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Can I Get an Affordable Price While Buying a Child Insurance Plan?

Published On Jul 06, 2021

A Child Insurance Plan is a combination of savings and insurance cover. After buying these plans you can be assured that all of your child's requirements can be taken care of with just this simple step even if you are not around. Choosing the right plan is necessary as the Insurance is an investment and you need to make sure it's affordable so that while deciding your future you won't ruin your present. 

Why A Child Insurance Plan Is The Most Affordable Plan To Secure Your Child's Future?

The child insurance plans are affordable because children are young and that is why the premium that is charged is less expensive. 

Mostly, the affordable child plans are available online and there are various websites that can be utilized to compare the pricing. This way you will be able to choose the plan that suits your child the best and is also not heavy on the pocket. 

It does not mean that if you're going for a child insurance plan that is easy on the pocket so it will not have the same benefits as compared to the expensive ones in the market.  These surely have a higher sum assured attached to the policy, however with these affordable plans you can avail value added services such as diet and nutrition counseling for which ideally you have to pay separately. In case you are renewing the policy you can also avail the No-Claim benefit. It's always great to have additional security while purchasing or after purchasing the policy. This security comes in the form of additional riders that can increase the coverage of the existing policy. One of the most affecting expenses that occur are medical expenses. With these child insurance plans you will not have to worry about the medical treatment and hospital bills

In this Article, We have listed out the  Best Affordable Child Insurance Policies to choose from. 

 Best Affordable Child Plans

There are certain Child Insurance Plans which are quite affordable to purchase. Plans are as follows: 

  • Bajaj Allianz Young Assure

This plan offered by Bajaj has the entry age of 18 years. The minimum  annual premium to be paid is Rs. 20,000 for which you get the sum assured of  10 times the annualized premium amount. 

  • Exide Life Mera Ashirwad Plan

Under this plan the insurance entry age of 21 years and the premium can be calculated by discussing the same with the insurance company and it comes with a sum assured of a maximum of Rs. 3.5 lakh. 

  • HDFC SL YoungStar Super Premium

HDFC is known for its Insurance Plans and this Child Insurance Policy has an entry age limit of 18 years. The premium is also affordable which is Rs. 15,000 annually.Apart from the major benefits, it offers a sum assured of 10 times the annualized premium.  

  • ICICI Pru Smart Kid Assures Plan

Another banking and insurance institution with a benefit plan with an entry age of 20 years and the premium attached to this plan is Rs. 48,000. It offers a minimum sum assured of Rs. 4,50,000. 

  • MAX Life Shiksha Life Super

The plan has an entry age limit of 21 years and just as the age the premium is also just Rs.25,000 annually which promises guaranteed benefits and an offer minimum sum assured of Rs. 2.5 lakh. 

  • Metlife College Plan

This plan has an entry age limit of 20 and is the most Affordable Child Insurance Plan on the list with an affordable price of Rs.18,000. The plan offers a minimum sum assured of Rs. 2,15,000.

  • TATA AIA Super Insurance Plan

TATA is another big name in the market and this particular plan has an entry age limit of 20 years and has an annual premium of  Rs. 24,000. The best part of this premium is that the sum assured is 10 times the yearly premium. 

  • Smart Future Income Plan

This is not much known in the market but still has great potential. This plan has an entry age limit of 18 years and the premium can be calculated by discussing the same with the insurance company. But the best part of this plan is the sum assured which according to the company is 100 times the monthly income. 


As you can see all these plans have their pros and cons and the ones that we have listed for you are the most renowned and most affordable plans in the market. Still it becomes necessary to compare all the plans briefly either by yourself or with an expert. You need to keep in mind the duration that you want to stay invested and your income stability. Once you go through all these checks you can buy the best plan that suits you and secure your child's future. 

Also read 

Is a Medical Test required before buying a Child Insurance Plan?

Why Should I Buy Child Insurance Plans Online At Insurancedekho?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.        

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