Child Plan

Children Plan / Child Plan is a type of life insurance plan. This plan help you save and gives your children the freedom to make their dreams come true. This insurance policy provides risk cover on the life of child.

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Want to save 20-50 Lacs for Marriage/Education of your Child by investing 125 a day .

Child insurance plans are an extension of Endowment, Money Back and in many cases ULIP plans .

In normal Child Insurance plan:
1) One needs to pay premium up to a predetermined term.
2) If Proposer (In most cases parents) dies and if PWB* is taken (In most of the policies it comes by default) all the future premium will be waived, and child will continue to get all the benefit stated in the policy.
3) If Child dies
a) Before commencement of risk, Premium paid is returned
b) After Commencement of risk, S.A or accumulated amount whichever is higher is paid to proposer and Policy gets terminated.
4) If every thing works fine, On Maturity Child will receive amount as stated in the Policy.

In a child Insurance policy, normally risk commence after child completes 7 years or 5 policy years, whichever is later. These Child Policies pay Periodic amount so parent can use this amount to fund unforeseen expenses for child. Child Plan is ideal for you as it encourages you to save systematically and create a sufficiently large corpus for your child’s dream, be it higher education, set up a business or wedding.

*It is the Premium Waiver Benefit that secures your child future if something unfortunate happens to you. This makes them interesting, and a worth investing your money.

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