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Child Plan Insurance

To provide better and dreamed education to your child in the right time.

To secure your child's future even in case of any uncertainties like death, disability, loss of job etc.

To accumulate required amount of money for your child's education over a period of time through systematic and flexible investment plans.

These days, insurance policies play a key role in the financial planning activity revolving around the children. Insurance companies offer children's plans which help parents fulfill their most important financial responsibility towards their children even in their absence - and that is financing their higher education. Children's insurance plans have several variants, the important ones being

Policies that provide a certain percentage of the sum assured during the closing years of the policy, or a lump sum at its maturity, or the entire lump sum at the early demise of the person whose life is assured (the parent). Reversionary and terminal bonuses are paid at maturity.

Children's endowment insurance plans under which, the life of the child is insured, and the sum assured is paid out at maturity (for example when the child attains the age of 18, 21 or 24 under different plans). Generally, these plans aim to support the financial requirements for higher education or marriage.

Unit-linked insurance plans allow the policyholder (parent) to choose their premium payment and investment options. The premium is invested in different financial instruments by the insurance company, and the accumulated sum is paid at the time of maturity. In the event of premature death of the policyholder, the assured sum is paid to the child and the insurance company will pay the premiums and continue the investments on the policyholder's behalf until maturity.

Children's plans are offered by both public and private insurance companies.

BenefitsClick to expand

Children's Plan has the following advantages:

Secure the future of children, especially when they start going to school and colleges, even after the demise of policy holders

Investment is tax exempted under Section 80C and Section 10 (10D) of the Income Tax Act

The child receives the sum assured plus bonus, if any, or the value of the investments accrued up to that point in the policy term, at a pre-determined age.

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