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List of Top 5 Child Plans In India 2022

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

Considering the inflation in each and every sector of the economy, it has become substantially more difficult to manage the funds and provide the best facilities to children. Moreover, the lifestyle that you’re offering your children may hamper in the future after your demise. Therefore, in order to help individuals secure the future of their children, many general insurance companies provide child insurance policies. 

Child plans are a popular type of life insurance policy helping you in building a stable financial future for your child. 

In this article, we’ll help you with the list of the top 5 child insurance policies offered by the best insurance companies. Continue reading to find more! 

Child Plans of 2022 in India

  • Bajaj Allianz Young Assure:

It is a non-linked, participating life insurance plan offered by Bajaj Life Insurance. It is a comprehensive policy that is available with multiple premium payment terms and policy term options. With this traditional insurance policy, an individual can create a pool of funds to secure the future of their children. 

Key Features

  1. The plan comes with a lot of features and benefits including, guaranteed maturity benefit, vested bonus, interim bonus, terminal bonus, and more. 
  2. In case of death or accidental disability, comprehensive coverage is provided. 
  3. Additional discounts are offered to female policyholders. 
  4. You can take a loan on your plan where the amount shall be up to 90% of the surrender value. 
  5. Get tax advantages as per the provisions of the Income Tax Act. 
  • Bharti AXA Life Child Advantage Plan:

It is an individual, non-linked and participating life insurance plan offered by Bharti AXA. Under this plan, a policyholder can choose between money back and endowment maturity benefits as per their requirements. Moreover, you can enhance the protection of your policy by adding additional riders to your plan. 

Key Features

  1. Flexibility to select from a variety of policy tenures. 
  2. Premium waiver benefit to meet all the requirements of your children. 
  3. At the time of maturity, you may receive a non-guaranteed terminal bonus. 
  4. Get guaranteed payouts every year from the end of the fifth year of the policy. 
  5. Cash rider and accidental death benefit riders are available to enhance protection. 
  • ICICI Prudential SmartKid Solution:

It is a unit-linked insurance plan that can help you in safeguarding the future of your children. The minimum entry age is 20 years and the maximum age is 54 years. Moreover, it is a comprehensive insurance plan and your child would be entitled to get a lump sum amount at the time of maturity. 

Key Features

  1. Long-term investments in funds and debts help in creating wealth. 
  2. Choose from different portfolios that are fixed-portfolio strategy, where you can manage your account by yourself or lifecycle-based portfolio strategy in which experts will take care of your funds. 
  3. Loyalty benefits such as discounts, bonuses, and more are given to the policyholders for staying covered for a longer period of time. 
  4. Multiply your savings with wealth boosters. 
  5. Withdraw a part of your money as per your need after the completion of the fifth year of the policy. 
  • AEGON Life Rising Star Insurance Plan:

It is a unit-linked insurance plan in which the risk associated with the investment portfolio would be borne by the policyholder. Under this plan, the money invested can’t be withdrawn or surrendered by the policyholder till the completion of the fifth year. 

Key Features

  1. Financial protection for your child's education through triple benefit life insurance coverage until your child turns 25. 
  2. Choose from a variety of funds according to your preference. 
  3. Option of liquidity through partial withdrawals after five years. 
  4. Top-up feature to pay an additional premium on the policy. 
  5. Enhance protection during the policy tenure. 
  • Aditya Birla Sun Life Insurance Vision Plus 

It is a non-linked, individual, and participating life insurance plan that provides comprehensive coverage. Under this plan, you choose benefits from a variety of options such as short-term income, long-term income, and whole-life income protection. 

Key Features 

  1. Get whole life protection that is upto the age of 100 years. 
  2. Enhance the protection of your plan by including additional riders. 
  3. After accumulating a Surrender Value, a policyholder can avail loan on the policy. 
  4. Avail of tax benefits subject to the Income Tax Act. 
  5. Feature to waive off premiums in the case of any emergency. 


As a parent, you would always act smartly in the case of your children’s future, especially their education. By purchasing a child insurance plan from the most trustable life insurance company will ensure that your child always has financial support. In India, a variety of child plans are available, including market-linked, endowment, standard, lump-sum, and many more. Therefore, after considering the premium and other benefits offered in the plan, you can choose the best one for your child. Some of the best child insurance plans for 2022 are mentioned above. However, it is a suggested list, many more child plans are available in India among which you can compare and buy the one that suits your requirements.

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