Best Child Investment Plans In India

Best Child Investment Plans in India:

This article details about best child investment plans in India.

Top 10 Best Child Investment Plans in India for 2017:

Children are great responsibility for every parent, So securing their feature is our main goal.  Every parent wants to give their child a high quality life which needs proper planning and good financial stability for their future.  The best way to secure you child future is go for child insurance plan.  Investing in a child plan makes you financial stable for child future requirements.

When parents at the point to invest take up a child plan, there will be many questions in choosing an exact child plan that suits parent.

So here are complete details of Top Best Child Investment Plans in the year 2017:

Best Child Investment Plans #1 – Max Life Shiksha Plus plan:

MAX Life Shiksha plus Plan is a non-participating unit linked plan that provides benefit of investment cum saving. It provides best options with easy premiums and flexible plans.

Best feature in this Child Plan:

• This plan is eligible for parents whose children age is between 0-18 years.
• This plan continues to provide it services even after the demise of policy holder.
• In the case of demise of policy holder, future premium funds are offers by the policy under which all the future premium due under policy will be waived off.
• A guaranteed payment once policy comes to its completion.
• Your functions are placed on diversified asset allocation based on a risk factor of individual.
• Eligibility Criteria:
• Entry Age :21-50 years
• Maximum Maturity Age: 65 years
• Minimum Annual Premium: 25000/-
• Min Sum Assured: Rs 50000.

Best Child Investment Plans #2 – ICICI Prudential Smart Kid Premier Plan:

ICICI Prudential Smart Kid Premier Plan is UPLP plan without bonus facility. It provides the financial security of kid’s future in the demise of parents.

Features of this plan:

• This plan has feature to cover to joint life coverage.
• This plan provides death benefit and maturity benefit to the policy holder. All the future premiums will be waived of in the case of demise of the policy holder.
• Amount assured can be increased or decreased in the policy tenure, This policy offers riders benefit.
• This plan has option of 8 investment funds.
• Eligibility Criteria:
• Entry Age :20-60 years
• Maximum Maturity Age: 75 years
• Minimum Annual Premium: 15000/-
• Min Sum Assured: Rs 5 times of Annual Premium. 

Best Child Investment Plans #3 – SBI Life Smart Scholar Plan:

SBI Life Smart Scholar Plan provides the benefits of investment cum insurance. This plan offers seven funds option to match the investment strategy. This plan has add-on benefits as riders like accidental death benefits and accidental total and permanent disability rider. This has premium waiver benefit under the demise of policy holder.

Key Features of the plan:

• A UPLP plan with Premium Payment option in limited mode.
• This plan offers loyal rewards that increase the fund value that is added to the beneficiary of the policy.
• The plan provides an option of 7 fund investment to the insured.
• The premium paid and maturity benefits goes under tax deduction under section 80C and10D of Income Tax Act.
• Eligibility Criteria:
• Entry Age :18-57 years
• Maximum Maturity Age: 65 years
• Min Sum Assured: 10/7 times the annual premium (regular pay),1.25 times single premium(Single pay). 

Best Child Investment Plans #4 – Aviva Young Scholar Advantage Plan:

This plan is non-participating unit linked plan that creates corpus for future through market investments.

Best features Aviva Young Scholar Advantage Plan:

• This plan provides total life coverage.
• This plan has features like STP(Systematic Transfer Plan) , Automatic Asset Allocation and best option to switch between the funds.
• This plan provides liquidity of funds, and maintenance and management of investment portfolio is very easy.
• In this plan policy holder will be the benefited with death benefit, maturity benefit and also a benefit rider in-built accidental death.
• Eligibility Criteria:
• Entry Age :21-45 years
• Maximum Maturity Age: 60 years
• Minimum Annual Premium:6000/-
• Min Sum Assured: Rs 1lakhs. 

Best Child Investment Plans #5 – Metlife College Plan:

This is a non-linked endowment plan offers dual benefit of saving cum protection. This policy is benefited with guaranteed additional bonus along with death and maturity benefit. Insured amount is immediately recovered in demise of policy holder.

Features of Metlife College Plan:

• This plan has saving span of 12-24 years.
• This plan provides guaranteed additional bonus for child’s education for three years before maturity of the policy.
• All the premiums paid and maturity benefits are Tax exempted under section 80c and 10D.
• Eligibility Criteria:
• Entry Age :20-45 years.
• Maximum Maturity Age: 69 years.
• Min Sum Assured: Rs 2,12040/-. 

Best Child Investment Plans #6 – Ageon Life EduCare Advantage:

This is traditional money back policy with limited premium payment mode. This plan has death, maturity benefits, terminal bonus and simple reversionary bonus.

Feature of this plan:

• Guaranteed policy payout offered during last 4 policy years.
• Policy holder can get discount depend on the insured amount.
• This plan offers 2 death benefits.
• This plan is also Tax exempted.
• Eligibility Criteria:
• Entry Age :20-60 years
• Maximum Maturity Age: 75 years
• Min Sum Assured: Rs 100000/-

Best Child Investment Plans #7 – HDFC SL Young Start Super Premium:

This plan provides a secured future of your child through accelerated growth with full life coverage in case of any eventuality. This plan has regular premium payment mode.

Some features of this Plan:

• This plan has both life coverage options( Life and Health).
• Policy holder can choose any of the 4 funds options for investment.
• This policy is Tax exempted.
• Eligibility Criteria:
• Entry Age :30-60 years.
• Maximum Maturity Age: 75 years.
• Minimum Annual Premium:24000/-.
• Min Sum Assured: Subject to underwriting. 

Best Child Investment Plans #8 – SBI Life Smart Champ Insurance Plan:

This plan covers complete education requirements of the child. This plan offers assured benefits and built a corpus which is added as accumulated bonus at end of every policy.

Some Features of this plan:

• This provides single pay and limited premium payment.
• Plan covers accidental total and permanent disability rider. And it has option to waive of all the future premiums in case of demise of policy holder.
• This plans provides smart benefits, terminal benefits and simple reversionary bonus that are further adds to the savings of policy holder.
• Eligibility Criteria:
• Entry Age :21-50 years
• Maximum Maturity Age: 70 years
• Minimum Annual Premium:6000/-
• Min Sum Assured: Rs 1lakhs.

Best Child Investment Plans #9 – Bajaj Allianz Young Assurance Plan:

This is endowment plan that also provides benefits of bonuses. With this plan you can avail the benefits of life coverage and an opportunity to create corpus for child’s secured future.

Some key features of the policy are:

• Maturity benefits can be availed in three options; you also have variety of premium payment option and variety of policy tenure.
• Entry Age : 18-50 years
• Maximum Maturity Age- 60 years.
• Minimum Sum Assured – 10 times Annualized premium.

Best Child Investment Plans #10 – Future Generali Assured Education Plan:

This plan provides all the financial needs of the child and also a secured financial backup for educational needs.

Features of this plan:

• You have regular premium paying option in which you can pay the premium during the entire tenure of the policy.
• In this plan you have 3 options to receive maturity benefits.
• In case of demise of the policy holder death benefit will be paid to the child.
• Rider benefits are available on top of basic coverage.
• Specified tax benefit is available on the policy under Income Tax Act.
• Eligibility Criteria:
• Entry Age :21-50 years.
• Maximum Maturity Age: 67 years.
• Minimum Annual Premium: 17 years minus the age of the child.
• Min Sum Assured: Rs 1lakhs.

Securing child future requires a lot research on all the child plans available in market. You as parent you should take intelligent move in order to secure your financial future to give them good quality of life.

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