the premium paid for purchasing the insurance plan.
| Name of the Rider | Benefits |
| SBI Life Accidental Death Benefit Rider | In case of your demise due to an accident, your family can receive additional income benefits over and above your sum assured. |
| SBI Life Accidental Total & Permanent Disability (ATPD) Benefit Rider | This rider provides protection against disabilities. In the unfortunate event of ATPD, the rider sum assured is paid, but the policy and other benefits continue. |
Every plan currently being sold by SBI Child Plans, shown side-by-side so you can shortlist quickly.
SBI Life Smart Champ Insurance plan is a participating non-linked individual life insurance plan. The product has been developed to provide life cover...
Give your children more than your love... Give them a lifetime of Financial Security. SBI Life Smart Scholar is an Individual, Unit Linked, Non-partic...
Side-by-side across the 2 most-bought SBI Child Plans plans on PolicyX.
| Feature | SBI Smart Champ | SBI Smart Scholar |
|---|---|---|
| Plan type | SBI Child Plan | SBI Child Plan |
| Sum assured | Rs. 1 Lakh to Rs 1 Crore | Single-Premium: 1.25x premium; Limited Premium: 10x Annualized Premium |
| Entry age | Minimum Age - 0 years Maximum Age - 13 years | Minimum Age: 0 years; Maximum Age: 17 years |
| Top benefits | Death Benefits · Smart Benefits | Explore SBI Life Smart Scholar · Know Its Features & Benefits |
For policy purchase and claim submission. Have these ready before you start.
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
The standard inclusions and exclusions across SBI Child Plans plans. Specific plans may add benefits — always check the policy wording before purchase.
In conclusion, SBI Child Insurance Plans help you arrange your finances so that your child's future dreams are never a burden on your pocket. Proper financial planning is an essential part of raising a child, and SBI Child insurance plans prepare you for the same. For more information, you can contact Policyx.com 24/7. Our trusted insurance experts listen to your unique problems and suggest the best possible solution for you.
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanThe 10 most-asked questions about SBI Child Plans, answered.
Aggregate ratings from 928 verified PolicyX customers who bought a SBI Child Plans plan.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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Compare SBI Child Plans life plans with other top insurers in India.
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