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List of Top 5 Child Plans In India 2021

Published On Mar 16, 2021 12:00 AM By InsuranceDekho

Child insurance plans are a type of life insurance plans that aim to help you build a stable financial future for your child. The plan provides you with an investment corpus at the time of plan maturity even if you are not around. Thus, it helps you leave a secured and guaranteed fund for financing the future of your child.

Why is a Child Education Plan Needed?

A child Plan not only protects your child's future but also gives you a few added advantages.

1. Guaranteed Benefit

The guarantee provided by the Child Education Package is not offered by any other form of investment. Many child education programs have a built-in incentive called a premium exemption benefit. This benefit offers to pay a maturity benefit regardless of whether the parent is present at maturity. The profit, thus, secures the future of the child.

2. Dual Benefit

The Child Education Package serves as a two-pronged investment-cum-insurance plan. One is the formation of a financial corpus, particularly for the kid. Second, it aims to provide funding for crucial achievements in the child's future. School education plans have set up a fund expressly structured to address the demands of higher education for girls. Thus, the plan meets the individual's child planning requirements.

You may also like read:- Tips To Purchase Child Plan

Top Child Plans In India 2021

Here's a list of the best child insurance plans available to Indian parents.

Child Plans


HDFC Life YoungStar Super Premium Plan

  • Unit associated package with two options for death benefit
  • 50% of the premiums are charged as annual income if the parent dies during the duration and the 'Save-n-Gain' payment preference is preferred by the parent.
  • There are four investment funds available
  • Severe disease coverage is available as an alternative.

ICICI Smart Life Plan

  • Option between two investment portfolio strategies
  • Loyalty incentives and asset boosters increase the promised worth of the portfolio. Up to 40 times the annual premium

Bajaj Allianz Young Assure Plan

  • The gain from maturity may be taken in three installments.
  • Guaranteed additions shall be paid on maturity
  • Accidental built-in lifetime absolute disability gain
  • Option of five additional riders
  • Premium rebates for high amounts of guaranteed maturity value collected by the policyholder's guaranteed amount-10 times the annual premium

LIC New Children’s Money Back Plan

  • Children between 0 and 12 years of age are protected
  • Bonuses accrued under the programme
  • 20% of the amount covered is charged while the child is 18, 20 and 22 years of age.
  • Optional premium exemption for riders
  • Amount assured-Rs.1 lakh and above

Max Life Future Genius Education Plan

  • Provides life cover along with policy continuance benefit even after an unfortunate demise of life assured.
  • This plan ensures that even in your absence your child’s dreams and aspirations are not financially bothered.
  • 4 guaranteed money-back payable in the last 4 years of the policy term 
  • Flexibility to choose premium payment term and policy term.

Also Read:- Things You Must Know About Child Insurance Plans

Top Reasons To Buy A Child Insurance Plan


As a parent, there's no way you'd want to risk the future of your children, particularly their education. Investing in a child plan, then, lets you plan accordingly and make sure your child is healthy, come what may. There are a range of child plans on sale, from market-linked and conventional plans to standard and lump-sum plans, among many others.After weighing the various premiums and incentives, you should take your pick based on the particular requirement.

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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