Best child plan for education and marriage

The best insurance policies can protect your child’s financial future and provide flexible payouts at set intervals, enabling them to realize their dreams and achieve life milestones.

The best child plan for education and marriage is based on a number of factors such as your long-term and short-term goals for your child, their educational dreams, and preferences.

Benefits of child plan

A child plan policy can not only secure your child’s future but also provide the following extra benefits:

1. Benefit Guarantee

Unlike some other forms of investments, a child insurance program gives a secured child education plan. A premium exclusion benefit is a common built-in reward found in many education programs.

Whether or whether the parent is still living at the time of maturity, this benefit provides to pay a maturity benefit. Thus, you can protect your child’s future by choosing a kid’s life insurance policy. 

2. Dual Benefit

A dual plan is the greatest child education insurance option (investment-cum-insurance plan). The creation of a financial foundation, particularly for children, is one aspect, and peace of mind is the other.

This user-friendly designed calculator can help you calculate your investments. The link for this calculator is here. 

Five of India’s best child insurance programs for 2022 

Despite the numerous insurance plans on the market, how can you know which one is the best for your child in India?

Here, we’ve included information on a few of the top child insurance policies to guide you in making the best choice. 

HDFC Life Youngster Super Premium Plan 

Are you trying to find your child the greatest insurance? This is the greatest kid’s policy available for both insurance coverage and investing choices.

This unit-linked plan may be utilized throughout your child’s life, including during their further education years, their marriage, etc. Some benefits include 

• The ability to modify the plan to meet the specific needs of your child. 

• The policy used to pay 100% of the upcoming premiums in the event of the life assured’s death. 

• If the parent passes away while the term policy is in effect, 50% of the premiums are levied as annual income. 

• The “Save-n-Gain” payment is preferred by the parents. 

• There are four investing funds offered. Ten, fifteen, and twenty years are the lengths of the policy tenure periods. 

ICICI Pro Smart Kid Solution

This is a unit-linked plan that offers comprehensive protection to your child for a better future.  

1. Choose an investment strategy as per your child’s evolving requirements. 

2. This plan offers each- protection to your child. Your child will get a lump sum quantum in case of an unfortunate incident during the policy term. 

3. This plan offers two ultra-expensive payment options (regular pay and single pay). 

4. The benefits of fidelity addition and wealth boosters are offered under this plan. 

5. The range of policy period is between 10- 25 times.

LIC New Children Money Back Plan 

Your best option may be the LIC New Children Money Back plan because it covers all of the needs of developing children, such as their education and wedding.  

1. The maturity benefit under this plan is equal to the amount assured plus any relevant bonuses. 

2. This plan provides a longevity reward (equal to 20 percent) of the respondents of the base sum assured) after the insured individual reaches a particular age. 

3. LIC offers discounts for paying a large rate. 

4. Under this policy, you may obtain a loan. 

5. The candidate will get a death benefit under this plan. 

Bharti AXA Life Child Advantage Plan

Let us just examine some of the components of this proposal. 

1. Depending on the requirements and demands of your child, this non-linked plan offers two payment choices (money return and endowment). 

2. The benefit of a built-in premium waiver is included in the plan. 

3. You can select the insurance term for this plan. 

4. Section 80C of the Income Tax Act applies to the tax benefit. 

5. For this plan, the minimum and maximum ages for enrollment are both 18 years.

Birla Sun Life Vision Star Plan

This program offers guaranteed reimbursements to help you pay for your child’s education and protect their future even if you are not around. Several traits include 

1. Both death and maturity benefits are included with this plan. 

2. At the time of maturity, the accumulated incentives will be paid. 

3. After five years of the policy’s term, regular payouts. 

4. By selecting different additional riders, you can extend your coverage. 

5. After 2 years, if you quit paying your premium, the policy will still be in effect, albeit on a lower Paid-Up basis. 

Conclusion

Examine the terms and requirements of each policy before making an investment decision, then pick the best insurance coverage for kids.

Make a good investment strategy after that to make sure your child is as secure as possible.

Consult an expert advisor to get the right plan