5 Best Child Life Insurance Plans To Buy In 2021

A child insurance plan is an important gift for every child. It helps them get a footing in the harsh world of today. Under a child insurance plan, you can efficiently save up your current earnings so that they can serve both you and your child later. The payouts from child insurance plans can be used for several purposes from medical expenses to education costs and other landmarks in your child’s life.

When it comes to financial goals, there is a lot of diversity. Everyone might not be satisfied with a single policy. This is why it is always great having so many child insurance plans available. Take a look at 5 of the best life insurance plans to buy in 2021 to make the right choice.

Know More: Things You Must Know About Child Insurance Plans

Top 5 Child Insurance Plans in 2021

To find the right child insurance plan for your financial goals, you must take a look at the best ones available. Here are the top 5 plans currently:

1. ICICI Pru Smart Kid Regular Premium

This plan is an efficient and affordable child insurance plan. It offers flexibility in terms of premium payment as there are two options- regular pay and single pay. There are also benefits provided if you stay invested for a long time.

2. Max Life Shiksha Plus Super

With this plan, you can choose the premium as well as policy term as per your convenience. There are even 5 fund options to choose from. A premium waiver is also provided in case the life insured dies during the policy term.

3. Bajaj Allianz Young Assurance Child Plan

Under this child insurance plan, you are free to choose from the premium payment options. The minimum entry age is 18 years which is convenient to make substantial savings. 

4. SBI Life Smart Scholar Plan

The SBI Life Smart Scholar Plan has an inbuilt premium waiver benefit which is important to sustain the plan in case the policyholder dies. You can also choose your own premium option. There are also tax benefits applicable in this plan.

5. Aditya Birla Sun Life Vision Star Child Plan

Another efficient child insurance plan, the minimum sum assured with this plan is 1 Lakh INR. It is an affordable as well as beneficial plan. There is much to profit on purchasing this plan.

Read More: 5 Reasons To Purchase A Child Plan

Things To Look for Before Purchasing a Child Plan

Take Away

The final choice of course depends on personal financial requirements and goals. Nevertheless, it always helps to narrow down choices. The top choices are usually the best plans so it is rare to go wrong with them.